Net profit after minority interest declined to ₹694.60 crore in July-September quarter from ₹1,205.40 crore during the corresponding period of last fiscal year. Consolidated net sales decreased 5.3% to ₹8,003.0 crore from ₹8,451.9 crore.

Jubilant Foodworks Ltd., the operator of Domino's Pizza and Dunkin' in India, reported a lower net profit of Rs 66.53 crore in the second quarter, compared to Rs 97.2 crore in the same period last year. Despite the profit dip, revenue rose to Rs 1,954.72 crore from Rs 1,368.63 crore, fueled by expansion and growth in the Indian market.

Cigarette maker Godfrey Phillips India Ltd on Monday reported a 23 per cent rise in consolidated net profit to Rs 248.31 crore in the second quarter ended September 30, 2024, fuelled by higher sales.

Britannia Industries' revenue from operations increased by 5.29 per cent to Rs 4,667.57 crore in Q2 FY25, up from Rs 4,432.88 crore during the second quarter of the financial year 2023-24. On the company's quarterly performance, Varun Berry, vice chairman and managing director, said, “A ~8% volume growth with a sequential increase in revenue and operating profits are satisfactory results in the face of severe commodity inflation leading to a tepid consumer demand scenario in most FMCG categories."

Parag Milk Foods reported a 15.9% rise in consolidated net profit, reaching Rs 29.21 crore in the second quarter ending September 2024. This compares to Rs 25.19 crore during the same period the previous year. The company saw a 10% volume growth and a 9% value growth. Total revenue from operations increased by 9.2% to Rs 871.

Coca-Cola India's consolidated profit plummeted by 41.82% to Rs 420.29 crore in FY24, despite a 4.24% increase in revenue, reaching Rs 4,713.38 crore. The company's advertising and sales promotion expenses surged by 35.47% to Rs 1,520.21 crore, while royalties paid to its US parent company also rose.

"During the quarter, the company maintained the growth momentum established in the first quarter. A strong performance across all major segments, supported by a robust order book, reflects increasing demand for its diverse product portfolio," said an earnings statement from Blue Star.

Bajaj Electricals experienced a 59% drop in second-quarter profits, attributing the decline to weaker demand for cooling products due to monsoon rains. Despite a slight revenue increase, the company's profits were impacted by reduced demand and cost-of-living pressures. Analysts anticipate a demand resurgence in the December quarter, fueled by festive season promotions.

Samsung India Electronics' revenue grew by a mere 4% in FY24, reaching Rs 102,626 crore, marking its slowest growth in eight years. This slowdown, largely attributed to a stagnant smartphone market and heightened competition, is believed to be behind recent layoffs and cost-cutting measures.

Apple India's dividend payout to its Irish holding company more than doubled to ₹3,302 crore in FY24, exceeding its net profit for the first time. This comes as iPhone sales surged in the country, boosting Apple India's revenue by 36%. While analysts acknowledge the impressive revenue, they also point to stagnant operating margins and increased inventory as potential challenges.

India's Pidilite Industries , which makes Fevicol adhesives and Dr. Fixit waterproofing products, posted a 6.2% jump in fourth-quarter profit on Tuesday, driven by lower input costs.

​​Santosh Raveshia, Managing Director, DOMS Industries Limited said, "As we conclude FY24, we are pleased to report on a period marked by significant achievements and strategic initiatives that have reinforced our strong position in the stationery and art materials market. We continued seeing positive business traction resulting in robust sales growth coupled with further elevation of margins, reflecting upon the strength of the ‘DOMS’ Brand to connect with its consumers."

DOMS Industries Limited reported strong Q1 FY25 results, with a notable 17.3% increase in revenue and 49.5% growth in profit after tax compared to Q1 FY24. The firm saw improved EBITDA and margin performance. The company also announced plans to acquire a majority stake in Unilcan Healthcare to expand its market.

Hugo Boss reported third-quarter operating profit slightly above expectations, but acknowledged it won't achieve its 2025 revenue and profit growth targets due to weak demand. Despite cost-cutting measures, the luxury fashion brand faces challenges from cautious consumer spending and a difficult market, particularly in China.

Titan Company experienced a 15% profit decline in Q2. The company attributes this to losses from a customs duty drop on gold. Despite this, Titan saw strong sales growth in its jewellery and watches segments. The company remains optimistic about the future, particularly the upcoming festive season. Titan is also closely watching the lab-grown diamond market and formulating its strategy.

