Companies: Pursuit of Profit Crew Shortage Aurobindo Looks ... · 10/03/2018 · IPO-bound...
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Shashwati.Shankar@timesgroup.com Bengaluru: Tanvi Gandhi, 25, might say her Tinder expedition has been successful after re- cently getting engaged to Tarun Sharma, altho- ugh she wasn’t on the dating app merely to find a mate. “With the number of cool options on dating apps, like playing games to fixing up a date at a nearby coffee shop, it makes it so much easier to get to know people outside of your friends cir- cle and understand who is right for you,” said Gandhi (name changed). Dating apps, she said, are the hottest tool for matchmaking among her friends and cousins. For the original digital-era matchmakers- —matrimonial websites such as Bharat Mat- rimony and Shaadi.com, both founded in 1997—that coolness factor and the growing ca- sual acceptance of dating apps in otherwise tradition-confined small cities and towns ha- ve emerged as a giant threat. Matrimonial websites began life as digital brokers for pa- rents seeking a match for their children, a practice rapidly waning. “We attract more independent-minded users who want to take control of finding their part- ners themselves versus relying upon their pa- rents,” said Sachin Bhatia, chief executive of TrulyMadly. The Delhi-headquartered dating app has more than 3 million app installs and at least 100,000 daily active users, nearly half of them from outside the big metro cities. In all, TrulyMadly, Woo and Tinder—leading dating apps in India—have more than 1million monthly active users in the country, according to a report in tech journal iGadgetsworld. Whi- le data for matrimonial websites were not avai- lable, experts foresee dating apps catching up. Ritesh Banglani, who led an investment in TrulyMadly last year while at Helion Venture Partners, said 25-35% of the “users on dating apps are looking at marriage; these apps will eat up the market share of matrimonial sites.” Helion, along with Kae Capital, invested . `35 crore in TrulyMadly in March 2015. “The trend of arranged marriages is likely to continue to decline... (and) the logical next step for matrimonial sites would be to stay re- levant in the market either by innovating or aiming to acquire a leading dating app in In- dia,” said Banglani, now a partner at Stellaris Venture Partners. IPO-bound Matrimony.com, which operates Bharatmatrimony.com, acquired Matchify in April last year but CEO Murugavel Janakira- man insists that dating apps aren’t able to scale up or make money in the Indian market. “We tried out Matchify (but) India has a largely tra- ditional user base so these apps are not going to work here,” he said. Gourav Rakshit, CEO of Shaadi.com, conce- ded that although the website gets about 11,000 new registrations everyday many of its users are prevalent on dating apps as well. “We did think there was a possibility of losing out to dating apps, which is why we tried them out and found our users also existent on those apps,” said Rakshit. “But we do believe that we cater to a different market. There will be an overlap in our users trying out different matchmaking mediums.” TrulyMadly, Tinder and Woo don’t believe monetization will be difficult. Considering that there are 25 million singles in India, the size of the country’s dating app industry is es- timated to be about $1.5 billion, according to TrulyMadly’s Bhatia and Sumesh Menon, CEO of Woo. Dating apps are making money through advertisments & micro transactions in the form of paid features. “We started mo- netising earlier this year and are on track to achieve . `15 crore for 2017,” said Bhatia. “We have seen a 40% increase in paid ‘likes’ that are our members get through our paid feature Sparks, which enables users to directly mes- sage their matches with contextual messages on their profile.” Gurgaon-headquarted Woo offers paid packa- ges ranging from . `250 to . `800 for features such as allowing users to record seven-second voice clips or access a customised list of questions to send to people based on specific interests. Forget Matrimonial Sites, Indians are Hooked to Dating Apps Now Wooing GenNext Over 1 million monthly users across leading dating apps TrulyMadly, Woo and Tinder 25-35% of dating app users looking at marriage These apps make money through advertisments and paid features With 25 million singles in India; Indian dating app industry estimated to be $1.5 billion 15 WWW.ECONOMICTIMES.COM Companies: Pursuit of Profit Govt of Bihar ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA Website : www.prdbihar.gov.in PR-8478(Police)16-17 GOVT OF BIHAR ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA Website : www.prdbihar.gov.in PR-8298(N.N.)16-17 Govt of Bihar ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA