#lossmaking

M&M’s margin surprise and exit from loss-making units enthuses investors

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Mahindra & Mahindra Ltd (M&M) shares gained 7% on Friday and the company added Rs4,000 crore to its market cap, after it announced a massive loss of Rs3,255 crore for the March quarter. What explains this?

The huge loss was a result of a write-down of M&M’s investment in Ssangyong and other international subsidiaries, something that has already been factored in. Excluding this…

Oyo Said to Offload More Loss-Making Hotels Amid Pandemic

Oyo Hotels and Homes, backed by SoftBank, plans to offload more properties around the world, three sources familiar with the matter said, as the coronavirus pandemic prompts it to speed up a retreat from a rapid global expansion.

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.

While Oyo does not plan…

Oyo Said to Offload More Loss-Making Hotels Amid Pandemic

Oyo Hotels and Homes, backed by SoftBank, plans to offload more properties around the world, three sources familiar with the matter said, as the coronavirus pandemic prompts it to speed up a retreat from a rapid global expansion.

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.

While Oyodoes not plan to…

SoftBank-backed Oyo to Offload More Loss-making Hotels Amid Pandemic: Report

The logo of OYO, India’s largest and fastest-growing hotel chain, installed on a hotel building is seen through wires in an alley in New Delhi, India. (Reuters)

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.

New Delhi / Bengaluru

Last Updated: April 29, 2020, 9:09 PM IST

India’s…

Loss-making factories should be privatised, officials say

Around one third of these factories need to be closed down with the MOI losing about K300 billion-K400 billion each year, said U Aung Kyaw Kyaw Oo, secretary of the Pyithu Hluttaw’s Investment and Industrial Development Committee.

For the remaining factories that are still operating, upgrades and overhauls of existing machinery and equipment are urgently required. The solution, officials…

ITC to soon shut down its loss-making retail brand Wills Lifestyle

ITC will soon shut down its premium retail brand Wills Lifestyle. This move is in line with the company’s larger strategy to restructure and remodel the loss-making lifestyle retailing vertical.

In earlier 2019, ITC had sold its other retail brand John Players to Reliance Retail and re-launched Wills Lifestyle as WLS to focus on sustainable fashion.

The company’s employees of the existing…