Raymond Lifestyle witnessed a significant 69.72% drop in its consolidated net profit for Q2 FY'25, reaching Rs 42.18 crore. This decline is attributed to subdued demand and inflationary pressures. Despite this, the company remains optimistic about the future, citing recent positive trends in the festive and wedding season and plans for retail expansion and new product launches.

Trent reported a 46.9% increase in consolidated net profit to Rs 335.06 crore in the second quarter that ended September 30, 2024. Revenue from operations grew by 39.3% to Rs 4,156.67 crore. The company expanded its store footprint, with 800 large-format fashion stores across 184 cities. Also, it opened new stores for both Westside and Zudio brands during the second quarter of this fiscal.

Page Industries, the company that holds the license for Jockey and Speedo in India, saw its profit increase by 30% in the second quarter. The company's profit reached 1.95 billion rupees. This growth was driven by higher sales of premium athleisure wear. Despite a general slowdown in consumer spending, demand for these products remained strong.

Under Armour's shares surged 20% after the company raised its annual profit forecast, driven by cost-cutting measures and a focus on full-price sales. Founder and CEO Kevin Plank's strategy of reducing discounts and inventory helped boost gross margins, signaling a potential turnaround for the sportswear brand.

Safari Industries India reported a 25.40% YoY decline in consolidated net profit to Rs 29.66 crore in Q2 FY25, despite a 23.72% YoY increase in revenue to Rs 457.79 crore. The luggage maker's profit before tax also fell by 27.07% YoY to Rs 37.84 crore, primarily due to a significant rise in total expenses, including a 53.

Richemont, the owner of Cartier, fell short of profit projections for the first half of the year and expressed caution regarding China's recovery, causing a decline in European luxury stocks. The company's sales were impacted by a downturn in the Asia-Pacific region, particularly in China, where consumer confidence remains low.

Relaxo Footwears recorded a 17 percent drop in net profit to Rs 37 crore for the second quarter ending September 30. Revenue also decreased by 5 percent to Rs 679 crore. The company attributes the decline to lower demand and increased competition from unorganized players. Relaxo plans to add more distributors and optimize operations for future growth.

Grooming products maker Gillette India Ltd on Monday reported a 43.5 per cent rise in profit to Rs 133.01 crore for the quarter ended September 2024, led by a broad-based growth. The company, which follows the July-June financial year, had reported a profit of Rs 92.69 crore in the corresponding quarter of the preceding year, according to a BSE filing from Gillette India.

Coty expects lower annual profit than previously forecasted. Demand for beauty products is slowing down in the US and Australia. Consumers are choosing essential products over beauty items. Coty's prestige fragrance segment, however, reported a 9% rise in sales. This is due to new launches such as Burberry Goddess and Marc Jacobs Daisy Wild fragrances.

As of November 1, 2024 (it took some time for the notice to arrive), the Metafilter Community Foundation exists as an officially registered Delaware nonprofit non-stock corporation.

What this means:
1. We can now get an EIN, apply for a bank account, and apply to the IRS for not-for-profit designation.
2. The interim board of directors can get to work. We will have to adopt bylaws, approve (with community input) a policy and procedures manual, obtain insurance, and transfer the existing LLC and its assets into the new entity, among many other tasks.

We have a lot of work ahead.

Many people have expressed concern about this process, how long it's taking, and the future of the site. We share these concerns, which is why we've been donating so much of our time to this task. It will soon be time for members of our community to run for the Board of Directors, choose officers, join committees, and generally start doing all of the "community" things people have been calling for over the years. Think you know how to improve Metafilter? Now's the time to prove it. Friends, this is a long way from being over, but I believe that our community's best days are ahead of it. I expect that many people are going to be seeking internet communities in the coming months where civility and thoughtful discussion are still the norm, rather than the exception. If ever there were a time to do more outreach for new members and promote our site and what it can do, what it might yet be, this is it. If there's any silver lining to the current tumult in the world, it's that it gives us even more impetus to band together, talk to each other, and over-analyze those plates of beans. Now, let's get organized!

Wikimedia Commons Philadelphia County Prison

In an important move that returns federal government policy to the Obama era, today President Biden signed an executive order calling on the Department of Justice to ends its use of private prisons.  While this executive order does not end federal government reliance on for-profit immigration detention centers, it does require that no future contracts with private prison operators be entered into between the federal government and private prison corporations CoreCivic, GEO Group and others.  Use of the executive order to end private for-profit prison reliance has proven difficult politically as Obama ended their use before the 2016 election, but once Trump entered the White House, he rescinded the policy and made robust use of private prisons for federal prisoners as well as immigration detention.

According to Forbes, the Rockies rank 20th in MLB with an evaluation of $1.48 billion.

