Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.
Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding that a deal could just be days away.
Emami Ltd reported nearly 28 percent fall in its consolidated net profit to Rs 60 crore (approx $ 9 million) for the quarter ended March 31, 2018 from Rs 83 crore (approx $ 12.5 million) for the year-ago period.
Flipkart has bought back $350 million worth of shares from its investors as it seeks to convert its Singapore-incorporated company to a private limited firm, in a move that could make a way for a new strategic investor.
Times are tough at Denmark’s IC Group with the Tiger of Sweden and By Malene Birger owner reporting weak sales. And while consolidated operating profits are rising, gross profit is down and it faces huge challenges.
PC Jeweller (PCJ) is currently embroiled in a disclosure scandal, causing its stock to plummet by over ten percent on Wednesday, equating to an 83 percent loss from its market high in January this year.
Indian consumer goods major Marico net profit rose 7 percent to Rs 183 crore (approx $ 27.5 million) with total income of Rs 1503 crore (approx $ 225.6 million) for the fourth quarter ended on March 31, 2018.