Category Archives: Business

Jockey celebrates young artists with the culmination of the Jockey Juniors Times NIE Color Splash Contest

Mumbai, India, 14th May 2024: Jockey, the brand known for innerwear, sleepwear, and athleisure, today announced the winners of the Jockey Juniors Times NIE Colour Splash campaign, marking the final phase of the culmination conducted in six cities. The Colour Splash campaign was a nationwide talent hunt among children aged 6 to 12 years. It aimed to provide a platform for young artists to unleash their creativity along the theme of “Draw Your Superhero”. In this final phase, winners of the contest were honored at the Jockey Juniors Store across cities. Each winner received special limited-edition customized Jockey T-shirts featuring their unique Superhero drawing.

The campaign was held over four months from November ’23 to February ‘24. The competition saw the participation of over 7000 children from six metro cities namely Delhi, Mumbai, Kolkata, Bangalore, Chennai, and Hyderabad. 54 winners were announced from each of the 6 cities and 6 of them won limited-edition T-shirts featuring their designs. The winners were Onesimus Ozias Mondal from Bangalore, Atharv Gupta from Delhi, Adrian De Sa from Mumbai, Shayne Bhandari Remedios from Hyderabad, Sayonika Sengupta from Kolkata, and R. Prithika from Chennai.

The designs showcased a diverse range of themes and ideas, reflecting the children’s imaginative interpretations of superheroes. It was indeed a proud moment for the parents to witness the joy of seeing their kid’s superhero come to life on a Jockey Juniors Tee, and they enthusiastically flaunted the T-shirts to be part of the Jockey Juniors Superhero Brigade.

Commenting on the competition, Nihal Rajan, Chief Marketing Officer, Page Industries said, “We are delighted to witness the incredible creations showcased by young artists by partnering through the Colour Splash Contest. Jockey Juniors stands for empowering kids to express themselves freely, which is reflected in our vibrant range of innerwear and leisurewear. By providing children with the opportunity to unleash their creativity and portray themselves as superheroes in action, we aim to foster a culture of boundless imagination and creative expression.”

The campaign was conducted in collaboration with Times NIE, to recognize and nurture young talent.

Jockey’s core philosophy revolves around providing superior quality, comfort, and style. This commitment extends to its youngest consumers through Jockey Juniors, a fun and lively collection tailored for kids aged 3-12 years. Offering a vibrant range of innerwear, outerwear, thermals, and socks for boys and girls, the collection is conveniently accessible in retail stores and online through its website and other e-commerce platforms. With Jockey Juniors, kids can enjoy a blend of comfort and style in every moment while also unleashing their mischievous side.

Tata Power makes Karnataka EV ready with 220+ RFID enabled EV-charging points across state

Bengaluru, 14th May 2024: Tata Power, one of India’s largest integrated power companies and a leading player in the electric vehicle (EV) charging domain, continues to spearhead the growth of sustainable mobility in Karnataka. With over 220 charging points across the state, the company is actively expanding its EV charging network, also known as EZ Charge, contributing to Karnataka’s vision of embracing clean and efficient transportation. All charging points also have RFID card-enabled transactions which have further made the charging experience seamless ensuring that consumers can tap.charge.go without any hassle.

These chargers are conveniently located across major highways between Bengaluru, Mangaluru, Davangere, and Mysuru, and are offering sustainable solutions at popular tourist destinations like Chikmagalur and Coorg as well. Other important cities with a notable EZ Charge presence include Mangaluru, Mysuru, Hubli, Belgaum, Gulbarga, and Davangere. Chargers have also been deployed at prominent public locations like Taj, Park, Oberoi, Gokulam Hotels, Tata Croma, and Tanishq, ensuring seamless accessibility for electric vehicle users.

With an extensive network of over 150+ charging points strategically positioned in Bengaluru across key suburbs like Devanahalli and Electronic City, Tata Power is committed to minimizing charging distances across the capital city also.

Tata Power has also collaborated with renowned builders and societies like Brigade Gardenia and Divyashree Elan Homes (RWA). This strategic approach extends to key commercial complexes, forming a comprehensive charging network in the state. Moreover, the company’s strategic collaborations with entities like Decathlon and Titan further strengthen its position in Karnataka’s EV charging landscape.