The Nonprofit Alliance of Bermuda issued a response following the government’s Throne Speech. A spokesperson said, “The Nonprofit Alliance of Bermuda commends the government for the focus of today’s Throne Speech on early intervention and prevention, cost of living reduction and ongoing collaboration with the Third Sector. “Continued emphasis on education reform as well as development of […]

 An increasing number of charities and nonprofit groups are electing to solicit donations through Telefundraising campaigns. Despite having different goals and needs, disparate organizations find that Telefundraising is an effective use of resources . For many groups, the option of telefundraisng makes sense.
For large groups with vast amounts of members, telephone fundraising provides an effective means of outreach.  Charities withsignificant fundraising budgets see impressive returns from telephone fundraising efforts. Large organizations are results oriented, this is why they continue to support Telefundraising campaigns.

Small non-profits use telephone fundraising efforts as ameans to gain support for little upfront investment.While wide-scale print and media campaigns are often beyond the reach of small organizations, phonecampaigns can be executed in an extremely cost effective manner. Adjustments to telephone campaigns are virtually instantaneous, while other types of fundraising efforts need much more planning to alter.
Organizations of any size can quickly realize significant benefits from telephone campaigns. The relative low cost of phone fundraising campaigns is an attractive feature, regardless of organizational size. Paired with simple initial equipment requirements, this makes raising money by phone an easy choice for most non-profits.


Raising money is not the only goal of telephone solicitation campaigns. Contacts that end without a donation can still prove to be useful. Basing success on donations alone, overlooks other possible benefits to an organization.
Receiving a call from an organization helps to personalize the charity to its donors. Phone calls keep organizations on the minds of their supporters. These calls provide donors with the latest information on the cause they support. Well informed donors provide more frequent support.
Donation calls properly made, can be an important source of feedback for an organization as well. Donors use telefundraisng contacts as an opportunity to sound-off about their feelings about an organization.  Organizations can take these valuable insights, and use them to tweak their efforts.
Solicitation calls can provide much more than donations alone. Fully grasping this truth greatly improves campaign results.Positive campaign results are limited only by the imaginations of the organizations which run them.


Calling campaigns are always an effective solicitation method. For the best possible outcomes, additional factors should be considered as well. Holidays represent an excellent time for telephone fundraising efforts. This time of year is when many donors are most receptive to giving.Wise non-profits leverage the holidays to increase their rate of success.
Topical campaigns have increase significance to givers. These campaigns can be combined with additional media efforts. By closely monitoring the news cycle, it is possible to create campaigns that take advantage of current news, and require no additional effort to spark media interest.
Close attention to relevant news is useful, but not essential to telephone fundraising. Calling campaigns that are well structured can drive their own press coverage.  Press coverage is useful in some cases, but not an absolute requirement for all calling campaigns.


Implementing a successful telephone campaign is not substantially different than other types of solicitation methods. Good Telefundraising applys traditional fundraising methods to the phone. The benefits of applying telephone fundraising are obvious.
Telephone campaigns are an excellent way to overcome the problem of donor fatigue. Combined with other strategies, Telefundraising can strengthen listing campaigns. Fundraising by phone can produce results in and of itself.
Carried out properly, there is no application where telephone fundraising campaigns cannot be attempted with positive outcome.Effective fundraising campaigns require detailed planning. Phone fundraising and other solicitation efforts should be designed to work in harmony.
Fundraising by telephone requires serious preparation. Calling efforts should be well managed and adequately staffed. The results of telephone campaigns are based largely on the dedication of the organizations which run them.


Pound for pound, telephone fundraising delivers better results than other fundraising techniques. The advantages of telephone fundraising fluctuate across organizations, but remain significant. While income is an important factor, it is not the only way to evaluate the performance of a fundraising effort.
Phone campaigns can be implemented with minimal staff requirements. Well managed small teams can out performs much larger groups . Small teams are capable of delivering large gains.
Changes to phone fundraising campaigns can be implemented without halting the camapaign. Important updates can be quickly integrated. News and current events can be incorporated into the campaigns virtually instantly.Comparable fundraising methods need significant time to alter.
Speaking directly with prospects ensures valid contact. Direct  contact with donors is assured with calling campaigns.

While being a charter school is distinct from being a for-profit school, one argument in favor of charter schools is because they, unlike public schools, can operate as for-profit businesses. While some might be tempted to assume a for-profit charter …Read more »

The CEO of a California gay charity has been charged with embezzling almost a million bucks of the organization’s money. The charity official, Jacob Joseph Aaron Rostovsky, has been charged with 53 felony counts including fraudulent claims, grand theft, misappropriation of public funds, insurance fraud, perjury and money laundering, according to KTLA-TV. The DA said […]

The post CEO of Gay Nonprofit Charged for Stealing Organization’s Money appeared first on The Lid.

