Latest News | RattanIndia Enterprises Q1 Net Profit Rises Three-fold to Rs 851 Cr
Get latest articles and stories on Latest News at LatestLY. RattanIndia Enterprises on Tuesday reported over three-fold year-on-year jump in its net profit to Rs 851 crore in three months to June 2024.
Mumbai, Aug 13 (PTI) RattanIndia Enterprises on Tuesday reported over three-fold year-on-year jump in its net profit to Rs 851 crore in three months to June 2024.
The company had posted a profit after tax of Rs 178 crore in the first quarter of FY24, RattanIndia Enterprises said in a statement.
Its revenue from operations grew 70 per cent to Rs 2,494 crore from Rs 1,472 crore a year ago, it added.
The company said it is driving the e-commerce business as one of the largest sellers on Amazon India through its wholly-owned subsidiary Cocoblu Retail Ltd.
The revenue of Cocoblu Retail Ltd for Q1 FY25 stood at Rs 1,444 crore, up 19 per cent year-on-year from Rs 1,212 crore in the same quarter of the year earlier, it stated.
The business served approximately 2.8 crore orders during the quarter, averaging about 3.6 orders per second, it added.
Cocoblu Retail has cumulatively served more than 21 crore orders to date across six product categories, RattanIndia Enterprises said.
RattanIndia has a presence in various businesses like e-commerce, electric mobility Fashion brands, Fintech (WeFin), and Drones.
Shares of RattanIndia Enterprises fell 0.61 per cent to Rs 80.37 apiece on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)