In sync with Karnataka’s forward-thinking approach to electric mobility, Tata Power is actively advancing to fulfill the state government’s visionary objectives. By strategically placing charging points in key locations, Tata Power not only facilitates the growing EV adoption but also contributes significantly to Karnataka’s position as one of the leaders in EV adoption in the country.

Tata Power stands at the forefront of the electric vehicle charging domain, having forged impactful collaborations with state governments and municipal corporations nationwide. With a large market share, its commitment to sustainable mobility is exemplified through the extensive EZ Charge network spanning 530 cities and towns, 86,000 home chargers, 5300 public charging points, and 850 strategically positioned bus-charging stations. Present across prominent highways and diverse locations such as hotels, malls, offices, hospitals, residential complexes, etc., Tata Power is playing a pivotal role in accelerating e-mobility adoption across the country.

Ridham Gada appointed as the President of NAREDCO Maharashtra NEXTGEN

Mumbai, 14th May 2024 – In a unanimous decision, Mr. Ridham Gada, Partner at Prem Group, a renowned realty group based in Mumbai, has been elected as the new President of NAREDCO (National Real Estate Development Council) Maharashtra NEXTGEN, the vibrant youth wing of the prestigious realtors’ organization. Mr. Gada takes over the role from Mr. Rishabh Siroya, who will now serve as Chairman of NAREDCO Maharashtra NEXTGEN.

Ridham Gada expressed his enthusiasm about his new position, stating, “I am greatly honored and humbled by the confidence shown by the NEXTGEN committee. Being entrusted with such a pivotal role in the organization, I am committed to exceeding expectations and fostering significant growth for all entities involved with NEXTGEN. I look forward to working closely with the council and government to ensure a robust, transparent, and attainable real estate sector during my tenure.”

With over 15 years of experience in the real estate industry, Ridham Gada, a third-generation entrepreneur at Prem Group, is well-known for his innovative and dynamic approach to development. His tenure at Prem Group has been marked by numerous milestones and groundbreaking projects. He aspires to set new industry benchmarks and create living spaces that go beyond square footage, embodying the vision of ‘Life Beyond the Sq.Ft.’ His legal background in understanding bureaucratic complexities aids in advocating for positive transformations within the real estate sector.

Mr. Prashant Sharma, President of NAREDCO Maharashtra, praised the new appointment, “Ridham’s vision for innovation and his respect for heritage make him the ideal leader for NEXTGEN. His approach will surely inspire and guide our young realtors towards excellence.”

Mr. Rishabh Siroya, the new Chairman of NAREDCO Maharashtra NEXTGEN, commented on the transition, “Ridham’s dedication and innovative perspective have always set him apart. I am confident that under his leadership, NEXTGEN will achieve new heights and continue to make a profound impact on the industry.”

NEXTGEN aims to create a platform where young professionals in the real estate sector can come together to share experiences, enhance their skills, and influence the industry positively. Under the leadership of Mr. Ridham Gada, the organization is poised for a period of significant transformation and growth.

SPJIMR announces the launch of WISE Tech

Mumbai,14th May 2024: Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR) unveiled today the Wise Innovation Studio for Emerging Technologies (WISE Tech).

WISE Tech will bring together a diverse group of innovators who have a shared interest in developing and responsibly deploying new technology-based solutions to create a net positive impact on our society and planet. The WISE Tech community includes rising tech entrepreneurs, emerging SPJIMR student and alumni entrepreneurs, corporate innovators, and investors; CSR leaders looking to leverage emerging tech for greater corporate impact; and academicians who work on responsible, sustainable, and ethical aspects of innovation.

Sharing his thoughts on the launch of WISE Tech, Varun Nagaraj, Dean, SPJIMR, noted, “Society’s grand challenges need innovative and entrepreneurial responses, but such innovation needs to be wise – done for the right reasons and in the right way. WISE Tech’s goal is to be the knowledge and community hub for all matters related to tech-based wise innovation and entrepreneurship.”

WISE Tech will house the following initiatives:

Sunil Bhatia Start-up Resource Hub

The hub supports India’s entrepreneurial ecosystem by providing networking and learning resources, bootcamps, workshops, and various other resources for early-stage entrepreneurs. It hosts a vibrant community comprising mentors, investors, corporates, subject matter experts (SMEs), educators and founders, supported by an endowment from Sunil Bhatia, SPJIMR alumnus and former CEO of Infogain.

