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Today’s Headlines:

1.Marico reports 51% fall in consolidated net profit in Q4

Marico posted 51.12 % year-on-year fall in consolidated net profit at Rs 194 crore for the quarter ended March 2020. Economic Times reports that its consolidated revenue declined 7 per cent YoY to Rs 1,496 crore. However, operating margin of domestic business improved to 22.80 per cent over 21.5 per cent YoY. The company aims to maintain EBITDA margins at over 20 per cent in the India business over the medium term.

2. Flipkart elevates Sriram Venkatraman to CFO for its Flipkart Commerce

Flipkart has appointed Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra), as seen on Firstpost. This appointment will be effective immediately. In his new role, Sriram will be responsible for key finance operations and functions at Flipkart and Myntra. He will also be responsible for Corporate Development at Flipkart, while Procurement, Planning and Analytics and Decision Sciences will continue to report to him.

3. Netflix India ropes in Abhishek Vyas from Zee Studios for original films

Netflix India has roped in Abhishek Vyas from Zee Studios to strengthen the Netflix India Original Films business, according to Financial Express. Vyas brings the experience of producing films like ‘Manikarnika’ and ‘Good Newz’ among others. Vyas will work closely with Aashish Singh, Director – Original Film, Netflix India.

4. Zomato’s Nishant Jain joins BharatPe as Chief Business Officer

BharatPe, India’s merchant payment and lending network company, has brought in Nishant Jain as Chief Business Officer. He will be responsible for charting out BharatPe’s next phase of growth and will work on the company’s aggressive plans to scale up its footprint to 10 million merchants this year. Prior to this, he was with Zomato as Head of Sales.

5. Snapdeal forays into gaming; adds games from Gamezop

E-commerce marketplace, Snapdeal ventures into gaming by adding a range of popular games from Gamezop to its platform, according to Techradar. Through this arrangement, users on Snapdeal can access games like Savage Revenge, Tower Twist, etc which come with discount codes.