Bharti Airtel posts ₹2,866 cr loss in Q1 FY20 against profit of ₹97 cr a year ago

Agencies
August 1, 2019

Mumbai, Aug 1: Telecom operator Bharti Airtel on Thursday posted a staggering ₹2,866 crore loss for the first quarter of FY 2020, amid a fierce competition unleashed in the Indian telecom market by rival Reliance Jio.

Airtel had logged a net profit of ₹97 crore in the same period of the previous year, Bharti Airtel said in a statement.

The revenue of the Sunil Mittal-led company rose 4.7 per cent to ₹20,738 crore during the first quarter ended June 2019 as against ₹19,799 crore in the year-ago period.

For the June quarter, Airtel's India Average Revenue Per User - a key performance metric of mobile phone operators - stood at ₹129 against ₹123 in the March quarter.

Commenting on the earnings, Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel said the first quarter of the year has begun with a "healthy and equitable growth across all our lines of businesses".

"Headline pricing remained stable, albeit at low levels. We continue to remain focused on providing value to customers through our rewards platform, Airtel Thanks. This has led to the second consecutive quarter of ARPU increase," he said.

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Agencies
March 25,2020

In an unprecedented crisis despite Prime Minister Narendra Modi assuring the continuation of essential services like food and groceries, online marketplaces like Flipkart and Amazon along with delivery platforms like Bigbasket, Grofers and FreshToHomes hit a major blockade on Wednesday as local authorities shut warehouses and sent delivery boys back, even harassed them.

Millions of people across cities were left helpless at homes as essential items like fruits and vegetables, dairy and milk, meat and fish etc did not reach their doors despite placing orders well in advance. Later, the orders went dry.

While Grofers' warehouse in Faridabad was closed by the local law enforcement agencies, Bigbasket complained that the police stopped its delivery partners and "some of them were even beaten up by for no fault of theirs".

"We are not operational due to restrictions imposed by local authorities on movement of goods in spite of clear guidelines provided by central authorities to enable essential services. We are working with the authorities to be back soon,' Bigbasket tweeted.

In a statement to IANS, Bigbasket said that it will help to have better coordination between the Centre and state, and between the state and local police to "ensure that our delivery vans and bikes don't get stopped by the police. Bigbasket and bb daily are not taking new orders".

Furious people stormed the social media platforms, writing their plight to NITI Aayog CEO Amitabh Kant on Twitter.

"Sir, all e-commerce are down. Believe me I tried everything (Grofers, Bigbasket, Flipkart, Amazon, Big Bazaar), no delivery till 31st March or Server Down or No Service. Need to think how we can enable them through digital India," tweeted one user.

Kant tweeted back to Bigbasket: "They should give me specifics - State & location. I will act on it by getting in touch with concerned authorities & sorting it out. Govt guidelines exempt them. We will ensure that citizens are not impacted".

Kant also responded to Grofers: "Cold storages & Warehouses as well as delivery of all essentials goods including food, pharma thru E-Commerce are exempted under MHA order. I have spoken to CS & DGP, Haryana . They have taken immediate action to ensure that supply chains efficiently function for the citizens".

The subscription-based hyperlocal delivery startup FreshToHome sent messages to its customers, saying that despite the government declaring food delivery as essential, "we are facing hardships in continuing our operations".

"Please bear with us as we are working hard to unblock local authority hurdles," said the FreshToHome team.

Reports later surfaced that the Department for Promotion of Industry and Internal Trade (DPIIT) has initiated talks with the state Chief Secretaries asking them not to restrict movement of people engaged in home delivery of essential items, mentioned in the list of exempted items circulated by the Home Ministry.

Meanwhile, Flipkart said it has temporarily suspended its operations and services - including grocery items. The marketplace has decided to halt all orders from March 25 for all three supply chains -- groceries, non-large goods and large items.

"Flipkart has temporarily suspended orders as we assess the possibilities of operating in the lockdown. We are prioritising the safety of our delivery executives and seeking the support of the local governments and police authorities to meet the needs of our customers as they stay home during this lockdown," Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart, said in a statement.

E-commerce giant Amazon said the company has to "temporarily stop taking orders and disable shipments for lower-priority products.

"For all pending customer orders on lower-priority products, we are reaching out to customers and giving them a choice to cancel their orders, and receive a refund for prepaid items," said the company.

Witnessing a surge in demand, supermarket chain Biz Bazaar entered the fray, with launching doorstep delivery services in major cities like Delhi, Mumbai, Bengaluru and Gurugram.

However, within no time, Big Bazaar was flooded with calls, forcing the company to issue a statement, saying that "In light of the recent announcement, we are receiving an unprecedented number of requests for doorstep delivery. There could be a delay due to the restrictions on movements".

Already battling massive surge in demand, the online delivery platforms faced other issues too, including zero access to several high-rises across the country which have gone under complete lockdown with all entry and exit gates locked.

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Agencies
June 13,2020

The Brazilian government said that the Amazon rainforest witnessed deforestation of a record 829 sq km in May, the highest monthly level since 2015.

On Friday, the National Institute for Space Research (INPE) said that deforestation in the Amazon increased by 91 sq km compared to the same period last year, reports Xinhua news agency.

Between January and April, destruction of the forest by illegal loggers and ranchers rose 55 per cent, or a total of 1,202 sq km was wiped out, it said.

The Real-time Deforestation Detection system, a federal project created to monitor human activity in the Amazon, alerted authorities to the increase in the rate of destruction of the rainforest.

A recent study by the Amazon Environmental Research Institute (IPAM) warned that deforestation in 2020 could reach 11,900 sq km if the pace of May, June, and July follows the historical average.

Deforestation in the region has soared since President Jair Bolsonaro took office last year, according to conservation groups.

He has argued that more farming and mining in protected areas of the forest were the only way to lift the region out of poverty.

Bolsonaro's environmental policies have been widely condemned but he has rejected the criticism, saying Brazil remains an example for conservation.

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Agencies
January 20,2020

Washington D.C., Jan 20: An American bride asked for money from her invitees so that they can be on the 'exclusive guest list'.

Weddings can be surely expensive. But is it feasible for one to charge the guests to make up for the expenses?

According to Fox News, that is exactly what happened in a recent American wedding. A 19-year-old shared on Reddit that her cousin was getting married on Sunday and announced that she would charge 50 dollars to those who wanted to attend her wedding.

"She said that they can Venmo her money so there won't be no [sic] problems and everyone who paid will be added onto the 'exclusive guest list' which basically means you won't have to wait in line while other guests pay," wrote the user named DaintySheep.

While she refused to pay for entry into her cousin's wedding the bride-to-be contacted the elders in the family which ended up in an embarrassing situation.

"She wanted to get the money she spent on her special day back. I told her I wouldn't be able to come because this was outrageous and that I wish her well on her special day. She contacted my aunt and my aunt called me cheap and rude. My parents offered to pay for my entry, but I refused," continued the disheartened girl.

While in almost every nook and cranny of the world gifting the bride-groom with money is a tradition, asking for money from friends and family to replenish the money spent on a wedding is can be said to be a rare scenario.

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