Accelerators

Two dedicated start-up accelerators champion wise innovation: ‘FinNovate’ for responsible finance and ‘EarthLab’ for sustainability-focused ventures. These accelerators admit around 30 start-ups annually and work closely with them to accelerate their growth and funding. This is achieved through a structured four-month program consisting of CXO mentors, a start-up curriculum, market access, and funding opportunities.

Entrepreneurship Fellowship

The entrepreneurship fellowship program is designed for early-stage entrepreneurs who have not yet developed a viable product or acquired customers. Annually, we aim to select up to 10 promising entrepreneurs and guide them in transforming their ideas into viable start-ups that will generate a net positive impact on the economy, society and the environment.

Wise Innovation Conclave

A unique academic-practitioner conference drawn from a big tent of academic scholarship in sustainability-oriented innovation, responsible innovation, ethics, technology, and society. The conclave brings together leading scholars, thoughtful chief innovation officers, chief sustainability officers, and CSR officers seeking inspiration and insights on how to adapt their innovation processes to achieve ambitious triple-bottom-line organizational goals.

Manoj Mohan, who previously led SPJIMR’s Centre for Financial Innovation, will now lead WISE Tech as its Executive Director. He will be supported by two eminent SPJIMR Executives in Residence: R. Ramanan, who formerly chaired the Atal Innovation Mission at NITI Aayog, and Haresh Chawla, a Partner at True North and one of the most influential commentators on India’s digital landscape.

Emirates Group announces 2023-24 results

INDIA, 14th May 2024– The Emirates Group today released its 2023-24 Annual Report, hitting new record profit, revenue, and cash balance levels.

Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations around the world to meet strong customer demand for its high-quality products and services.

For the financial year ended 31 March 2024, the Emirates Group posted a record profit of AED 18.7 billion (US$ 5.1 billion), up 71% compared with an AED 10.9 billion (US$ 3.0 billion) profit for last year. The Group’s revenue was AED 137.3 billion (US$ 37.4 billion), an increase of 15% over last year’s results. The Group’s cash balance was AED 47.1 billion (US$ 12.8 billion), the highest ever reported, up 11% from last year.

Combined Group profits for the last 2 years, at AED 29.6 billion, surpass pandemic losses of AED 25.9 billion during 2020-2022.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, of Emirates Airline and Group said: “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel-related services around the world, and because we were able to move quickly to deliver what customers wanted, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.

“Huge credit is also due to the UAE’s visionary leaders, especially HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group can flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”

HH Sheikh Ahmed added: “The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders.”

Many major projects are already underway, including a multibillion-dollar aircraft fleet and cabin renewal programme; new catering, cargo, and ground handling capabilities; advanced technologies to support the Group’s operations; expanded training and people development programmes; and initiatives to progress the Group’s sustainability agenda.

In 2023-24, the Group collectively invested AED 8.8 billion (US$ 2.4 billion) in new aircraft, facilities, equipment, companies, and the latest technologies to support its growth plans.

The Group’s total workforce grew by 10% to 112,406 employees, its largest size ever, as Emirates and dnata continued recruitment activity around the world to support its expanding operations and bolster its future capabilities.

The Group took significant strides in its sustainability journey during 2023-24, putting into action numerous initiatives focussed on the environment, its people, customers, and communities.

Environmental topics were high on the agenda during the year, as the UAE hosted the world’s biggest conference for climate action, COP28, in Dubai.

In 2023-24, Emirates signed new supply agreements to uplift sustainable aviation fuel (SAF) at its Dubai hub for the very first time, and also in Amsterdam and Singapore. The airline operated the first A380 demonstration flight using 100% SAF in one engine, collecting data to support industry efforts to enable a future of 100% SAF flying.