The Central American nation of El Salvador currently holds nearly 5,932 Bitcoin (BTC), and sits on over $93 million of… Continue reading El Salvador’s Bitcoin adoption is paying off: $93M unrealized profit

The post El Salvador’s Bitcoin adoption is paying off: $93M unrealized profit appeared first on ReadWrite.

Libya’s War Economy: Predation, Profiteering and State Weakness Research paper sysadmin 9 April 2018

As Libya’s war economy persists, prospects for the restoration of functioning central governance become more distant.

Summary

• Libya suffers from interlinked political, security and economic crises that are weakening state institutions, damaging its economy and facilitating the continued existence of non-state armed groups. As rival authorities continue to compete for power, the resulting fragmentation and dysfunction have provided a fertile environment for the development of a pervasive war economy dependent on violence.
• This war economy is dynamic and constantly in flux. Relative to earlier problems, there were signs of progress on several fronts in 2017: a reduction in human smuggling, a tripling in oil revenues, and increased local action against fuel smuggling. Yet the dynamics that have supported the war economy’s rise remain.
• Libya’s war economy is highly damaging for the future of the state for three reasons:
  • First, it provides an enabling environment for networks of armed groups, criminal networks, corrupt businessmen and political elites to sustain their activities through illicit sales and predatory practices. Their operations are closely linked to the dispensation of violence, and are thus a spur for further conflict.
  • Second, the war economy perpetuates negative incentives for those who profit from the state’s dysfunction. Only effective governance, supported by a durable political settlement, can tackle the foundations of Libya’s war economy. But neither a return to functioning central governance nor the development of a security sector that is fit for purpose is in the interests of war economy profiteers, who are therefore motivated to act as powerful spoilers of reform.
  • Third, the political contestation and resource predation practised by those engaged in the war economy are having a disastrous impact on Libya’s formal economy, undermining what remains of its institutions. As the war economy persists, therefore, the prospects for the restoration of functioning central governance become more distant. This threatens to create a vicious cycle that accelerates further state collapse.
• Due to the limited capacity for coercion available to any actor or entity connected with the state, a strategy of co-opting networks of war economy profiteers has almost exclusively prevailed. This has failed. Drawing on the lessons from these attempts, a more successful policy must pursue targeted measures to combat the enabling structures of Libya’s war economy where possible, and to co-opt war economy profiteers only where necessary.
• In this, state authorities can do more to utilize what power they have to name and shame war economy profiteers in order to weaken the local legitimacy critical to profiteers’ survival. The state must present credible alternative livelihood opportunities to those engaged in, or benefiting from, the war economy. Progress will depend in part on the creation of positive incentives to abandon such activity. Where profiteers cannot be incentivized to move towards more legitimate economic activities, greater and more effective efforts must be made to reduce the profit margins of illicit schemes.
• The international community can do more to support Libyan efforts in countering the war economy. Cooperation over the targeting of criminal groups’ overseas assets, support for increased transparency over the dispensation of state funds, and measures to reduce the viability of illicit activities can all help to strengthen the position of state authorities.

Further reading

Discover the six things you need to know about Libya’s war economy

Congress is voting on a bill Tuesday that will empower the executive branch to remove the tax-exempt status from any nonprofit it deems to be supporting terrorists.

The Rhode Island Department of Education and the nonprofit Learning Accelerator are teaming to develop a strategic plan and a communications strategy aimed at expanding blended learning.

Explosives, chemicals and fertiliser group Omnia reported a 17% surge in interim operating profit on Monday thanks largely to standout performances from its mining segment and its South African agriculture business.

Infrastructure, materials, and mining group Raubex has reported a sharp climb in interim profit, helped by a pickup in SA road construction activity.

Anivesh Sinha is one of the graduate research assistants working with a team of faculty and students from five Commonwealth Campuses, with funding from a University Presidential Public Impact Research Award, to help Pennsylvania nonprofit organizations improve their cybersecurity practices.

An overview of the biggest business developments in SA and beyond.

An overview of the biggest business developments in SA and beyond.

Nonprofit housing developers wanting to renovate or build homes for Delawareans to purchase can now apply for the Catalyst Fund program through the Delaware State Housing Authority (DSHA).

NDTV Profit, the business news channel of the New Delhi Television Ltd, is set to resume regular operations from December.