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Tag: #IndianMarket

  • Xiaomi India shakes up leadership as it aims to regain market lead

    Xiaomi India shakes up leadership as it aims to regain market lead

    Mumbai: In a significant move, Xiaomi India is reshaping its leadership to reclaim its former dominance in the fiercely competitive Indian smartphone market. The announcement of Xiaomi India’s president, Muralikrishnan B, stepping down marks a turning point, coinciding with the recent appointment of industry veteran Sudhin Mathur as the company’s chief operating officer.

    Muralikrishnan’s resignation aligns with his personal goals as he pursues a doctorate at the prestigious Indian School of Business. He will take a six-month gardening leave following his departure. This exit is expected to make waves within the company, given Muralikrishnan’s crucial role in Xiaomi India’s previous market strategies.

    Xiaomi India, general manager, Alvin Tse since 2022, has been managing the company’s operations from China. Tse remains at the helm of Xiaomi India’s business, even as he entrusts Mathur with the company’s front-facing responsibilities. “Alvin will remain the India head, and Sudhin Mathur will now be the company’s new face. Alvin brought Mathur onboard to lead the operations,” Moneycontrol quoted a source as saying.

    Mathur, with an impressive background as the former managing director of Motorola and Lenovo, is anticipated to play a pivotal role in rejuvenating Xiaomi India’s market position. Under his guidance, the company aims to strengthen its strategy, foster sustainable growth, and capture a broader share of the market.

    The official announcement of Muralikrishnan’s exit is expected later today. Xiaomi India has yet to respond to requests for comment.

  • MosChip Technologies surges ahead in QYF25

    MosChip Technologies surges ahead in QYF25

    Mumbai: In an impressive showcase of pliability, MosChip Technologies Ltd reported robust growth in its QYF25 financial results, highlighting significant strides in revenue and profit despite a challenging economic landscape. The company’s consolidated total income surged to Rs 12,663.14 lakhs for the quarter ending 30 September 2024, marking a 74 per cent increase compared to Rs 7,269.73 lakhs in the same quarter last year. This remarkable rise underscores MosChip’s strategic agility and strengthening position within the semiconductor and software systems sectors.

    MosChip’s semiconductor division stood out as a significant contributor to this upward trend, generating Rs 9,854.74 lakhs in revenue this quarter, an impressive jump from Rs 5,638.66 lakhs in the prior year. The software and system design segment also posted robust growth, recording revenue of Rs 2,707.81 lakhs—up 75 per cent from Rs 1,546.80 lakhs last year. This surge reflects the company’s successful expansion into high-demand sectors and its focus on delivering value in software-driven solutions.

    The net profit before tax reached Rs 973.17 lakhs, reflecting a substantial year-over-year increase of 146 per cent from Rs 396.09 lakhs. This growth in profitability, despite rising costs, demonstrates MosChip’s efficient cost management and ability to capitalise on market demand. Profit after tax also exhibited a noteworthy gain, standing at Rs 973.15 lakhs, compared to Rs 362.57 lakhs in the same quarter of 2023—a leap of 168 per cent.

    The company’s operational expenses rose in line with its expansion, with employee benefits reaching Rs 6,378.23 lakhs this quarter, up from Rs 5,211.30 lakhs in Q2 2023. This 22 per cent increase is consistent with MosChip’s strategic hiring to support its growth trajectory, focusing on bolstering expertise in high-value segments. Other critical costs, such as finance expenses, rose slightly to Rs 192.65 lakhs compared to Rs 152.64 lakhs last year, which remains manageable within the context of its higher revenue base.

    Segmented growth highlights the efficacy of MosChip’s diversified approach. The semiconductor business, with earnings before interest, depreciation, and tax (EBITDA) reaching Rs 1,540.47 lakhs, saw a notable increase from last year’s Rs 1,576.24 lakhs, while the software and system design segment sustained an impressive EBITDA of Rs 120.62 lakhs despite a more competitive environment.

    With improved cash generation, MosChip’s cash flow from operations for the half-year rose to Rs 1,571.43 lakhs, compared to Rs 1,727.28 lakhs in the prior year. The company’s balance sheet reflects this cash stability, with an increase in cash and cash equivalents to Rs 599.45 lakhs from Rs 335.31 lakhs as of 31 March 2024.

    MosChip Technologies’ QYF25 results reflect a company thriving through innovative approaches, targeted investments, and a robust operational framework. As the company looks forward, its strategic focus on high-growth sectors promises continued performance improvements, setting a strong foundation for sustained growth.