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BillDesk’s FY23 Profit Dips 5%, Revenue Inches Closer To INR 3,000 Cr Mark

Inc42 · 1y ago

BillDesk’s FY23 Profit Dips 5%, Revenue Inches Closer To INR 3,000 Cr Mark

Mumbai-based fintech firm BillDesk reported a 5% decline in net profit to INR 141.9 Cr in FY23 compared to the previous fiscal year. The company's operating revenue grew 10% to INR 2,678.3 Cr in FY23, while total expenditure increased by 12% to INR 2,561.5 Cr. Technical costs accounted for the majority of expenses, reaching INR 2,146.3 Cr. Employee expenses also rose, indicating an increase in headcount. BillDesk offers payment gateway and digital payment solutions, competing with Razorpay and Citrus Pay. A planned acquisition by PayU was terminated in 2021.

Related News

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Inc42 · 1y ago

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Flipkart Internet Private Limited, the B2C arm of Walmart-owned Flipkart, saw its operating revenue reach around INR 15,000 Cr in FY23. The operating revenue of Flipkart Internet increased by 42% to INR 14,845.8 Cr in FY23 from INR 10,477.4 Cr in FY22. The company managed to reduce its net loss by 9% to INR 4,026.5 Cr in FY23 from INR 4,419.5 Cr in FY22. Flipkart's total expenditure in FY23 was around INR 19,043 Cr, which included employee benefits, transportation costs, and advertising expenses.

Titan-Owned CaratLane’s FY23 sales jump to INR 2,169 Cr, profit dips to INR 82 Cr

Inc42 · 1y ago

Titan-Owned CaratLane’s FY23 sales jump to INR 2,169 Cr, profit dips to INR 82 Cr

Titan-owned jewellery startup CaratLane achieved operating revenue of INR 2,169 Cr in FY23, a growth of 73%. However, its net profit decreased by 8% to INR 82 Cr. The company's total expenditure rose by 69% to INR 2,068.5 Cr. CaratLane, backed by Tata, specializes in manufacturing and selling jewellery items in India and the US. The procurement cost, employee benefit expenses and advertising expenses were the major contributors to the increased expenditure. CaratLane's EBITDA margin expanded to 9.75%.Titan acquired an additional 27.18% stake in CaratLane earlier this year, valuing it at $2 Bn and taking its total stake to 98.28%.

Infra.Market’s FY23 sales cross INR 11,000 Cr mark but profit slips

Inc42 · 1y ago

Infra.Market’s FY23 sales cross INR 11,000 Cr mark but profit slips

Mumbai-based construction solutions provider Infra.Market reported a surge in sales, crossing the INR 11,000 Cr mark in FY23. The startup recorded an operating revenue of INR 11,846.5 Cr, a substantial increase of 90% from the previous fiscal year. However, its net profit declined by 17% due to higher depreciation and amortization expenses. Despite this, Infra.Market's cash and cash equivalents grew by 138.5% to reach INR 251.1 Cr by the end of FY23. The startup has made significant acquisitions and has raised over $600 Mn so far, with a valuation of $2.5 Bn.

WayCool Foods FY23: Loss Up 89% To INR 685 Cr, Revenue Crosses INR 1K Cr Mark

Inc42 · 12m ago

WayCool Foods FY23: Loss Up 89% To INR 685 Cr, Revenue Crosses INR 1K Cr Mark

Chennai-based agritech startup WayCool Foods reported a 62% increase in operating revenue, crossing the INR 1,000 Cr mark in the financial year ended March 31, 2023. The company, founded in 2015, sells food products under multiple labels and provides supply chain solutions. Its revenue from operations reached INR 1,251.4 Cr in FY23, compared to INR 772.3 Cr in the previous year. WayCool's total expenses also rose, reaching almost three times its revenue.

