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MPL Parent M-League’s FY24 Revenue Jumps 22% To $128 Mn
Inc42
·
9m ago
Medial
M-League, the parent company of gaming unicorn Mobile Premier League (MPL), reported a 22% increase in operating revenue to $127.9 million in the fiscal year 2023-24. Despite the impact of a 28% GST on online gaming, the company's revenue in India grew by 35% to approximately $88 million. Furthermore, M-League achieved break-even with an adjusted EBITDA of $0.2 million, compared to an adjusted EBITDA loss of $44.7 million in the previous fiscal year.
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Mobile Premier League acquires Lumikai-backed CloudFeather
VCCircle
·
8m ago
Medial
Mobile Premier League (MPL) has acquired a significant stake in gaming technology company CloudFeather Games. This deal involves the exit of CloudFeather's existing investor, Lumikai. MPL plans to use CloudFeather's technology stack to enhance its own tech capabilities and improve gaming experiences for its users in India, the US, and Nigeria. MPL's parent company, M-League, reported a 22.2% increase in operating revenue and a 21% reduction in losses in FY24. Financial details of the transaction were not disclosed.
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MPL's parent M-League turns operating cash flow positive with Rs 157 Cr in FY24
Entrackr
·
9m ago
Medial
M-League, the company behind Mobile Premier League (MPL), achieved double-digit growth in the fiscal year ending March 2024, while surpassing Rs 1,000 crore ($127.9 million) in revenue. MPL's revenue from operations increased by 22.2% to Rs 1,068 crore ($127.9 million) in FY24 compared to the previous year. The majority of revenue came from online gaming, while advertising and other activities also contributed. India remained MPL's largest market, followed by Europe, the United States, and Nigeria. MPL raised $395 million in funding and had a valuation of around $2.3 billion as of September 2021.
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Perfios profit jumps multifold in FY24
YourStory
·
8m ago
Medial
B2B fintech SaaS company Perfios reported a significant surge in profit for FY24, reaching Rs 71.67 crore, compared to Rs 7.79 crore the previous year. The company experienced a 37.1% increase in revenue, totaling Rs 557.8 crore in FY24. Despite a 22% rise in expenses, Perfios maintained a strong profit margin, with a majority of revenue generated from the sale of services. The company plans to use recent funding to expand internationally and enhance its technology stack.
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Yubi Group Cuts FY24 Net Loss By 22%, Revenue Jumps 47%
Inc42
·
9m ago
Medial
Yubi, a debt platform connecting enterprises with lenders and investors, has reported a significant reduction in losses and an increase in operating revenue. The company's losses decreased by over 22% to INR 395.8 Cr in FY24 compared to INR 509.8 Cr the previous year. At the same time, its operating revenue surged by over 47% to INR 483.7 Cr in FY24 compared to INR 327.6 Cr the previous year. Yubi was founded in 2017 by Gaurav Kumar.
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RentoMojo FY24: Profit Jumps 3X To INR 22 Cr, Operating Revenue Inches Closer To INR 200 Cr
Inc42
·
9m ago
Medial
RentoMojo, an online furniture rental startup, experienced strong growth in FY24. Its operating revenue increased, reaching nearly INR 200 crore, driven by high customer demand and improved efficiency through automation. The company's profit after tax also saw a significant increase, surging more than three-fold to INR 22 crore compared to the previous year. RentoMojo's EBITDA grew 142% year-on-year to INR 66 crore, thanks to increased operational efficiency achieved through automation.
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Myntra turns in a profit in FY24, revenue jumps 15% to Rs 5,122 crore
Economic Times
·
8m ago
Medial
Myntra, the fashion platform owned by Flipkart, has achieved a net profit of Rs 31 crore in FY24, a significant improvement from the previous year's net loss of Rs 782 crore. The turnaround was driven by increased revenue and a reduction in overall expenses. Myntra has been successful in reducing the cost of returns by offering discounts and benefits, leading to improved profitability. The company has also focused on international and direct-to-consumer brands and is expanding into new segments like beauty and home décor. Myntra's quick commerce business, M-Now, has launched in Bengaluru and plans to expand to other cities in the near future.
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MPL acquires NFT marketplace Good Game Exchange
Entrackr
·
1y ago
Medial
E-sports and online gaming platform MPL has acquired the NFT marketplace Good Game Exchange's protocol, buying out existing investor tokens. MPL made its entry into the NFT trading space earlier this year with a 20% stake in GGX protocol. The acquisition comes at a time when the overall NFT space has experienced a decline in popularity. MPL is issuing Series E preference shares to existing GGX investors as part of the deal. GGX facilitates NFT trading and supports various games and developers on its platform. MPL recently faced a legal battle with Rario and underwent layoffs due to taxation challenges. Despite this, MPL saw significant revenue growth and reduced losses in the fiscal year.
