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Jio Financial Services reports flat growth in Q1 FY25 as interest income declines 43%

EntrackrEntrackr · 1y ago
Jio Financial Services reports flat growth in Q1 FY25 as interest income declines 43%
Medial

Jio Financial Services has published its first quarter results for the ongoing fiscal year (FY25). Its revenue from operations remained flat at Rs 418 crore in Q1 FY25 as the firm’s interest income declined sharply, Jio Financial Services’ filings with the National Stock Exchange show. The Mumbai-based company posted Rs 1,855 crore in revenue with a profit of Rs 1,604 crore in the fiscal year ending March 2024. Income from the interest, which accounted for 38.5% of the total operating revenue, declined by 42.7% to Rs 161 crore in Q1FY25 from Rs 281 crore in Q4 FY24. Income from fees/commissions and net gain on fair value change added Rs 38 crore and Rs 218 crore, respectively, to Jio Financial Services coffers in the quarter ending June 2024. Despite fall in interest, its controlled expense mechanism and growth in net gain on fair value helped Jio Financial Services to post profits of Rs 313 crore in Q1 FY25. As compared to Q1 FY24, the firm experienced a decline of 5.7% in profits. Jio Financial Services received the RBI’s approval to convert into a core investment company from a non-banking financial company (NBFC) last week to offer wider financial and wealth management services. Jio Financial Services and BlackRock Inc. have also sought approval for the application to the Securities Exchange Board of India to act as co-sponsors of mutual funds, according to its previous filings. The two companies also signed an agreement in April 2024 to form a 50:50 joint venture to operate a wealth management company. Jio Financial Services was listed on stock exchanges using the price discovery method following its spin-off from Reliance Industries Limited’s financial services division in August 2023. The company is currently trading at Rs 348.25 per share (as of 11.30 AM) with a market capitalization of Rs 2,21,253 crore.

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Infibeam Avenue reports 43% growth in PAT in Q1 FY25

EntrackrEntrackr · 11m ago
Infibeam Avenue reports 43% growth in PAT in Q1 FY25
Medial

Fintech firm Infibeam Avenues on Friday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The company witnessed a 3.6% increase in gross revenue whereas its profit spiked 43% growth during the quarter ending June 2025. Infibeam Avenues’s gross revenue grew to Rs 753 crore in Q1 FY25 from Rs 727 crore in Q4 FY24, according to the company’s unaudited consolidated quarterly report filed with the National Stock Exchange. The payment business formed 93.6% of the total revenue which stood at Rs 705 crore in Q1 FY25 while the income from providing customized e-commerce solutions brought Rs 39.3 crore to its coffers. Infibeam claims to have over 10 million merchants, with an average daily addition of more than 2,550 merchants in Q1 FY25. At the end, its other operating and financial income pushed Infibeam Avenues’ overall revenue to Rs 781 crore in Q1 FY25 from Rs 743 crore in Q4 FY24. On the cost front, the operating expenses (including payment processing cost) formed 90% of the overall expenditure. This cost remained flat at Rs 634 crore in Q1 FY25. The firm’s spending on employee benefits, legal, and other overheads took its overall cost up by 3.5% to Rs 703 crore in Q1 FY25 from Rs 679 crore in Q4 FY24. The increase in other income and consistent growth in scale helped Infibeam to register a 42.9% spike in its profits to Rs 70 crore in Q1 FY25 from Rs 49 crore in Q4 FY24. On a unit level, The Ahmedabad-based company spent Rs 0.93 to earn rupee in Q1 FY25. The company also acquired a majority stake (54%) in Rediff.com. The acquired company will become a subsidiary of Infibeam Avenue. “With this synergy, we are poised to unlock new dimensions of growth, redefining the essence of cloud and fintech engagement,” said Vishal Mehta, Chairman and MD of Infibeam Avenues. Infibeam Avenue is currently trading at Rs 32.42 (as of 03.00 PM) and its total market capitalization stood at Rs 9,019 crore or $1.1 billion.

Ixigo records 78% quarterly growth in PAT in Q1 FY25

EntrackrEntrackr · 11m ago
Ixigo records 78% quarterly growth in PAT in Q1 FY25
Medial