BillDesk’s growth slows in FY24; PAT drops to Rs 121 Cr

Entrackr

Entrackr · 2m ago

BillDesk’s growth slows in FY24; PAT drops to Rs 121 Cr

BillDesk’s revenue from operations decreased to Rs 2,334 crore during the fiscal year ending March 2024 from Rs 2678 crore in FY23, as per the company’s consolidated financial statements with the Registrar of Companies. BillDesk makes money by charging fees for processing and settling electronic transactions, which contributed over 70% of its total operating revenue of Rs 1,591 crore in FY24. Around 16% of its earnings came from managing loyalty programs for clients, while the remainder was generated through the sale of products such as PINS and e-top-up subscriptions, along with other operating activities. Billdesk earned Rs 112 crore in non-operating income from interest and gains on financial assets. Its total revenue stood at Rs 2,446 crore in FY24, down from Rs 2,765 crore in FY23. For the payment company, bank fees and services had been the largest cost center, accounting for 78.8% of the overall expenditure. In line with the drop in scale, this cost declined by 16% to Rs 1,804 crore in FY24. Despite the reduced scale, employee benefit expenses rose by 22.4% to Rs 300 crore. Spending on data, communication, legal, and information technology pushed the company’s total expenses to Rs 2,289 crore during the fiscal year. The decline in scale, coupled with higher employee expenses, led BillDesk to report a 14.8% drop in profit to Rs 121 crore in FY24 from Rs 142 crore in FY23. Its Return on Capital Employed (ROCE) and EBITDA margins also dipped slightly, settling at 5.77% and 9.24%, respectively. On a per-unit basis, the company spent Rs 0.98 to earn every rupee during the year. By the end of FY24, BillDesk's total current assets stood at Rs 2,612 crore, which included Rs 930 crore in cash and bank balances.

SaaS startup Atlan’s profit slips 19% to INR 7.74 Cr in FY23

Inc42 · 1y ago

SaaS startup Atlan’s profit slips 19% to INR 7.74 Cr in FY23

Singapore-based data collaboration software startup Atlan saw its profit after tax (PAT) decline by 18.70% to INR 7.74 crore in FY23 compared to the previous fiscal year. The decline was attributed to higher tax expenses in FY23 and an exceptional gain in FY22. However, Atlan's operating revenue surged to INR 93.83 crore in FY23 from INR 32.38 crore in FY22, primarily driven by overseas revenue. The company's total expenses rose by 203% to INR 85.53 crore in FY23, with employee costs being the primary contributor.

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Inc42 · 1y ago

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Yudiz Solutions reported a net profit of INR 1.33 crore in the first half of FY24, but recorded a loss of INR 4.2 crore in the second half. The company's operating revenue declined to INR 10.3 crore in H2 FY24 from INR 15.9 crore in H1 FY24, representing a year-on-year decrease of 37.2%. In FY23, Yudiz achieved a net profit of INR 2.7 crore on an operating revenue of INR 27.3 crore.

Premji Invest-Backed GIVA sold jewellery worth INR 165 Cr in FY23

Inc42 · 1y ago

Premji Invest-Backed GIVA sold jewellery worth INR 165 Cr in FY23

Aditya Birla Group-backed GIVA reported a 97% increase in operating revenue to INR 165 Cr in FY23, crossing the INR 100 Cr mark. However, the startup's net loss rose by 138% to INR 45.2 Cr. GIVA spent INR 77 Cr on selling and marketing, INR 74.3 Cr on procurement, and INR 21 Cr on employee benefit expenses. The EBITDA margin worsened to -25.3% in FY23. GIVA has raised $45 Mn in funding rounds and competes with BlueStone, CaratLane, and Melorra in the fashion jewelry market.

Rare Rabbit Bags INR 150 Cr From A91 Partners, Gruhas

Inc42 · 1y ago

Rare Rabbit Bags INR 150 Cr From A91 Partners, Gruhas

The startup secured INR 150 Cr as the first tranche of a planned INR 500 Cr funding round, with a pre-money valuation of INR 2,200 Cr ($264 Mn). Rare Rabbit’s revenue surged 77% YoY to INR 376 Cr in FY23, while profit increased 84% to INR 32.2 Cr, per Inc42 estimates.

PhysicsWallah Cofounder Alakh Pandey’s Remuneration More Than Halves To INR 4.6 Cr In FY23

Inc42 · 1y ago

PhysicsWallah Cofounder Alakh Pandey’s Remuneration More Than Halves To INR 4.6 Cr In FY23

PhysicsWallah's co-founder, Alakh Pandey, received a remuneration of INR 4.57 Cr in FY23, indicating a decline in remuneration. The average founder salary increased by 69.7% to INR 5.77 Cr in FY23. PhysicsWallah reported a 91% decline in net profit to INR 8.9 Cr in FY23, primarily due to increased expenses. Its operating revenue rose by 234% to INR 779.3 Cr in the same period. The edtech startup has expanded its services, including offline education, upskilling programs, and acquisitions.

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