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Kapiva’s Loss Widens By 34% To INR 64.6 Cr In FY23 As Business Expands

Inc42 · 1y ago

Kapiva’s Loss Widens By 34% To INR 64.6 Cr In FY23 As Business Expands

Ayurvedic D2C brand Kapiva reported a 34% increase in losses to INR 64.6 Cr in FY23, despite a 94% rise in operating revenue. Purchases of stock-in-trade contributed to a majority of expenses, growing 55% YoY to INR 42.3 Cr. Employee costs rose by almost 46% to INR 32.8 Cr, while sales and marketing expenses totaled INR 64.3 Cr. The company attributed the increased loss to investments in team and marketing costs to support its growing business. Kapiva has raised $15.77 Mn in funding from investors including Vertex Ventures and Fireside Ventures.

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Yulu’s FY23 net loss widens 71% to INR 94.9 Cr as business expands

Inc42 · 1y ago

Yulu’s FY23 net loss widens 71% to INR 94.9 Cr as business expands

Emobility startup Yulu witnessed a 71% increase in consolidated net loss to INR 94.9 Cr in FY23 as expenses rose due to the expansion of battery swapping infrastructure and increasing headcount. Despite a 44% YoY increase in operating revenue to INR 41.7 Cr, the company's bottom line was impacted. Yulu generates most of its revenue from renting EVs to daily commuters and last-mile delivery executives, with this segment seeing a 31% YoY growth to INR 38 Cr. The startup also saw a significant increase in expenses, with total expenditure reaching INR 140.1 Cr, a 60.5% increase from the previous year.

Amazon India Marketplace’s loss widens 33% to INR 4,854 Cr in FY23

Inc42 · 1y ago

Amazon India Marketplace’s loss widens 33% to INR 4,854 Cr in FY23

Amazon Seller Services, the marketplace business of Amazon India, reported a 33% increase in standalone net loss for FY23, widening to INR 4,854.1 Crore from INR 3,649.2 Crore in the previous year. Operating revenue, however, only saw a marginal growth of 3.4% to INR 22,198 Crore. The company's total expenses increased by 7.9% to INR 27,283.6 Crore, with delivery charges comprising over 25% of the expenses. The marketplace faces competition from Flipkart, Tata, Reliance, Meesho, and Nykaa in the Indian ecommerce market.

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Inc42 · 1y ago

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Cashfree Payments, a fintech platform, reported a significant increase in net loss, widening it by 46X to INR 133.1 Cr in FY23 compared to INR 2.9 Cr in the previous year. Despite a YoY rise in operating revenue and commission income, the net loss surged due to a sharp jump in employee costs. Cashfree spent a substantial amount on payment gateway processing charges, employee benefits, advertising, and promotional expenses. The startup aims to expand its offerings and has received approvals from the Reserve Bank of India (RBI) for cross-border payments and to operate as a payment aggregator.

Rapido’s FY23 loss widens over 50% to INR 674.5 Cr, sales jump 3X

Startup News FYI

Startup News FYI · 1y ago

Rapido’s FY23 loss widens over 50% to INR 674.5 Cr, sales jump 3X

Ride-hailing startup Rapido reported a widened standalone loss of INR 674.5 Cr in FY23, a 53.6% increase from the previous fiscal year. The increased loss was primarily due to a sharp jump in employee costs and despite a significant rise in operating revenue. The company's total expenditure also increased by 96.3%, with employee expenses accounting for 17% and advertising expenses contributing 20.5% of the total expenses. Rapido, which provides auto and bike taxi services, raised $180 Mn in funding in FY23 and expanded its operations into cab services.

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Inc42 · 1y ago

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Ola Financial Services recorded a net loss of INR 54.6 Cr in FY23, compared to a profit of INR 8.6 Cr in FY22. Ola's parent company, ANI Technologies, reduced its consolidated net loss by 49.2% to INR 772.2 Cr in FY23. Ola's sales increased by 63% to INR 1,987.5 Cr, while its net loss decreased by 64.8% to INR 1,082.5 Cr in FY23. Ola's rival, Uber India, saw its net sales rise by 54% to INR 2,666.1 Cr in FY23, with a loss of INR 311.3 Cr. Ola Electric is also planning an IPO to raise funds.

Purplle’s FY23 sales inch closer to INR 500 Cr mark, loss widens to INR 230 Cr

Inc42 · 1y ago

Purplle’s FY23 sales inch closer to INR 500 Cr mark, loss widens to INR 230 Cr

Beauty ecommerce marketplace Purplle saw a significant increase in its operating revenue, reaching INR 474.9 crore in FY23, up by 116% from FY22. However, the startup's net loss also grew by 13% to INR 230 crore during the same period. The company's EBITDA margin improved to -41.56% from -84.9% in the previous fiscal year. Purplle earns revenue through product sales, advertising, and other sources, with revenue from the sale of its products accounting for 51% of its operating revenue.

Leverage Edu’s FY23 Loss Widens 118% To INR 102.8 Cr, Sales Surge 3.3X

Inc42 · 1y ago

Leverage Edu’s FY23 Loss Widens 118% To INR 102.8 Cr, Sales Surge 3.3X

Study abroad platform, Leverage Edu, experienced a significant rise in expenses, causing its loss to widen by 118% in FY23. The startup's operating revenue, however, saw a 3.3x increase, reaching INR 68.9 Cr. Leverage Edu's strategic focus for 2022 was on long-term investments, including improving content, community, and acquisition products. The company also reported substantial brand growth and increased investments in marketing and team expansion. Its total expenses rose by 153% to INR 173.5 Cr, primarily driven by other expenses and advertising costs.

D2C brand mCaffeine’s loss widens 61% to INR 92 Cr in FY23, sales at INR 205 Cr

Inc42 · 1y ago

mCaffeine, a direct-to-consumer (D2C) beauty and personal care brand, reported a 61.5% increase in its standalone net loss for FY23, reaching INR 91.6 crore. The higher losses were attributed to increased employee costs and advertising expenses. However, the company's sales revenue grew by 51.8% to INR 205.2 crore during the same period. mCaffeine, known for its caffeine-infused skincare products, raised $31 million in Series C funding earlier in the year to fuel its R&D and expand its distribution network.

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Inc42 · 9m ago

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Indian startup OPEN, backed by Temasek, saw a 30% decrease in net loss for FY24, down to INR 170 Cr. The total expenditure also dropped 34% to INR 194.6 Cr. However, OPEN spent INR 7.84 for every rupee earned from operations in FY24.

Proptech Unicorn NoBroker’s FY23 Loss Crosses INR 500 Cr Mark

Inc42 · 1y ago

Proptech Unicorn NoBroker’s FY23 Loss Crosses INR 500 Cr Mark

The net loss of proptech startup NoBroker increased by 64% to INR 506.2 Cr in FY23 compared to INR 309.1 Cr in the previous fiscal year. However, the company's operating revenue soared by 87% to INR 609 Cr in FY23 from INR 325.8 Cr in the previous year. NoBroker's total expenditure in FY23 rose by 75% to INR 1,189.7 Cr, as indicated by its financial statements filed approximately 15 months after the fiscal year-end.

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