Website : www.prdbihar.gov.in PR-8385(N.N.)16-17 Vikas.Dandekar@timesgroup.com Mumbai: Hyderabad-based Aurobindo Pharma has expressed preliminary in- terest in acquiring Portuguese drug ma- ker Generis Farmaceutica for about $200 million. Generis has a presence across anti-infective, respiratory, anti-diabetes and dermatology drugs and sells to ho- spitals, clinics and pharmacies besides having a contract manufacturing and analytical services arm. Aurobindo’s latest bid comes on the heels of an earlier shot at Israeli-drug maker Teva’s UK product portfolio, where it was outbid by rival Intas Phar- maceuticals last month. The family-ow- ned Ahmedabad company paid a whop- ping $764 million to bolster its Europe- an operations. Aurobindo’s move to buy the Portugue- se firm is seen as resurrection of an earli- er interest after its Teva chase was foiled. The Generis deal is on the table for the past few months, it fits Aurobindo’s valu- ation range and its ambitions in Europe. “But final outcome is not very clear,” an industry executive informed ET, adding some other drug makers are also in the contention. Generis generated sales of around $60 million last year. Aurobindo and Gene- ris did not respond to qu- estions from ET sent last week. Aurobindo has been among Indian drug ma- kers keen on acquisi- tion-led growth of its in- ternational operations. Its global sales reached 13,896 crore in FY16, gro- wing from . `5,855 crore in FY13. In Europe, Aurobindo’s sales shot to . `3,130 crore last year, an 88% CAGR from . `468 crore 2013. The company wants to consolidate its presence among the top ten players in markets it is present in Europe. The top European countries for Aurobindo are France, Germany, Netherlands, Spain, UK, Portugal Italy and Romania. At a recent investor presentation the company said lower generics penetra- tion in Italy, Spain and France offer fu- ture growth as share of generics impro- ve. It is also targeting extended presen- ce in certain East European markets. Although generics are beginning to show green shoots slowly in the Euro- pean markets, a few within the Indian industry believe it to be a difficult mar- ket due to its scattered healthcare sy- stems, a slow economic growth rate, ne- ar stagnating healthcare spends and li- mited scope to increase prices due to tender-based procurements in key mar- kets. Besides securing manufacturing efficiencies remains a challenge. Aurobindo has worked around those is- sues and fared better compared to most of its Indian peers. Two years ago, Aurobin- do acquired the European business of the erstwhile Acatavis which incurred losses in the early phase. It has started showing signs of a turnaround in the last few quarters. In recent times, Indian drug makers ha- ve turned aggressive bidders for inter- national assets. Last month, it was re- ported that Sun and Lupin were among a handful of parties interested in buying the dermatology assets of German giant Bayer for a deal that may be priced at over $1billion. Aurobindo Looks to Buy Portuguese Drug Co Hyderabad-based pharma co may spend $200 m on Generis, which has a presence across anti-infective, anti-diabetes & dermatology drugs Taking a Shot Generis makes a broad range of products and supplies to hospitals, clinics and pharmacies It also has contract manufacturing and analytical services arm Aurobindo’s latest bid comes on the heels on an earlier shot at Israeli- drug maker Teva’s UK product portfolio It aims to be in top ten players in key Europe markets Co plans to extend to East European markets and augment products European Challenges: Scattered health systems, slow economic growth, limited pricing flexibility due to tender based procurements and manufacturing related efficiencies `13896 cr: Aurobindo’s FY16 global sales `3130 cr: Co’s FY16 Europe sales In recent times, Indian drug companies have turned aggressive bidders for international assets Anirban.Chowdhury @timesgroup.com Mumbai: Jet Airways had to cancel close to 50 flights across the country and delay several others on the back of a crew shortage on Wednesday, fi- ve people in the know said. The shortage stemmed from some is- sues the airline's pilots had with a new rostering system it has put in place, sa- id three of the people mentioned abo- ve. Jet operates more than 600 domes- tic and international flights daily. Air- port executives in Delhi, Mumbai, Bangalore and Hyderabad said Jet cancelled a total of 25 flights, while an executive at the state-run Airports Authority of India said more than 20 additional flights were cancelled in the rest of the country. “Jet has put in place a new rostering system that, optimises the rest hours of some of them. They haven't been happy with that,” said one of the people quoted above. He added