Online travel aggregator (OTA) Ixigo announced its financial results on Thursday for the first quarter of the financial year ending March 2025. The company’s revenue from operations went up 10.3% to Rs 181.88 crore during Q1 of FY25 as compared to Rs 164.85 crore in Q4 of FY24, according to the company’s unaudited consolidated quarterly report filed with the National Stock Exchange. Compared to the corresponding quarter of FY24 (Q1 FY24), Ixigo scaled up 16.18% from Rs 156.55 crore. The Gurugram-based company generated the majority (55.23%) of its operating revenue from train ticketing amounting to Rs 100.46 crore in Q1 FY25. Flight and bus booking services contributed 22.82% and 21.79% to the company’s coffers, respectively. Besides operating revenue, the firm also earned Rs 2.4 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 184.28 crore. Meanwhile, Ixigo’s gross transaction value (GTV) surpassed Rs 2,988 crore in Q1 FY25 with 27% year-on-year growth. On the expense front, Ixigo’s employee benefits costs comprised 22.60% of the total expenditure. This cost increased 9.68% to Rs 37.96 crore in Q1 of FY25 from Rs 34.61 crore in the previous quarter (Q4 of FY24). It is worth noting that the company did not disclose the breakup of other expenses incurred during the period. On the line of scale, the company’s total expenses went up 10.3% to Rs 168 crore in Q1 of FY25 in comparison to Rs 152.36 crore in Q4 FY24. In the end, Ixigo’s bottom line flourished over two-fold during the quarter to Rs 14.85 crore against Rs 7.35 crore in Q4 FY24. Compared to the corresponding quarter of FY24 (Q1 FY24), its profits surged 77.63% from Rs 8.36 crore. On a unit level, Ixigo spent Re 0.92 to earn a rupee of operating income during the quarter. After Thursday’s trading session, Ixigo’s share is trading at around Rs 170 per share with a market cap of Rs 6,586 crore or close to $800 million.

Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25

EntrackrEntrackr · 11m ago
Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25
Medial

Foodtech and quick commerce platform Zomato on Thursday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The Gurugram-based company has reported around an 18.1% increase in revenue with a 44.6% growth in profits. Zomato’s revenue from operations grew to Rs 4,206 crore in Q1 FY25 as compared to Rs 3,562 crore in Q4 FY24, its consolidated financial results sourced from the National Stock Exchange (NSE) show. Zomato’s food and delivery biz accounted for 46.17% of the total collection in Q1 FY25 which grew 11.7% to Rs 1,942 crore in Q1 FY25. The revenue from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 27.4% and 22.5% to Rs 1,212 crore and Rs 942 crore, respectively. Income from “going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 4,442 crore in Q1 FY25. Being a food tech major, the cost for delivery and related charges formed 31.6% of the overall expenditure which increased 18.8% to Rs 1,328 crore in Q1 FY25. The firm’s spending on procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs crore 4,203 in Q1FY25 from Rs 3,636 crore in Q4FY24. A stellar growth in scale allowed Zomato to record a 44.6% spike in its profits to Rs 253 crore in Q1 FY25 from Rs 175 crore in Q4 FY24. On a unit level, the company spent Rs 0.99 to earn a rupee in Q1 FY25. With the consistent gain in its market cap, the food tech firm also rewarded its employees with an additional ESOP plan of $458 million. Zomato’s initial public offering opened at Rs 115, a 51% increase from its price band of Rs 76. The company’s current share price is Rs 237.9 (as of 03.40 PM), with a total market capitalization of over $25 billion, which led to Deepinder Goyal becoming a billionaire last month.

CarTrade revenue and profit slip in Q1 FY25; shuts down used car retail biz

EntrackrEntrackr · 11m ago
CarTrade revenue and profit slip in Q1 FY25; shuts down used car retail biz
Medial

Automobile classifieds portal CarTrade Tech’s revenue from operations slipped 2.8% quarter on quarter in the opening quarter of FY25. At the same time, its profit took a hit of 8% due to rising employee costs. CarTrade Tech’s operating revenue decreased to Rs 141 crore in Q1 FY25, from Rs 145 crore in Q4 FY24, according to its disclosure with NSE. The Mumbai-based company operates in three segments: Consumer, Remarketing, and Classifieds. The income from these segments stood at Rs 50 crore, Rs 44 crore, and Rs 47 crore, respectively, during Q1 FY25. The firm collected Rs 15 crore from other income, which remained flat QoQ, bringing its total income to Rs 156 crore in Q1 FY25. CarTrade’s burn on employees accounted for 54% of the overall expense. This cost grew 6% to Rs 71 crore in Q1 FY25 from Rs 67 crore in Q4 FY24. Other expenses, including legal and advertising, took the firm’s overall costs to Rs 132 crore in the said quarter. The slight decline in revenue impacted its profit, reducing it by 8% to Rs 23 crore in Q1 FY25. Note: CarTrade acquired 100% of OLX India’s business for Rs 535 crore in August last year. Post acquisition, the company made a strategic decision to close its C2B operations, specifically in the used car retail segment. Meanwhile, the company emphasized that it will continue to focus and grow its classified business —Olx.in — which includes both auto and non-auto verticals, according to the filing with NSE. CarTrade was trading at Rs 861 and its total market capitalization stood at Rs 4,063 crore or $490 million (as of July 30 12 PM).