Recognising that airlines today have limited viable solutions to meaningfully reduce carbon emissions, Emirates established a US$ 200 million fund to support R&D projects that focus on reducing the impact of fossil fuels in commercial aviation. It also became a founding entity of Air-CRAFT, a UAE-based research consortium for renewable and advanced aviation fuels; and joined The Solent Cluster, a UK initiative focused on producing low-carbon fuels for a variety of sectors, including aviation.

dnata continued to invest and induct more electric and hybrid vehicles to its global fleet of ground support equipment (GSE), adding new baggage tractors, cargo loaders, and pushback tractors to its USA operations. It also converted and refurbished diesel-powered GSEs in Italy to run on Hydrogenated Vegetable Oil and electric power. dnata’s UAE businesses including dnata logistics, Arabian Adventures, Alpha Flight Services and City Sightseeing Worldwide, transitioned to biofuel for its landside fleet of vehicles.

During the year, dnata became the first combined air services provider to receive the International Air Transport Association’s environmental management (IEnvA) certification for its commitment to sustainability across its UAE businesses; and Emirates achieved IEnvA Stage One and the IEnvA Illegal Wildlife Trade module certifications, for its efforts in environmental stewardship and anti-wildlife trafficking.

The Group ramped up investments in people development, rolling out a comprehensive programme of learning and training options for its workforce in partnership with top universities and key industry partners. A Gender Balance Council was established to champion and promote gender equality within the Group.

The Emirates Group has expanded its ESG reporting in its latest 2023-24 report and are adopting aspects of the GRI standards. It plans to evolve its reporting to meet ISSB and CSRD requirements in the coming years[1].

Sheikh Ahmed said: “We enter our 2024-25 financial year on strong foundations for continued growth. Emirates will receive delivery of 10 new A350 aircraft in 2024-25, adding to our fleet mix and supporting the next phase of its network growth. dnata will continue to leverage synergies and scale across its business divisions to grow its footprint and capabilities. In tandem, we are investing resources to minimise our environmental impact, develop our people, look after our customers and the communities we serve.”

“The business outlook is positive, and we expect customer demand for air transport and travel to remain strong in the coming months. As always, we will keep a close watch on costs and external factors such as oil prices, currency fluctuations, and volatile environments caused by socio-political changes. Our business model has been tested before, and I am confident in our resilience and ability to respond quickly to opportunities and challenges.”
He added: “Looking further ahead, the Dubai government has announced plans to start the next phase of expansion at Al Maktoum International Airport, which will eventually be the new hub for Emirates and dnata’s operations. This AED 128 billion (US$ 35 billion) investment will significantly expand and enhance Dubai’s aviation and logistics infrastructure, supporting the city’s growth, and Emirates’ and dnata’s growth.

Emirates performance
Emirates’ total passenger and cargo capacity increased by 20% to 57.7 billion ATKMs in 2023-24, recovering to near pre-pandemic levels.

Providing customers with more connection options, Emirates restarted services to Tokyo Haneda, added capacity to 29 destinations, and launched new daily flights to Montréal, Canada. Emirates also inked codeshare and interline agreements with 11 new airline partners, further extending its network’s reach. By 31 March 2024, the Emirates network comprised 151 destinations across six continents, including 10 cities served by its freighter fleet only.

Emirates brought its flagship A380 and popular Premium Economy product to even more cities this year, as 16 more aircraft rolled out of its US$ 2 billion cabin retrofit programme, fully refurbished with the airline’s latest signature products. As of 31 March 2024, the Emirates A380 served 49 destinations, and customers could enjoy Emirates’ Premium Economy experience to and from 15 cities around the world.

Total fleet count at the end of March was 260 units, with an average fleet age of 10.1 years.

Emirates’ order book stands at 310 aircraft, after it announced orders worth US$ 58 billion combined, for 110 additional units of Boeing 777s, 787s, and Airbus A350s at the 2023 Dubai Airshow. These new generation widebody aircraft will replace older jets and support fleet growth, aligning with the airline’s long-standing commitment to fly modern aircraft that are efficient to operate, and able to offer customers the latest inflight comforts and experiences.
With increased capacity deployment and strong demand across markets, Emirates’ total revenue for the financial year increased 13% to AED 121.2 billion (US$ 33.0 billion). Currency fluctuations and devaluations in some of the airline’s major markets, notably the Pakistani Rupee, Egyptian Pound, and Indian Rupee, negatively impacted the airline’s profitability by AED 2.0 billion (US$ 0.6 billion).

The airline saw an operating cash flow of AED 37.6 billion (US$ 10.3 billion) in 2023-24, underpinning its strong commercial results and enabling the airline to grow the business going forward.

