One97 Communications, which operates Paytm, expects to generate free cash flow by the end of this year, a top company official said on Saturday.
The company reported that its losses for the quarter ended June narrowed to Rs 358.4 crore. Its losses were at Rs 645.4 crore in the same period a year ago. However, Paytm’s losses have widened when compared with Rs 168 crore reported in the preceding March quarter.
Meanwhile, ICICI Bank Ltd.’s first-quarter profit topped estimates. The core operating profit grew by 35.2% year-on-year to Rs 13,887 crore and the profit after tax saw an increase of 39.7% year-on-year, reaching Rs 9,648 crore in Q1-2024, Mint reports.
ICYMI: Four climate records have been broken so far this summer– the hottest day on record, the hottest June on record globally, extreme marine heatwaves, record-low Antarctic sea-ice
China is drilling some of the world’s deepest holes to hunt for natural resources.
Oh and finally, scientists have discovered a massive planet that’s as fluffy as a cotton candy!
In today’s newsletter, we will talk about
- A safe space for interfaith couples
- Taking Bihari cuisine to the world
- Chocolate meditation to calm the mind
Here’s your trivia for today: Who is the first Indian artist to win a Grammy Award?
Inspiration
A safe space for interfaith couples
Asif Iqbal, along with some other interfaith couples, started Dhanak of Humanity as a support group in 2004. The New Delhi-based non-government organisation, which was registered in 2012 under the Societies Registration Act, has so far helped over 5,000 interfaith and intercaste couples across India.
Tying the knot:
- By working in tandem with law enforcement authorities, Dhanak provides protection to couples through safe houses and helps them solemnise civil marriages.
- Safe houses for couples are shelters where a couple in distress can live together. However, so far only Delhi and Haryana have special cells, and Delhi, Punjab, and Haryana have safe houses for couples.
- Iqbal further explains that the Supreme Court in 2018 said that special cells can be set up in every district under the supervision of the jurisdictional District Magistrate and Superintendent of Police.
Food
Taking Bihari cuisine to the world
The Potbelly, a restaurant that specialises in Bihari cuisine, is in expansion mode. In the next few years, the brand aims to open outlets in Mumbai and Goa. Founder Puja Sahu has been able to steer the venture toward profitability despite the many challenges in the restaurant industry.
The journey:
- In 2015, the Resident Commissioner of Bihar invited Sahu to open an outlet in Bihar Niwas in Delhi, the first such independent restaurant to be housed in a state-owned establishment.
- Currently, the Potbelly has four outlets, with two located in Delhi, one in Gurugram, and one in Patna.
- In the next two to three years, Sahu hopes to open eight outlets across the country.
Health and wellness
Chocolate meditation to calm the mind
At some point in time, most of us have indulged in binging on chocolate to get those endorphins flowing. But eating it bit by bit, immersing all your senses to enjoy its texture and flavour can help one calm the mind, according to mindfulness expert Shaoli Bansal.
Stay focused:
- To start chocolate meditation, take a piece of wrapped chocolate. Before you unwrap it, notice everything–from its colour to its shape.
- Dark chocolate has magnesium and B vitamins as well as antioxidants, the most effective being epicatechin which combats inflammation and protects against any damage caused by free radicals.
- As with everything else, the key to deriving the most benefit from chocolate meditation is to indulge in the treat in moderation, Bansal says.
News & updates
- Apocalypse: Sam Bankman-Fried’s younger brother, who was a top lobbyist for failed crypto exchange FTX, considered purchasing the island nation of Nauru in the Pacific to create a fortified apocalypse bunker state, a lawsuit filed in Delaware bankruptcy court shows.
- Supercomputer: Abu Dhabi-based technology holding group G42 has unveiled the world’s fastest supercomputer, the Condor Galaxy-1 (CG-1), which has 54 million cores and a processing capacity of four exaflops, a press release said. The supercomputer is located in Santa Clara, California, and will be operated by Cerebras, a US-based AI firm under US laws.
- Fossil fuels: A draft statement by Group of 20 energy officials was edited on Saturday to reflect concerns from some members on phasing down “unabated” fossil fuels, Reuters reports.
Who is the first Indian artist to win a Grammy Award?
Answer: Ravi Shankar in 1968. Over the years, the sitar maestro won five Grammy Awards in total, including the Lifetime Achievement Award
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