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Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X
Entrackr
·
6m ago
Medial
Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X Info Edge, the parent company of Naukri and 99acres, released its unaudited financial results for Q3 FY25. According to the company’s update sourced from the National Stock Exchange (NSE), revenue from operations grew by 15.2% to Rs 722 crore in Q3 FY25 from Rs 627 crore in Q3 FY24. The company recorded Rs 2,100 crore in revenue during the first nine months of FY25, with profits reaching Rs 632 crore. Info Edge derives the majority of its revenue—73%—from Naukri.com, which contributed Rs 527 crore in Q3 FY25, marking a 12.3% year-on-year growth compared to Q3 FY24. Meanwhile, revenue from 99 acres reached Rs 104 crore, while the Jeevansathi and Shiksha segments collectively generated Rs 91 crore during the same quarter. The company added another Rs 187 crore from interest on deposits and investments, which pushed its overall revenue to Rs 9,094 crore in Q3 FY25, compared to Rs 660 crore in Q3 FY24. Info Edge spent 62.6% of its overall expenditure on employee benefits, which increased by a modest 9.7% year-on-year to Rs 305 crore in Q3 FY25. Its advertising and internet costs stood at Rs 82 crore and 20 crore, respectively. The company’s overall cost grew 7% YoY to Rs 487 crore in Q3 FY25 from Rs 455 crore in Q3 FY24. The steady growth and surge in other income with controlled expenditure led its profits to increase by 142% to Rs 288 crore in Q3 FY25, compared to Rs 119 crore in Q3 FY24. On a unit level, it spent Rs 0.67 to earn a rupee in Q3 FY25. As of 4:40 PM, Info Edge is trading at Rs 7,910, reflecting a Rs 203.1 increase following today's results. Its total market capitalization value improved to Rs 1,02,501 crore ($12.2 billion).
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PayU’s consolidated revenue stood at $497 Mn in H1 FY24: Prosus
Inc42
·
1y ago
Medial
PayU, a fintech major, witnessed a 21% year-on-year increase in revenue to $497 Mn in the first half of FY24. The company's trading loss decreased by 72.5% to $22 Mn during the same period. The growth was attributed to increased profitability in the global payments organizations and savings from new initiatives in PayU India. The Indian credit business also saw substantial growth with a 66% increase in the loan book and a 31% rise in revenue. PayU is exploring options for a public listing of its Indian entities.
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Info Edge posts Rs 750 Cr revenue in Q4 FY25; profit jumps 7.7X
Entrackr
·
2m ago
Medial
Info Edge, the parent company of Naukri and 99acres, reported a 14.2% growth in operating revenue in the fourth quarter of the last fiscal year (FY25), while its profit jumped 7.7X due to a decline in expenses. The Noida-based company’s operating revenue rose to Rs 750 crore in Q4 FY25 from Rs 657 crore in Q4 FY24, according to documents sourced from the National Stock Exchange (NSE). On a fiscal basis, the Sanjeev Bikhchandani-led firm recorded Rs 2,849 crore in revenue during FY25, a 12% increase from Rs 2,536 crore in FY24. Info Edge derives the majority of its revenue from Naukri.com, which contributed Rs 542 crore in the quarter ending March 2025, a 13% year-on-year growth compared to Q4 FY24. Meanwhile, revenue from 99acres reached Rs 106 crore, while the Jeevansathi and Shiksha segments collectively generated Rs 102 crore during the same quarter. The company added another Rs 520 crore from interest on deposits and investment which pushed its overall revenue to Rs 1,270 crore in Q4 FY25. On the fiscal basis, its total income stood at Rs 3,922 crore in FY25. On expense side, Info Edge spent 61% of its overall expenditure on employee benefits, which increased a modest 13% year-on-year to Rs 331 crore in Q4 FY25. Its advertising and internet costs stood at Rs 100 crore and 21 crore, respectively. The company’s overall cost grew 15% YoY to Rs 539 crore in Q4 FY25 from Rs 469 crore in Q4 FY24. Meanwhile on the fiscal basis, total cost rose 9% to Rs 2,002 crore in FY25. The steady growth and surge in other income with controlled expenditure led its profits to spike 7.7X to Rs 678 crore in Q4 FY25, compared to Rs 88 crore in Q4 FY24. On a fiscal basis, the firm’s profit doubled to Rs 1,310 crore in FY25 from Rs 594 crore in FY24. As of 2:43 PM, Info Edge is trading at Rs 1,456, down 1.19% from today’s opening price. The firm’s market capitalization stands at Rs 94,337 crore.
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