Tuesday, Jun 19 2018 | Time 21:47 Hrs(IST)
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  • First conference on environment to be held in Bihar on Jun 24 and 25: Modi
  • Nitish asks authorities to revive Chandan reservoir project’s irrigation system
  • One child killed, 20 injured in road accident
  • Prepare fully for any eventuality,Naveen directs the administration
  • 3 MoUs signed and 6 at advanced stage under ‘Adopt a Heritage’ scheme: Culture Ministry
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  • Villagers along Indo-Bangla border in Meghalaya cry development
  • Mamata announces 18 per cent DA hike for Bengal govt employees with effect from Jan, 2019
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  • J&K Guv recommends Governor's rule in J&K to President
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  • Highway traffic restored, centre’s assistance requested to control Manipur flood
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BankBazaar operating revenue up by 91 pc in FY18

BankBazaar operating revenue up by 91 pc in FY18

Chennai, June 13 (UNI) Leading online financial services marketplace BankBazaar announced a 91 per cent growth in the company’s operating revenues for FY18.

The operating revenue grew to Rs103-crore up from Rs54-crore in FY17.

The company’s total revenues for FY18 also grew to Rs 118-crore from Rs 71-crore in FY 17.

According to the company, this revenue growth was fueled largely by an increase in organic visits, which accounted for almost 70 per cent of the total traffic.

BankBazaar over the years has become synonymous with personal finance in India. In FY18, the website traffic more than doubled and as many as 42 per cent of these were returning visitors.

Over 57mn people searched for credit cards while 63.5mn people searched for loans on BankBazaar. The high number of organic and returning customers helped BankBazaar control customer acquisition costs.

This is evident from the fact that the total marketing costs including brand marketing as a percentage of revenue fell by 30 per cent compared to the previous year. Further, salary cost as a percentage of revenue also fell by 43 percent, which indicates strong economies of scale as the tech-driven platform continues to grow.

Consequently, EBITDA losses as percentage of revenue came down by 34 per cent, highlighting the efficiency with which BankBazaar has managed to rein in overall expenses, the company said.

BankBazaar is expecting over 400mn visitors in FY19. The company is also preparing for an IPO in 2020-22, it added.

UNI JPG SNU 1814

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Public deposits are safe in Govt banks: Goyal

Public deposits are safe in Govt banks: Goyal

19 Jun 2018 | 7:59 PM

New Delhi, June 19 (UNI) Finance minister Piyush Goyal assured on Tuesday that the public deposits in the Public Sector Banks (PSBs) are extremely safe.

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Power capacity additions: 5 GW by 2022 & 30 GW by 2030

19 Jun 2018 | 7:49 PM

New Delhi, Jun 19 (UNI) Ministry of New & Renewable Energy declared medium and long term target for off-shore wind power capacity additions, which are 5 GW by 2022 and 30 GW by 2030, a statement said.

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Kottayam-Kochi Rubber Market Rates

19 Jun 2018 | 7:17 PM

Kottayam, June 19 (UNI) Following were the Rubber Market rates
announced by the Rubber Board here today per quintal
KOTTAYAM
RSS FOUR Rs 12600
RSS FIVE Rs 12150
ISNR TWENTY: Rs 11900
SIXTY PERCENT LATEX: Rs.

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Heimtextil India & Ambiente India fair from June 27

19 Jun 2018 | 7:11 PM

Mumbai, June 19 (UNI) Running into its 5th edition, Heimtextil India & Ambiente India will open doors this month from 27 - 29 June at Pragati Maidan, New Delhi.

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Range Rover Sport SVR, SVAutobiography bookings open

Range Rover Sport SVR, SVAutobiography bookings open

19 Jun 2018 | 6:57 PM

Mumbai, Jun 19 (UNI) Bookings for dynamic Range Rover SVAutobiography and Range Rover Sport SVR has started, Jaguar Land Rover India announced.

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