Total operating costs increased by 8% from last financial year. Cost of ownership (depreciation and amortisation) and fuel cost were the airline’s two biggest cost components in 2023-24, followed by employee cost. Fuel accounted for 34% of operating costs compared to 36% in 2022-23. The airline’s fuel bill increased slightly to AED 34.2 billion (US$ 9.3 billion) compared to AED 33.7 billion (US$ 9.2 billion) the previous year, with a higher uplift of 24% due to increased flying being balanced by a lower average fuel price (down 18%) including hedging gains.

Driven by the voracious appetite for travel across customer segments, the strength of its global network, and the appeal of its products, the airline hit a new record profit of AED 17.2 billion (US$ 4.7 billion) exceeding last year’s AED 10.6 billion (US$ 2.9 billion) result, with an exceptional profit margin of 14.2%, marking it the best performance in the airline’s history.

Emirates carried 51.9 million passengers (up 19%) in 2023-24, with seat capacity up by 21%. The airline reports a Passenger Seat Factor of 79.9%, rising from 79.5% last year. Passenger yield declined 2% to 36.6 fils (10.0 US cents) per Revenue Passenger Kilometre (RPKM), due to a change in cabin and route mix, fares and currency.

Emirates continued to invest in delivering ever better customer experiences. During the year, it invested AED 30 million to uplift its dedicated Emirates Lounges with refreshed facilities reopening to serve premium customers and frequent flyers in Brisbane, Dusseldorf, Frankfurt, Hamburg, Hong Kong, Johannesburg, Manchester and Munich. Emirates restored its signature Chauffeur Drive service to 82 cities across its network and introduced this complimentary offering to premium customers in Indonesia, Morocco, and Turkey.

The airline also implemented a slew of inflight enhancements from menus and amenities to entertainment content, key amongst which, were the launch of complimentary loungewear and meal pre-ordering in Business Class.

Emirates SkyCargo reaffirmed its position in global air logistics and trade, carrying 2.2 million tonnes of goods around the world in 2023-24, up 18% from the previous year, as increased passenger operations expanded available cargo capacity, and the leasing of three 747 freighters during the year unlocked immediate capacity to serve demand on busy routes. This reflects the high customer demand for its specialist logistics solutions, the reach and connectivity of Emirates’ global network, Dubai’s world-class sea-air hub capabilities, and the fruits of Emirates SkyCargo’s ongoing investments in digital technology, infrastructure, and products.

Despite continued challenges in global logistics, the cargo division reported a solid revenue of AED 13.6 billion (US$ 3.7 billion), contributing 11% to the airline’s total revenue. Cargo yield per Freight Tonne Kilometre (FTKM) declined by 32%, returning to pre-pandemic marketplace levels.

During the year, it launched Emirates Vital and Emirates Medical Devices, two purpose-built cargo solutions to serve the unique requirements of the life sciences and healthcare sector. It also launched Emirates Delivers in Kuwait to connect shoppers there with e-commerce brands in the UK, the US, and the UAE. Emirates Delivers is poised to scale significantly in the coming years, focussing on markets underserved by business-to-consumer delivery solutions.

At the end of 2023-24, Emirates’ SkyCargo’s total freighter fleet stood at 11 Boeing 777Fs. The cargo division expects delivery of its 5 additional Boeing 777Fs on order from mid-2024.

Under Emirates Group companies and subsidiaries, Emirates Flight Catering and MMI/Emirates Leisure Retail (ELR) reported notable results in 2023-24.

Emirates Flight Catering hit record revenues of AED 970 million (US$ 264 million) from its external customers, driven by traffic growth at Dubai’s airports. It supplied 76.9 million meals to airline customers, 19% more than the previous year, and saw rising demand for its other ancillary businesses including at Linencraft, its laundry facility which primarily serves airline and hospitality clients.

MMI/ELR revenue surged 18% to AED 2.9 billion (US$ 796 million), as it expanded UAE operations to meet growing wholesale and retail demand driven by the booming tourism sector. ELR recorded record sales growth globally, with strong contributions from its key markets of the UAE, the US and Australia.

Emirates’ hotel portfolio revenue over last year decreased by 2% to AED 660 million (US$ 180 million), reflecting the temporary closure of its Wolgan Valley resort in Australia.