PB Fintech reports 7.5% dip in Q1 FY25 revenue; maintains profit

EntrackrEntrackr · 11m ago
PB Fintech reports 7.5% dip in Q1 FY25 revenue; maintains profit
Medial

Policybazaar and Paisabazaar’s parent, PB Fintech, reported a 7.3% decline in its revenue during the first quarter of the ongoing fiscal (FY25) year. The firm, however, managed to keep its grip on the profit numbers in the same period as compared to the previous quarter (Q4 FY24). PB Fintech’s revenue slipped to Rs 1,010 crore in Q1 FY25 as compared to Rs 1,090 crore during the quarter ended March 2024, as per the company’s disclosure with the National Stock Exchange (NSE). Insurance broking formed 83.6% of the collections which decreased 7.5% to Rs 845 crore during Q1 FY25. The income from other operating activities, which include marketing, advertising, consulting, and support services, plunged 5.7% to Rs 165 crore in the same period. The firm earned Rs 100 crore from non-operating activities including financial income, tallying its overall revenue to Rs 1,111 crore in Q1 FY24. For PB Fintech, employee benefits cost remained the largest cost center forming 42% of the overall expenditure. This cost saw a mere increase of 3.4% QoQ to Rs 455 crore in the past quarter (Q1 FY25). The company’s spending on finance, advertising-promotion, network, internet, and other overheads pushed its total expenditure to Rs 1,081 crore in Q1 FY25 from Rs 1,114 crore in Q4 FY24. Despite the decline in scale, PB Fintech has managed to maintain steady profits, which stood at Rs 60 crore in Q1 FY25. On a unit level, the Gurugram-based firm spent Rs 1.07 to earn a rupee in Q1 FY25. PB Fintech ended the day (August 6) with a share price of Rs 1,425 and its total market capitalization was Rs 64,984 crore, or $7.2 billion.

TBO reports Rs 418 Cr revenue and Rs 61 Cr profits in Q1 FY25

EntrackrEntrackr · 11m ago
TBO reports Rs 418 Cr revenue and Rs 61 Cr profits in Q1 FY25
Medial

Business focused travel distribution platform Travel Boutique Online (TBO) has announced its first quarterly results since going public. The Gurugram-based company saw an increase in both revenue and profit during the first quarter of the current fiscal year. TBO’s operating revenue increased by 13.4% to Rs 418.46 crore in Q1 FY25 from Rs 369 crore in Q4 FY24, its unaudited consolidated financial statements sourced from National Stock Exchange (NSE) show. Income from booking of hotels and packages accounted for 76.63% of TBO’s revenue which increased to Rs 227 crore in Q1 FY25. Meanwhile, income from air ticketing brought Rs 23 core to the firm’s topline. When it comes to cost, TBO’s total expense grew by 11.1% to Rs 358.4 crore in Q1 FY25 from Rs 322.62 crore in Q4 FY24. Services fee was the largest cost center which accounted for 38.7% of the total expense. This expenditure stood at Rs 139 crore in Q1 FY25. The company also spent Rs 82.16 crore on salaries and other employee benefit schemes. TBO growth in scale enabled the firm to post a 31.3% spike in profits to Rs 60.91 crore in Q1 FY 25 from Rs 46.39 crore in Q4 FY24. For context, the company posted Rs 200 crore profits during FY24. The company went public in May this year, raising Rs 400 crore through a fresh issue and offering up to 12,508,797 equity shares for sale. As of August 13, TBO Tek is trading at Rs 1,632, with a total market capitalization of Rs 17,721 crore (around $2.1 billion).

Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits

EntrackrEntrackr · 11m ago
Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits
Medial

Co-working solutions provider Awfis filed its first quarterly results after going IPO. The Delhi based company witnessed 10.9% revenue growth with the profits spiking 102.9% during the same period. Awfis’ revenue increased to Rs 258 crore in Q1 FY25 from Rs 232 crore in Q4 FY24, as per its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Income from renting of co-working space and allied services contributed 72% of the firm’s total operating revenue while construction and fit-out projects contributed 26% . On a sequential basis, its operating revenue increased by 37.31% from Rs 187.7 crore in Q1 FY24. Awfis’ total expense increased by 10.57% to Rs 265.08 crore in Q1 FY25 from Rs 239.79 crore in Q4 FY24. Subcontracting cost and purchase of traded goods accounted for 24% of the total expense. Employee benefit, depreciation and amortization and finance costs were some other major expenses for the 10-year-old company. The consistent growth in scale helped Awfis to double its profit which stood at Rs 2.78 crore in Q1 FY25 as compared to Rs 1.37 crore in Q4 FY24. For context, Awfis posted a loss of Rs 8.3 crore in Q1 FY24. Awfis is currently trading at Rs 669.7 (as at the end of August 13) with the market capitalization of Rs 4648 crore (approximately $560 million).

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