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Synopsis Goyal says Zomato spent almost one-third the money compared to competition to get here and has been very efficient.. ETtech Bengaluru | Mumbai: Zomato, the first Indian unicorn to list on the bourses last month, will continue to chase growth and build a long-term business, cofounder Deepinder Goyal told ET, undeterred by questions raised on the food-delivery and restaurant-discovery platform’s profitability and eye-popping valuation. The 38-year-old chief executive said that “life hasn’t changed drastically” after the company raised more than $1 billion from the public markets last month, vaulting it to the top league of publicly traded firms in India. ....
Ongoing earnings season, global trends and US Fed policy meeting will guide the markets this week, believe analysts. Besides, volatility could remain high in the market due to the scheduled derivatives expiry of July month contracts, they said. The domestic markets had ended the holiday-shortened last week 0.4 per cent lower, bogged down by the concerns over economic recovery and delta variant of Covid. Although strong Q1 earnings helped cap losses. This week too, the earnings season will be in full swing with nearly 400 companies slated to post their quarterly performance, including some of the prominent names like Axis Bank, Kotak Bank, L&T, Tata Motors, Maruti, Colgate, Tech Mahindra, BHEL, IOC, Sun Pharma and Indigo. ....
RIL: Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22), down 7.2 per cent from Rs 13,233 crore posted in the same period last year (Q1FY21). However, last year s June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 per cent growth in adjusted profit after tax over last year s Rs 8,267 crore. ICICI Bank: The private sector lender reported a 78 per cent YoY rise in standalone net profit at Rs 4,616 crore for June quarter compared with Rs 2,599 crore in the same quarter last year. ITC: The company reported a 28.6 per cent YoY growth in standalone profit at Rs 3,013.5 crore for Q1FY22, partly driven by low base in the year-ago quarter. ....