With another year of strong performance, Emirates continued to meet all its regular aircraft-related payment obligations and repaid an additional AED 2.2 billion (US$ 596 million) from the AED 17.5 billion (US$ 4.8 billion) borrowed during the COVID-19 crisis. This substantially reduced its overall outstanding debt profile and placed the airline on a strong foundation for financing for its future growth and the new fleet acquisition programme.

In response to the challenges posed by volatile fuel markets during the financial year, Emirates deployed simple forwards and options across different products such as Brent and jet fuel to reduce current-year costs as well as secure significant future hedging volumes. In addition, it largely mitigated the impact of the higher interest rate regime on the results with effective management of the net exposure. Emirates continued with its balanced approach to managing the foreign exchange rate risk through the use of currency options, forward contracts, and natural hedges. The methodical approach allowed improved predictability of its cashflows against volatile market shifts, thereby enhancing financial stability.

Emirates closed the financial year with its highest-ever level of cash assets at AED 42.9 billion (US$ 11.7 billion), 15% higher compared to 31 March 2023.

dnata performance

dnata increased its profit by 330% to AED 1.4 billion (US$ 387 million) in 2023-24, reporting solid results across its business divisions.

dnata’s total revenue increased by 29% to hit a new record of AED 19.2 billion (US$ 5.2 billion), driven by increased flight and travel activity across the world. dnata’s international businesses account for 75% of its revenue, an increase of 3%pts from the previous year. Throughout the year, dnata won new customer contracts across its divisions and worked closely with its customers to support increased flight activity and travel demand, especially in its major markets: Australia, Europe, the UAE, the UK, and the US.

Laying the foundations for future growth, dnata’s investments in 2023-24 amounted to AED 464 million (US$ 126 million). Significant investments during the year included: new electric and hybrid ground support equipment for its airport operations as part of its environmental strategy, and the expansion of marhaba operations in the Philippines, Italy, and the UAE.

In 2023-24, dnata’s operating costs increased by 22% to AED 17.8 billion (US$ 4.8 billion), in line with expanded operations in its Airport Operations, Catering & Retail, and Travel divisions, as well as continued inflationary pressure across all markets mainly for labour and food supply.

dnata’s cash balance declined by AED 958 million to AED 4.2 billion (US$ 1.1 billion), primarily due to AED 2 billion (US$ 545 million) in dividend payments to its owner, ICD, plus the funding of investments and debt repayments. The business saw a positive operating cash flow of AED 1.9 billion (US$ 507 million) in 2023-24, a reflection of the substantial improvements in revenue.

Revenue from Dnata’s Airport Operations, including ground and cargo handling increased to AED 8.8 billion (US$ 2.4 billion).

The number of aircraft turns handled by Dnata globally grew by 9% to 778,026; and cargo handled increased by 5% to 2.9 million tonnes, reflecting new contracts won, and increased flight activity by Dnata’s airline customers across markets.

During 2023-24, dnata continued to invest in infrastructure and the latest technologies to respond to customer needs. It integrated autonomous drones into its UAE operations, implemented AI-powered solutions in Singapore, and continued to roll out One Cargo, its advanced cargo management system globally. dnata also announced it will expand operations into Rome Fiumicino Airport where its majority-owned subsidiary, Airport Handling, won a seven-year ground handling license. To support this new operation, dnata will invest €20 million in new and advanced ground equipment.

dnata’s Catering & Retail business accounted for AED 6.5 billion (US$ 1.8 billion) of dnata’s revenue, up by 35%. The inflight catering business uplifted 123.0 million meals to airline customers, a 10% increase from last year, as its airline customers across the world restored and expanded their flight operations.

The division expanded its customer base in key markets with notable contract wins in 2023-24 including from Sri Lankan Airlines and Turkish Airlines in Australia (Sydney and Melbourne), China Airlines in the Czech Republic (Prague), JetBlue in Ireland (Dublin), Biman Bangladeshi Airlines in Italy (Rome Fiumicino), Royal Jordanian in the UK (London Stansted), and Etihad Airways in the US (Boston). It also extended its airport retail network with new F&B outlets at Romania’s Bucharest Henri Coandă International Airport, and Sharjah Airport in the UAE.