that the shortage started since Diwali when some crew didn't report for flight operations. That led to reschedu- ling of flights, which ultimately casca- ded to cancellations on Wednesday. A Jet spokesperson later said the is- sues have been resolved. “Jet Airways is pleased to announce that operations across its entire network have retur- ned to normal, following the resolu- tion of issues caused by the non-avai- lability of an unusually high number of pilots who had reported sick. This had resulted in the disruption of certa- in flight schedules, causing inconveni- ence to the airlines’ guests,” he said. On queries of rostering, he said, “Rest hours are mandated by the DGCA and Jet remains compliant.” Crew Shortage Forces Jet to Cancel Flights The apps steadily gain traction owing to the coolness factor and the growing acceptance of dating apps even outside metros SACHIN BHATIA CEO, TrulyMadly We attract more independent- minded users who want to take control of finding their partners themselves than relying upon their parents Madhvi.Sally@timesgroup.com New Delhi: Air pollution levels in the national capital are expected to rema- in severe for at least three more days, unless wind speed picks up signifi- cantly from the current one kilometre per hour rate, say scientists. “Air pollution levels will prevail at se- vere and very poor conditions for the next three days owing to calm wind con- ditions, drop in minimum temperature and burning of biomass in Punjab and Haryana. We are not expecting rains in Delhi in the next 2-3 days, so air quality will not improve,” said an official at the System of Air Quality and Weather Fo- recasting and Research (Safar). Compared to 2015, air pollution levels in Delhi were two to three times higher on an average, at 200 microgram per cubic metre during Diwali period. Bursting of firecrackers during Diwa- li added to deterioration in air quality, aggravating respiratory problems for asthma and heart patients. Levels of particulate matter 2.5—or fine parti- cles smaller than 2.5 micrometres—o- ver Delhi stood at a ‘severe’ 348 micro- gram per cubic metre as of November 2, according to Safar. Delhi Air Pollution Levels to Remain Severe for 3 Days
Transcript of Companies: Pursuit of Profit Crew Shortage Aurobindo Looks ... · 10/03/2018 · IPO-bound...
Bengaluru: Tanvi Gandhi, 25, might say herTinder expedition has been successful after re-cently getting engaged to Tarun Sharma, altho-ugh she wasn’t on the dating app merely to finda mate.
“With the number of cool options on datingapps, like playing games to fixing up a date at anearby coffee shop, it makes it so much easier toget to know people outside of your friends cir-cle and understand who is right for you,” saidGandhi (name changed). Dating apps, she said,are the hottest tool for matchmaking amongher friends and cousins.
For the original digital-era matchmakers-—matrimonial websites such as Bharat Mat-rimony and Shaadi.com, both founded in1997—that coolness factor and the growing ca-sual acceptance of dating apps in otherwisetradition-confined small cities and towns ha-ve emerged as a giant threat. Matrimonialwebsites began life as digital brokers for pa-rents seeking a match for their children, apractice rapidly waning.
“We attract more independent-minded userswho want to take control of finding their part-ners themselves versus relying upon their pa-rents,” said Sachin Bhatia, chief executive ofTrulyMadly. The Delhi-headquartered datingapp has more than 3 million app installs and atleast 100,000 daily active users, nearly half ofthem from outside the big metro cities.
In all, TrulyMadly, Woo and Tinder—leadingdating apps in India—have more than 1 millionmonthly active users in the country, accordingto a report in tech journal iGadgetsworld. Whi-le data for matrimonial websites were not avai-lable, experts foresee dating apps catching up.
Ritesh Banglani, who led an investment inTrulyMadly last year while at Helion VenturePartners, said 25-35% of the “users on datingapps are looking at marriage; these apps will
eat up the market share of matrimonial sites.”Helion, along with Kae Capital, invested .̀ 35crore in TrulyMadly in March 2015.
“The trend of arranged marriages is likelyto continue to decline... (and) the logical nextstep for matrimonial sites would be to stay re-levant in the market either by innovating oraiming to acquire a leading dating app in In-dia,” said Banglani, now a partner at StellarisVenture Partners.
IPO-bound Matrimony.com, which operatesBharatmatrimony.com, acquired Matchify inApril last year but CEO Murugavel Janakira-
man insists that dating apps aren’t able to scaleup or make money in the Indian market. “Wetried out Matchify (but) India has a largely tra-ditional user base so these apps are not going towork here,” he said.
