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BGMI hits record sales in 2024, fuels Krafton’s 35.7% YoY mobile revenue growth
YourStory
·
6m ago
Medial
Battlegrounds Mobile India (BGMI) achieved record sales in 2024, contributing to a 35.7% increase in Krafton Inc’s mobile revenue. BGMI now boasts over 200 million downloads, solidifying its role as India’s top battle royale game. Krafton’s overall 2024 earnings reached 2.71 trillion KRW, with a 54% rise in operating profit. CEO CH Kim outlined plans for future growth, including expanding the PUBG universe and new titles, aiming for significant revenue expansion.
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KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr
Entrackr
·
5m ago
Medial
KRAFTON, the company behind BATTLEGROUNDS MOBILE INDIA (BGMI), has acquired a controlling stake in Pune-based game studio Nautilus Mobile for Rs 118 crore ($13.7 million). This is KRAFTON’s first full-control deal in India. Nautilus Mobile is best known for its popular mobile cricket game, Real Cricket. JetSynthesys fully acquired the studio in 2020, and KRAFTON later invested Rs 40.5 crore in 2022. With this acquisition, KRAFTON aims to boost Indian game development and expand its presence in sports gaming. JetSynthesys will remain a minority investor and continue working with Nautilus, especially in Esports. KRAFTON India CEO Sean Hyunil Sohn said this deal will help India become a global gaming hub. Nautilus Mobile CEO Anuj Mankar said the partnership will help Real Cricket grow internationally. KRAFTON has invested over $200 million in Indian startups since 2021 and continues to support local game developers. With India’s growing love for cricket and gaming, this move strengthens KRAFTON’s position in the country’s gaming ecosystem.
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Tata Motors Results 2024 Updates: Net profit rises 222%, declares dividend
Livemint
·
1y ago
Medial
Tata Motors reported a significant increase of 222% YoY in its net profit for the quarter ending March 2024, reaching ₹17,407.18 crore. The company experienced a notable surge of 13.3% in consolidated revenue, amounting to ₹1,19,986.31 crore. Tata Motors also declared a final dividend of ₹6 per share. The domestic passenger vehicle sales reached a record high of over 4.2 million units in FY24, with SUVs and emission-friendly powertrains driving the growth. The company recorded its highest-ever turnover and profits in FY24.
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Apple reports record quarterly revenue in India despite smartphone shipment dip
Economic Times
·
1y ago
Medial
Apple has reported a new quarterly revenue record in India for Q3 2024, continuing its strong growth in the country. Apple CEO, Tim Cook, stated that they have set revenue records in more than two dozen countries, including India. This comes as smartphone shipments in India fell by 2% YoY in the same quarter. Apple also announced a new global revenue record of $85.8 billion for the June quarter, with strong performance in services and Mac computers. Counterpoint Research expects Apple to rebound in the next quarter in India due to recent price cuts.
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Apple sets iPhone and iPad revenue records in India, opening four more stores, says CEO Tim Cook
Economic Times
·
10m ago
Medial
Apple reported record-breaking revenue in India for the quarter ending September 2024, with a 6% surge driven by strong iPhone sales. The company experienced growth in all geographic segments and set an all-time revenue record in India. Additionally, Apple plans to open four more stores in India in the coming quarters. The iPad category also achieved revenue records in India and saw double-digit growth in emerging markets. Apple is now the second-highest market share holder in India, trailing closely behind Samsung. The company's revenue for the September quarter reached $94.9 billion, beating analyst expectations.
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CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows
Economic Times
·
9m ago
Medial
Jaipur-based CarDekho Group reported an 11% YoY decline in net revenue at Rs 2,074 crore in fiscal 2024. However, after excluding income from discontinued used-car sales, the company reported a 54% growth in revenue from operations, reaching Rs 1,347 crore. CarDekho's net loss narrowed to Rs 340 crore in FY24. The company attributed its revenue growth to its insurance marketplace InsuranceDekho and fintech platform Rupyy. CarDekho also raised $80 million in growth capital and acquired shared mobility platform Revv. Competitors like Cars24 and Spinny also reported growth in operating revenue.
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Macs give Apple a chunkier India pie
Livemint
·
1y ago
Medial
Apple has set a new revenue record in India for the ninth consecutive quarter, with its iPhones remaining the biggest seller. However, surprising figures also show a new record for sales of the company's Mac laptops and desktops in the June quarter. Experts suggest Apple's growth in Mac sales is driven by increasing enterprise demand, and estimate that revenues from the Mac portfolio in India grew 67% year-on-year. While iPhones still account for the majority of Apple's India revenue, the growth in Mac sales could help the company further penetrate the Indian market.
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Apple India becomes top in India, earns Rs. 80,000 Crore revenue
Livemint
·
1y ago
Medial
Apple has become the top smartphone market revenue earner in India in 2023, according to a report by Counterpoint India. Although Apple's revenue from iPhones fell just short of $10 billion, it was enough to surpass Samsung as the leader in terms of smartphone sales revenue. Despite a lack of enthusiasm among consumers towards smartphones, Apple shipped more than 10 million iPhones for the first time, experiencing over 50% YoY growth. Apple is expected to maintain strong double-digit shipment growth in 2024.
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Spotify needs to keep the price hits coming
Livemint
·
1y ago
Medial
Spotify's first-quarter results exceeded expectations, with a 20% increase in revenue and 168 million euros in operating income. This strong performance has led to a surge in the company's stock price and has investors optimistic about its future prospects. Analysts predict further growth in revenue and operating income, with some expecting price increases and the launch of new subscription tiers to contribute to this growth. However, they also highlight the need for Spotify to balance user growth with profitability and address concerns around royalty payments to record labels.
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Paytm eyes India-scale AI system; fintech investing to build new software stack
Livemint
·
2y ago
Medial
Paytm's parent company, One97 Communications, is investing in artificial intelligence (AI) to develop an artificial general intelligence software stack. In its annual report, the company emphasized its AI ambitions and CEO Vijay Shekhar Sharma's letter to shareholders highlighted their pioneering role in Indian mobile payments and plans for small mobile credit with high credit quality. Paytm's Q1FY24 results showed a narrowed net loss of ₹357 crore YoY, with 39.4% growth in revenue to ₹2,341 crore and a 167% YoY growth in its credit distribution business.
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Airtel annual report: Revenue market share touches record
Economic Times
·
1m ago
Medial
Bharti Airtel's annual report reveals a record revenue market share of approximately 40% in FY25, driven by network expansion and strategic "tariff repair". The company installed over 20,000 new network sites and 44,000 kilometers of fiber, growing its customer base significantly in both mobile and broadband sectors. Airtel's annual revenue surged to Rs 1.25 lakh crore with robust growth in mobile and Africa sectors, amid strategic decisions to optimize operations and invest in 5G readiness.
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