Logistics startup ‘Leap India’ profit 4X to Rs 37 cr in FY24
Logistics services company Leap India has reported a big leap in its bottomline. In FY 2024, the company’s profit quadrupled to Rs 37 crore.
This is a big win for the company as it indicates that their business is doing quite well. Leap India is a logistics company that specializes in supply chain solutions.
Profits have grown steadily as the company is able to squeeze more out of their operations while delivering what the clients want. This is exciting news regarding the company and its planned future.
Hero Electric files for bankruptcy
Hero Electric is down for a while, but it’s not all bad news. The company has faced issues with debt and failed to compete in the booming electric vehicle space.
This is sad news for many as Hero Electric was a pioneer in the industry. The filing raises questions about what will happen to its workers and customers who depend on its products. This is a difficult time for the company and the electric vehicle industry in India.
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Ola Electric to lay off 1500 employees
Ola Electric has announced that it will cut 1,500 jobs. This is part of the company’s efforts to cut costs and improve efficiency. The decision has shocked and upset many employees.
The layoffs are part of a bigger plan by Ola Electric to consolidate its focus on important business domains, the company said. The news has left many employees anxious about their future, though. The company said it would support those impacted in this challenging time.
Manufacturing sector growth falls to 14-month low in February
The manufacturing sector slumped to its slowest growth in 14 months in February. Manufacturers struggled with weaker demand and rising costs that made it difficult for them to expand.
Manufacturing is vital engine of employment and economic expansion, and this slowdown has fueled fears about the state of the economy.
Experts are now keeping an eye to see if this situation will continue or if conditions will improve over the next few months. The drop has left many hoping for a swift rebound to keep the economy on course.
Indian founders are reducing their stakes in unicorn start-ups
Indian founders of unicorn start-ups are cashing out parts of their ownership stakes. This trend is increasing as start-ups are under pressure to generate profits and live up to investor expectations.
Founders are cutting their stakes to attract new investors or to realize some of their wealth. Many experts say that this action helps startups remain stable and grow. But it also means that founders have less power over their companies. This transition mirrors the challenges of operating high-value start-ups in a competitive space.
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