Fashion e-tailer High Street Essentials reports ₹1.3 crore profits in FY19

BENGALURU : Delhi-based fashion e-tailer, High Street Essentials Pvt. Ltd. (HSE), the parent company behind women-centric fashion brands, FabAlley and Indya, has reported a net profit of ₹1.3 crore, on net revenues of ₹90.2 crore for the financial year ended March 2019, registering a 70% year-on-year revenue growth. According to the company’s unaudited financial results releases on Sunday, it’s EBITDA stood at ₹3.3 Cr for FY19, however, it did not reveal expenditure numbers. HSE’s co-founder Tanvi Malik told Mint that a majority of its sales came from online channels accounting for around 55% to 57% percent…

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Repco Bank business crosses ₹15,000 crore

Repco Bank, a cooperative bank under the administrative control of the Ministry of Home Affairs, today announced that its business has crossed ₹15,000 crore in FY19, with total deposits of ₹8,669 crore and advances of ₹6,337 crore. Established in 1969 with the prime objective of rehabilitating repatriates from Sri Lanka, Burma and Vietnam, the bank has a unique reputation of catering to the repatriate community. With presence in 108 centres and 10-lakh customers, this cooperative sector bank has a strong financial net worth of around ₹800 crore. In the past five years, it has…

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Automatad founder Vijay built a Rs 25 crore business with less than Rs 12 lakh in his pocket

Automatad founder Vijay Ram Kumar and his team have pivoted to build a programmatic ad-engine to help content publishing websites host ads to make money. Technology that is ahead of its time is often the key to success; it is also a recipe for failure – something Vijay Ram Kumar learnt in his entrepreneurial journey. Vijay started up in Bengaluru in 2012 in digital advertising. His idea was to tag user-generated content with ecommerce websites, helping content publishers earn money. The idea was a win-win. Content publishing websites made money…

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EPFO has received Aadhaar details of 1.8 crore members: Official

As many as 1.8 crore of the more than 4.5 crore members have submitted their Aadhaar details to the Employees’ Provident Fund Organisation (EPFO) so far. “We have got 1.8 crore Aadhaar cards in our system. We have verified cards of 40 lakh. That means their dates of birth, names and other details are verified from the UID (Unique Identification Authority of India) records,” said Central Provident Fund Commissioner VP Joy in Hyderabad. The members whose Aadhaar details have been verified are getting the facility of online transactions in the…

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