Gourav Rakshit, CEO of Shaadi.com, conce-ded that although the website gets about11,000 new registrations everyday many of itsusers are prevalent on dating apps as well.“We did think there was a possibility of losingout to dating apps, which is why we tried themout and found our users also existent on thoseapps,” said Rakshit. “But we do believe thatwe cater to a different market. There will bean overlap in our users trying out differentmatchmaking mediums.”
TrulyMadly, Tinder and Woo don’t believemonetization will be difficult. Consideringthat there are 25 million singles in India, thesize of the country’s dating app industry is es-timated to be about $1.5 billion, according toTrulyMadly’s Bhatia and Sumesh Menon,CEO of Woo. Dating apps are making moneythrough advertisments & micro transactionsin the form of paid features. “We started mo-netising earlier this year and are on track toachieve .̀ 15 crore for 2017,” said Bhatia. “Wehave seen a 40% increase in paid ‘likes’ thatare our members get through our paid featureSparks, which enables users to directly mes-sage their matches with contextual messageson their profile.”
Gurgaon-headquarted Woo offers paid packa-ges ranging from .̀ 250 to .̀ 800 for features suchas allowing users to record seven-second voiceclips or access a customised listof questions to send to peoplebased on specific interests.
Forget Matrimonial Sites, Indiansare Hooked to Dating Apps Now
Wooing GenNextOver 1 millionmonthly users across leading dating apps TrulyMadly, Woo and Tinder
25-35%of dating app users looking at marriage
These apps make money through advertisments and paid features
With 25 millionsingles in India; Indian dating app industry estimated to be
$1.5 billion
15�WWW.ECONOMICTIMES.COM
Companies: Pursuit of Profit
Govt of Bihar
ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA
Website : www.prdbihar.gov.inPR-8478(Police)16-17
GOVT OF BIHAR
ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA
Website : www.prdbihar.gov.inPR-8298(N.N.)16-17
Govt of Bihar
ljdkjh lsok tulsok dk ek/;e gS] /keZ bZeku dh rjg bls Hkh csnkx j[ksaA
Website : www.prdbihar.gov.inPR-8385(N.N.)16-17
Mumbai: Hyderabad-based AurobindoPharma has expressed preliminary in-terest in acquiring Portuguese drug ma-ker Generis Farmaceutica for about $200million. Generis has a presence acrossanti-infective, respiratory, anti-diabetesand dermatology drugs and sells to ho-spitals, clinics and pharmacies besideshaving a contract manufacturing andanalytical services arm.
Aurobindo’s latest bid comes on theheels of an earlier shot at Israeli-drugmaker Teva’s UK product portfolio,where it was outbid by rival Intas Phar-maceuticals last month. The family-ow-ned Ahmedabad company paid a whop-ping $764 million to bolster its Europe-an operations.
Aurobindo’s move to buy the Portugue-se firm is seen as resurrection of an earli-er interest after its Teva chase was foiled.The Generis deal is on the table for thepast few months, it fits Aurobindo’s valu-
ation range and its ambitions in Europe.“But final outcome is not very clear,” anindustry executive informed ET, addingsome other drug makers are also in thecontention. Generis generated sales ofaround $60 million last year.
Aurobindo and Gene-ris did not respond to qu-estions from ET sentlast week.
Aurobindo has beenamong Indian drug ma-kers keen on acquisi-tion-led growth of its in-ternational operations.Its global sales reached13,896 crore in FY16, gro-wing from .̀ 5,855 crore
in FY13. In Europe, Aurobindo’s salesshot to .̀ 3,130 crore last year, an 88%CAGR from .̀ 468 crore 2013.
The company wants to consolidate itspresence among the top ten players inmarkets it is present in Europe. The topEuropean countries for Aurobindo areFrance, Germany, Netherlands, Spain,
UK, Portugal Italy and Romania.At a recent investor presentation the
company said lower generics penetra-tion in Italy, Spain and France offer fu-
ture growth as share of generics impro-ve. It is also targeting extended presen-ce in certain East European markets.
