Tata-owned Infiniti Retail reports Rs 15.89 crore profit in FY24

Tata group's Infiniti Retail, which operates Croma stores and sells electronics and smartphones on Tata Neu and Croma's shopping portals, reported a 25% drop in online sales last fiscal year. The company adjusted its strategy to avoid unprofitable discounting, often used to compete with Amazon and Flipkart. This shift, aligned with Tata Sons' focus on profitability, led to EBITDA breakeven and positive operating cash flow in FY24, with a profit of Rs 15.89 crore compared to a Rs 401.52 crore loss the previous year.