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Avenue Supermarts consolidated net profit rises 52.56% in the March 2021 quarter

Read more about Avenue Supermarts consolidated net profit rises 52.56% in the March 2021 quarter on Business Standard. Sales rise 18.47% to Rs 7411.68 crore ....

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Chopper carrying Lulu Group head crash lands in Kerala; taken to hospital

A helicopter carrying seven people
including NRI businessman M A Yusuf Ali crash-landed at a marshy land near here on Sunday morning, police said here.
All passengers including Yusuf Ali, his wife and three staff members of his Lulu Group and two crew members on board the chopper owned by Lulu Group have been admitted to a private hospital here.
All of them are safe. They are currently under observation, a top official of the Lakeshore hospital where they are treated told P T I.
The incident occurred at Panangad area at around 8.30 AM on Sunday.
A major accident was averted as the chopper crash landed in a marshy land, locals said. ....

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Indian must cherish current positive trend of de-escalation in Ladakh: PLA

With no forward movement at the latest round of Sino-India military talks on disengagement from the remaining areas in eastern Ladakh, the Chinese military has said that India should cherish the current positive trend of de-escalation and cooling down of tensions in the border area.
A day after the 11th round of Corps Commander-level talks that lasted for 13 hours, the Indian Army said in a statement on Saturday that both sides held a detailed deliberation on the disengagement of troops in the remaining friction points of Hot Springs, Gogra and Depsang in eastern Ladakh and agreed to jointly maintain stability on the ground, avoid any new incidents and resolve the outstanding issues in an expeditious manner . ....

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Self-driving startup Gatik works with Isuzu to build delivery trucks

By Jane Lanhee Lee
(Reuters) - Silicon Valley self-driving startup Gatik and Isuzu North America Corp on Tuesday said they will work together to build autonomous delivery trucks that Gatik will use to serve its retailer customers.
Gatik, which works with Walmart Inc in Arkansas and Louisiana and Loblaw Companies Ltd in Canada to deliver goods to stores from warehouses using autonomous trucks with safety drivers, has seen a boom in business as the pandemic has boosted sales at grocery stores.
What I can share is our revenue is in the millions. So this is not a free service that we offer, said co-founder and chief executive Gautam Narang. He said Gatik s business model for now is to be a delivery service provider for retailers using self-driving technology rather than selling the technology to automakers. ....

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Avenue Supermarts revenue jumps 18% YoY in Q4

The retail-chain operator said its standalone revenue from operations in Q4 March 2021 stood at Rs 7,303.13 crore compared with Rs 6,193.53 crore in the same period last year, recording a growth of 17.91% Y-o-Y.
As of 31 March 2021, the total number of stores stood at 234. During FY 2020-21, Avenue Supermarts opened 22 new stores and converted 2 stores into fulfilment centers for Avenue E-commerce.
The company added that its two years and older stores growth for the months of January-February 2021 was 6% as compared to same period last year. These stores saw a negative growth of 9.4% for the first 15 days of March 2021 as compared to first 15 days of March 2020. This is primarily due to full or partial lockdowns implemented from the start of March 2021 across cities due to increase in COVID-19 cases. The second fortnight of March 2021 shows significant growth as compared to same period last year. This is because of a lower base in the same period last year as lockdown mea ....

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