With a loss of Rs 4,500 crore, Byju’s FY21 report card has many red marks
Byju’s, the education technology company that is India’s most-valued start-up, today said it had earned Rs 2,428 crore in revenue in the financial year 2020-21 (FY21) translating into a loss of Rs 4,500 crore.
This is similar to the revenue figure of Rs 2,434 crore in the previous year, though the difference is that the bottom line in 2019-20 showed a profit of Rs 51 crore. Read more
Exports rise marginally in August; trade gap more than doubles to $27.98 bn
India’s exports rose marginally by 1.62 per cent to USD 33.92 billion and trade deficit more than doubled to USD 27.98 billion in August, data released by the commerce ministry said on Wednesday.
Trade deficit in August 2021 stood at USD 11.71 billion. Read more
China’s Xi visits Kazakhstan ahead of summit with Putin
Chinese President Xi Jinping on Wednesday started his first trip abroad since the outbreak of the pandemic with a stop in Kazakhstan ahead of a summit with Russia’s Vladimir Putin and other leaders of a Central Asian security group.
Xi’s trip underlines the importance Beijing places on ties with Russia and Central Asia as the ruling Communist Party promotes its strategic ambitions amid tension with Washington, Japan and India. Read more
WPI inflation eases to 12.41% in Aug as prices of manufactured goods dip
The wholesale price-based inflation eased to 11-month low of 12.41 per cent in August, on softening in prices of manufactured and fuel products, even as food items remained expensive.
Although the Wholesale Price Index (WPI) based inflation declined for three consecutive months, it remained in double digit for 17th months beginning April last year. Read more