Revenue from dnata’s Travel Services division grew by 48% to AED 3.5 billion (US$ 951 million), with strong contributions from Destination Asia, its destination management business in Asia, and Imagine Cruising, a cruise holidays business in which dnata has acquired a majority stake. Total transaction value (TTV) of travel services sold increased by 27% to AED 8.9 billion (US$ 2.4 billion), reflecting the division’s ability to deliver relevant products to meet strong demand across B2B and B2C travel segments globally.

In 2023-24, dnata’s travel division forged agreements with new tourism entities, hospitality brands, and other partners to expand its portfolio of travel products, services, and solutions. This includes a strategic partnership with AMEX GBT which doubled the size of its corporate travel business in the Middle East.

The full 2023-24 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at: www.theemiratesgroup.com/annualreport

BEML reports stellar performance in Q4 FY24 results: Net Profit jumps

BEML Ltd, India’s leading indigenized heavy equipment maker, has announced its financial results for the fourth quarter of FY24, ending March 31, 2024. The company has reported impressive growth across key financial metrics, reflecting its robust performance and strategic initiatives.

Key Highlights of BEML Standalone results

Net profit surge : Net profit for Q4 of FY 24 has soared by 62.5% to Rs 257.13 crore compared to Rs 158.22 crore in the previous financial year
Revenue Growth : Revenue has witnessed a significant increase of 9.1% at Rs 1514 crore in Q4 of FY 24 up from Rs 1388 crore in previous financial year.
EBITDA Growth: EBITDA for Q4 of FY 24 has registered a remarkable growth of 22.54% at Rs 375.3 crore compared to Rs 306.27 crore in the previous year. Also as year as a whole EBITDA has jumped up by 25% to Rs. 486 Crs compared to Rs. 389 Crs in previous financial year.
Margin Improvement : Gross margin has improved by 20% to 11.98% in FY 24 compared to 9.99% in FY23, driven by a favorable segment mix of business.
Cost Optmization : Employee costs have dropped by 2.5% YoY, marking the seventh consecutive quarter of YoY decline.
Stellar Dividend : The company has declared a dividend of 205% for shareholders for FY 24, underlining its commitment to value creation for investors.
Organizational Restructuring : BEML has recently undergone organizational restructuring, creating 11 strategic business units and 2 micro business units. This move aims to enhance focus on revenue generation and achieve targetable revenue in the near future.
Strategic Expansion : Management is strategically positioning the company to foray into new areas such as shipping and maritime, and infrastructure. This strategic diversification is expected to drive volume growth in the coming quarters, translating into returns for shareholders.
Commenting on results, Shri Shantanu Roy, CMD of BEML Ltd said, “We are delighted to report a strong performance for Q4FY24, with significant growth across key financial parameters. Our relentless focus on innovation, cost optimization, and strategic expansion has enabled us to deliver robust results despite challenging market conditions. As we embark on our journey towards new growth avenues, we remain committed to creating long-term value for all stakeholders.”

BEML Ltd, on the occasion of completing 60 years of its illustrious journey, reaffirms its commitment to indigenization and innovation in the manufacturing of heavy equipment for critical sectors such as defence, rail and metro, and mining and construction. With a legacy of six decades, BEML has been at the forefront of India’s indigenization efforts, contributing significantly to the nation’s self-reliance in defense and infrastructure development.

This Mother’s Day, Johnson’s Baby launches digital film celebrating diverse journeys to motherhood

Bangalore, 14th May 2024 – Johnson’s Baby, a pioneer in baby skincare launches a digital film titled ‘The Long Wait for Day 1’, a heartfelt tribute to mothers and their motherhood/pregnancy journey. On Mother’s Day, Johnson’s Baby’s latest film conceptualized by DDB Mudra celebrates the different journeys of mothers, including adoption, in vitro fertilization (IVF), or preterm, and reinforces the brand’s commitment to supporting motherhood in all its forms.

As an extension of Johnson’s Baby #PromisePehlePalSe campaign, ‘The Long Wait for Day 1’ follows the poignant stories of Neha, Maya, and Geet, each embarking on their unique paths to motherhood. From the anticipation of waiting on a hospital bed to the flashbacks of their journeys, the film captures the emotional resilience of mothers.

