Reliance Retail’s private labels revolution spooks global consumer goods makers

Inside supermarkets of Reliance Retail, run by India’s richest man, Mukesh Ambani, little-known food and home cleaning brands take pride of place on shelves alongside global labels owned by giants Nestle, Unilever and Coca-Cola. Products like Snac tac noodles and Yeah! colas are Reliance’s private label brands – and billionaire Ambani’s not-so-secret weapons as he … Read more

ITC’s Q1 PBT falls 33.8% to Rs 3,435.88 cr, revenues decline 17.2%

A steep decline in cigarettes and hotels revenues due to the nationwide lockdown, imposed to contain the Covid-19 pandemic, dragged diversified conglomerate, ITC’s profit before tax (PBT) 33.81 per cent to Rs 3,435.88 crore in the June quarter. Revenues from operations fell 17.21 per cent to Rs 10,478.46 crore. Profit after tax was down by … Read more