Although generics are beginning to
show green shoots slowly in the Euro-pean markets, a few within the Indianindustry believe it to be a difficult mar-ket due to its scattered healthcare sy-stems, a slow economic growth rate, ne-ar stagnating healthcare spends and li-mited scope to increase prices due totender-based procurements in key mar-kets. Besides securing manufacturingefficiencies remains a challenge.
Aurobindo has worked around those is-sues and fared better compared to most ofits Indian peers. Two years ago, Aurobin-do acquired the European business ofthe erstwhile Acatavis which incurredlosses in the early phase. It has startedshowing signs of a turnaround in the lastfew quarters.
In recent times, Indian drug makers ha-ve turned aggressive bidders for inter-national assets. Last month, it was re-ported that Sun and Lupin were among ahandful of parties interested in buyingthe dermatology assets of German giantBayer for a deal that may be priced atover $1billion.
Aurobindo Looks to Buy Portuguese Drug Co Hyderabad-based pharma co may spend $200 m on Generis, which has a presence across anti-infective, anti-diabetes & dermatology drugs
Taking a Shot Generis makes a broad range of products and supplies to hospitals, clinics and pharmacies
It also has contract manufacturing and analytical services arm
Aurobindo’s latest bid comes on the heels on an earlier shot at Israeli-drug maker Teva’s UK product portfolio
It aims to be in top ten players in key Europe markets
Co plans to extend to East European markets and augment products
European Challenges: Scattered health systems, slow economic growth, limited pricing flexibility due to tender based procurements and manufacturing related efficiencies
`13896 cr: Aurobindo’s FY16 global sales
`3130 cr: Co’s FY16 Europe salesIn recent
times, Indiandrugcompanieshave turnedaggressivebidders forinternationalassets
Mumbai: Jet Airways had to cancelclose to 50 flights across the countryand delay several others on the backof a crew shortage on Wednesday, fi-ve people in the know said.
The shortage stemmed from some is-sues the airline's pilots had with a newrostering system it has put in place, sa-id three of the people mentioned abo-ve. Jet operates more than 600 domes-tic and international flights daily. Air-port executives in Delhi, Mumbai,Bangalore and Hyderabad said Jetcancelled a total of 25 flights, while anexecutive at the state-run AirportsAuthority of India said more than 20additional flights were cancelled inthe rest of the country.
“Jet has put in place anew rostering systemthat, optimises the resthours of some of them.They haven't been happywith that,” said one of
the people quoted above. He added thatthe shortage started since Diwaliwhen some crew didn't report forflight operations. That led to reschedu-ling of flights, which ultimately casca-ded to cancellations on Wednesday.
A Jet spokesperson later said the is-sues have been resolved. “Jet Airwaysis pleased to announce that operationsacross its entire network have retur-ned to normal, following the resolu-tion of issues caused by the non-avai-lability of an unusually high numberof pilots who had reported sick. Thishad resulted in the disruption of certa-in flight schedules, causing inconveni-ence to the airlines’ guests,” he said.
On queries of rostering, he said,“Rest hours are mandated by theDGCA and Jet remains compliant.”
Crew ShortageForces Jet toCancel Flights
The apps steadily gain traction
owing to the coolness factor and
the growing acceptance of
dating apps even outside metros
SACHIN BHATIACEO, TrulyMadly
We attract more independent-minded users who want to takecontrol of finding their partnersthemselves than relying upontheir parents
New Delhi: Air pollution levels in thenational capital are expected to rema-in severe for at least three more days,unless wind speed picks up signifi-cantly from the current one kilometreper hour rate, say scientists.
“Air pollution levels will prevail at se-vere and very poor conditions for thenext three days owing to calm wind con-ditions, drop in minimum temperatureand burning of biomass in Punjab andHaryana. We are not expecting rains inDelhi in the next 2-3 days, so air qualitywill not improve,” said an official at theSystem of Air Quality and Weather Fo-recasting and Research (Safar).
Compared to 2015, air pollution levelsin Delhi were two to three times higheron an average, at 200 microgram percubic metre during Diwali period.Bursting of firecrackers during Diwa-li added to deterioration in air quality,aggravating respiratory problems forasthma and heart patients. Levels ofparticulate matter 2.5—or fine parti-cles smaller than 2.5 micrometres—o-ver Delhi stood at a ‘severe’ 348 micro-gram per cubic metre as of November2, according to Safar.
Delhi Air PollutionLevels to RemainSevere for 3 Days