Neha, after nine years of trying to get pregnant, conceives through IVF, embodying the unwavering determination and hope of countless mothers facing fertility challenges. Geet anxiously awaits the arrival of her child through adoption, highlighting the beauty of different paths to motherhood. Maya’s journey reflects the strength and patience of mothers with premature babies, as she navigates the uncertainties of a preterm baby.

The campaign highlights that every mother has a different journey to Day 1, however every mother promises to protect their baby. In every journey, Johnson’s Baby partners with mothers to protect their babies from Day 1. The beautiful montage culminates with the brand’s commitment: ‘Pehle pal se protection hai har maa ka aur hamara vaada’

Commenting on the latest campaign, Mr. Manoj Gadgil, Business Unit Head-Essential Health & Skin Health & VP Marketing, Kenvue, “Every mother’s journey is unique, every mother’s journey is special, but some motherhood journeys are longer. While every mother has a different story to their Day 1 with their little one, their promise to protect from Day 1 is the same. So is ours! With the launch of our latest digital campaign, we celebrate the incredible strength and resilience of every mother, especially those who have faced many challenges to experience motherhood. Johnson’s Baby is committed to supporting mothers and their precious babies from the very beginning. As a brand which has partnered with parents for generations, we are proud to play a special role in every motherhood journey with providing superior products that nurture and help protect a baby from Day 1.”

Harshada Menon and Siddhesh Khatavkar, Group Creative Directors, DDB Mudra shared, “When it comes to motherhood, it’s never simple. We wanted to bring out the raw emotion, excitement, grief, and happiness that comes with this journey. Despite being a story of three moms in our film, in reality, it represents the story of many.”

This Mother’s Day, Johnson’s Baby celebrates the occasion with popular national and regional celebrities and influencers with the #JourneyToDay1 campaign engaging 1000+ mums on various communities. The brand will also host fun contests where macro mommy influencers will share their motherhood journey through a doodle book inviting fellow mums to share their unique motherhood stories and participate in this contest.

Ecom Express Strengthens its Leadership Team

Gurugram, 14th May 2024: Ecom Express Limited, a technology-driven end-to-end logistics solutions provider, announces the appointment of key leaders to its leadership pool. Ecom Express welcomes Pallavi Tyagi as Chief Marketing Officer, Praveen Kumar Agarwal as Head of Security and Loss Prevention, and Jyoti Tandon as Vice President – Financial Controller.

Over the last several months, Ecom Express has been expanding its leadership team to bring diverse industry veterans and experts in the areas of growth, product development, operations and financial controls.

Ajay Chitkara, CEO & MD, Ecom Express, expressed his confidence in the newly appointed leaders, stating, “With Pallavi, Praveen, and Jyoti joining our teams, we will strengthen our journey of sustainable growth and excellence. Their diversity and proven expertise will play a pivotal role in driving innovation, market leadership, security, and corporate governance for Ecom Express.”

Pallavi Tyagi joins Ecom Express as CMO and Digital Sales Head to lead Brand Transformation and conceptualize Marketing Initiatives across all channels. She comes with strong experience of over 18 years in Business, Products, and Operations and possesses the acumen to link marketing strategy and execution expertise to bring business results. Having worked on both sides, i.e. Marketing Communication Agencies, Solutions-Digitas, and Airtel Business, she has developed overall brand, and communication strategies and implemented integrated marketing plans across Verticals, the experience of which would help Ecom Express expand its market presence and enhance its customer experience.

Jyoti Tandon joins Ecom Express as Vice President – Financial Controller, bringing a wealth of financial acumen to the company. She is a Chartered Accountant with 15 years of experience in audit, assurance, and retail and construction sectors.

Praveen Kumar Agarwal joins Ecom Express as Head – Security and Loss Prevention, leading the charge in implementing robust security strategies and protocols across the company’s operations. With over 24 years of experience in the Telecom & IT industry, including key roles at Reliance Infocom, Tata Communications, and Bharti Airtel, Praveen has expertise in Business Operations, Infrastructure Development & Investment Strategy, Product Development & Lifecycle Management besides direct Sales. His wide-ranging experience will add immense value to Ecom Express, especially in establishing security and loss mitigation culture for the company.

Ecom Express looks forward to leveraging the expertise and leadership of Pallavi Tyagi, Praveen Kumar Agarwal, and Jyoti Tandon to drive innovation, efficiency, and excellence across its operations.