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Livestreaming income, higher ad revenue boost ShareChat's FY24 topline

VCCircle

VCCircle · 8m ago

Livestreaming income, higher ad revenue boost ShareChat's FY24 topline

Indian social media company, ShareChat, reported a 33% YoY increase in consolidated revenue for FY24, reaching INR 718 crore ($97 million). This growth came from a rise in income from livestreaming, which experienced a 41% YoY increase to INR 402 crore ($54 million). The company also saw a 23% YoY growth in advertising revenue, reaching INR 315 crore ($42.5 million). ShareChat's adjusted EBITDA loss narrowed by 67% in FY24, and the company expects to achieve full profitability by the end of FY25. ShareChat claims to have over 325 million monthly active users across its platforms.

Related News

Exclusive: ShareChat Launches Social Media App ‘Vibely’ With Private Calling Feature

Inc42 · 10m ago

Exclusive: ShareChat Launches Social Media App ‘Vibely’ With Private Calling Feature

- Mohalla Tech launches social media app 'Vibely' to expand user base - Vibely app aims to help Mohalla Tech generate more revenue - ShareChat's financial statements for FY24 are yet to be filed - ShareChat expected to report revenue of INR 700 Cr for FY24 - ShareChat's revenue increased from INR 540 Cr in FY23 to INR 700 Cr in FY24 (expected)

PS IT Infrastructure & Services Q3 FY24 Results Live: Loss Rises by 47.2% YoY

Livemint

Livemint · 1y ago

PS IT Infrastructure & Services Q3 FY24 Results Live: Loss Rises by 47.2% YoY

PS IT Infrastructure & Services reported their Q3 FY24 results, with a 0% decrease in the topline and a 47.2% increase in losses YoY. Compared to the previous quarter, revenue declined by 100% and losses decreased by 99.82%. Selling, general & administrative expenses decreased by 97.29% QoQ and 1.08% YoY, while operating income increased by 99.82% QoQ and decreased by 8.28% YoY. The EPS for Q3 FY24 was ₹-0.01, a decrease of 50% YoY.

Sharechat says adjusted EBITDA losses fell sharply in FY24 to Rs 793 crore

Economic Times

Economic Times · 8m ago

Sharechat says adjusted EBITDA losses fell sharply in FY24 to Rs 793 crore

Indian social media company Sharechat reported a 67% decrease in adjusted EBITDA losses to Rs 793 crore in FY24, along with a 33% increase in revenue. The company aims to achieve cash breakeven by March 2025 and plans to invest in growth and explore acquisition opportunities. Sharechat's revenue grew to Rs 718 crore in FY24 from Rs 540 crore in FY23, while adjusted EBITDA losses reduced from Rs 2,400 crore to Rs 793 crore. Sharechat is looking to add more investors ahead of a potential IPO in 18-24 months.

Paper Boat curbs annual loss by 48%; revenue rises 16%

YourStory

YourStory · 9m ago

Paper Boat curbs annual loss by 48%; revenue rises 16%

Paper Boat Foods, owned by Hector Beverages, has reduced its loss for FY24 by 48% to Rs 47.14 crore compared to the previous year. The company saw an increase in operating revenue and other income, with operating revenue reaching Rs 584.85 crore, a 16% rise from the previous year. Other income more than doubled to Rs 10.33 crore. Revenue from traded goods, particularly fruit juices, also increased by 16.23% to Rs 304.32 crore. Despite higher expenses, especially in purchase of stock-in-trade and employee benefits, finance costs decreased by 54% to Rs 2.75 crore.

Lendingkart's profit plummets in FY24 on the back of soaring expenses

YourStory

YourStory · 9m ago

Lendingkart's profit plummets in FY24 on the back of soaring expenses

Lendingkart Technologies, a fintech firm, saw its revenue rise by 36.59% in FY24 to reach Rs 1,090.63 crore. However, profit dropped 97% to Rs 3.25 crore due to a significant increase in expenses. Other income more than doubled, driven by a surge in commission income from insurance and interest income on bank deposits. Total expenses rose by 58.92%, mainly due to higher operational costs. The company recently announced that Fullerton Financial Holdings has acquired a controlling stake in Lendingkart for Rs 252 crore.

Fintech SaaS startup sees 819.2% profit surge to ₹71.7 crore

Inshorts · 8m ago

Fintech SaaS startup sees 819.2% profit surge to ₹71.7 crore

Fintech SaaS startup posted a 819.2% year-on-year jump in its consolidated net profit at ₹71.7 crore in the financial year 2023-24 (FY24) on the back of a healthy growth in its topline and higher margins. As Inc42 reported earlier, the company turned profitable in FY23, logging a consolidated net profit of ₹7.8 crore.

Sharechat parent firm Mohalla loss narrows to Rs 1,897.63 in FY24

Economic Times

Economic Times · 7m ago

Sharechat parent firm Mohalla loss narrows to Rs 1,897.63 in FY24

Homegrown social media platform ShareChat's parent company, Mohalla Tech, reduced its consolidated loss to Rs 1,897.63 crore in FY2024, down from Rs 5,143.42 crore the previous year, as reported by Tofler. Total income rose by 4% to Rs 747.08 crore. Standalone revenue grew by 33% to Rs 718.1 crore, while expenses decreased by 46% to Rs 2,511.69 crore, resulting in standalone losses narrowing to Rs 1,763.65 crore from Rs 4,064.31 crore.

IM Capitals Q3 FY24 Results Live : profit rise by 2227.97% YOY

Livemint

Livemint · 1y ago

IM Capitals Q3 FY24 Results Live : profit rise by 2227.97% YOY

IM Capitals reported impressive Q3 FY24 results, with a 653.75% YoY increase in revenue and a staggering 2227.97% YoY growth in profit. Although revenue dipped slightly by 5.09% from the previous quarter, the company managed to boost its profit by 5.77%. Operating income also showed strong growth, with a 292.06% QoQ increase and a 1593.66% YoY increase. The Earnings Per Share (EPS) for Q3 FY24 stood at ₹46.94, marking a notable growth of 792.4% YoY. IM Capitals' market performance has been positive, with returns of 17.13% over the past 6 months.

GIVA grabs Rs 450 Cr funding from Creaegis Investment, existing investors

YourStory

YourStory · 1m ago

GIVA grabs Rs 450 Cr funding from Creaegis Investment, existing investors

Jewellery brand GIVA raised Rs 450 crore in Series C funding led by Creaegis Investment and existing backers, including Premji Invest and Epiq Capital, reaching a valuation of Rs 3,950 crore. The funds aim to boost GIVA's retail expansion and lab-grown diamond sales. Despite a 66% rise in FY24 revenue, losses increased by 30% due to higher metal procurement costs. GIVA forecasts Rs 809 crore revenue with a PBT of Rs 10 crore for FY26.

Coliving startup Isthara’s FY23 loss surges 54% to INR 30.5 Cr

Inc42 · 1y ago

Coliving startup Isthara’s FY23 loss surges 54% to INR 30.5 Cr

Coliving startup Isthara reported a 54% increase in net loss to INR 30.5 Cr in FY23 due to higher cash burn. However, its operating revenue surged by 161% to INR 67.5 Cr during the same period. The company aims to double the turnover of its food court segment in FY24 to boost revenue. Isthara offers coliving spaces and cafeteria services, managing over 24K beds across India. It earned the highest revenue from student housing and catering services in FY23. The total expenditure of Isthara increased by 119% to INR 100.2 Cr in FY23.

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