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PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable

EntrackrEntrackr · 4m ago
PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable
Medial

Fintrackr All Stories PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable Cashback and coupons app PaisaWapas has managed steady growth as its revenue from operations grew 24% year-on-year for the fiscal year ending March 2024. Moreover, the Bengaluru-based company also increased its profit by around 17% during the same period. PaisaWapas’ revenue from operations grew by 24% to Rs 68.7 crore in FY24 from Rs 55.5 crore in FY23, its financial statements sourced from the Registrar of Companies (RoC) show. PaisaWapas operates as a cashback and deals platform, linking shoppers with e-commerce partners. It generates revenue through affiliate commissions, sharing a portion as cashback with users, and also earns from promotions and s. Revenue from these services surged 25.8% to Rs 66.7 crore in FY24, contributing 97% of the operating revenue in FY24. However, revenue from the sale of goods increased marginally by 35.4% to Rs 1.53 crore. The company also generated Rs 30 lakh from other income sources, pushing its total income to Rs 69 crore in the last fiscal year. Cashback to users remained the largest expense category, decreasing 14.6% to Rs 19.5 crore. Meanwhile, payouts to users increased 2.2X to Rs 15.5 crore. Advertising costs rose 95.1% to Rs 16 crore, indicating a focus on customer acquisition and engagement. Employee benefit expenses grew 41.1% to Rs 5.22 crore. Overall, total expenses increased 25% to Rs 64.4 crore, up from Rs 51.5 crore in FY23. PaisaWapas increased its profit by 16.7% to Rs 3.5 crore from Rs 3 crore in FY23. The firm recorded an EBITDA of Rs 4.86 crore, with an EBITDA margin of 7.04% and a Return on Capital Employed (ROCE) of 41.5%. The Bengaluru-based platform reported current assets of Rs 22 crore as of March 2024, while cash and bank balances rose 75% to Rs 7 crore. According to TheKredible, PaisaWapas has raised a total of $46K in funding to date. Vividhity Ventures is the lead investor, holding 2% of the company’s stake. Meanwhile, PaisaWapas’ founders, Shankar Singh and Ashish Kumar, collectively own 94% of the company. PaisaWapas competes against the companies such as CashKaro, CouponDunia, GoPaisa and GrabOn, among several others.

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Rare Rabbit nears Rs 650 Cr revenue in FY24, profit surges 2.3X

EntrackrEntrackr · 4m ago
Rare Rabbit nears Rs 650 Cr revenue in FY24, profit surges 2.3X
Medial

Rare Rabbit nears Rs 650 Cr revenue in FY24, profit surges 2.3X Premium fashion brand Rare Rabbit has been growing rapidly in recent years, with its revenue increasing by over 69% during the fiscal year ending March 2024. At the same time, the firm’s profit surged 2.3 times, touching Rs 70 crore during the same period (FY24). Rare Rabbit’s revenue from operations increased to Rs 637 crore in FY24 from Rs 376 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Rare Rabbit is a men's fashion brand operated by The House of Rare. Founded in 2015, the brand offers a range of clothing including shirts, polos, T-shirts, trousers, and jackets. Product sales were the company’s primary source of revenue. The company earned Rs 5 crore from interest income, bringing its total income to Rs 642 crore in FY24. On the expense front, the major cost, material expenses increased by 53% to Rs 208.4 crore. Employee benefit expenses surged by 95% to Rs 78 crore while expense increased by 45% to Rs 93 crore. Rent and commission expenses also increased by 62% and 58%, respectively. Overall, Rare Rabbit’s total expenses grew by 59.9% to Rs 542 crore in FY24, up from Rs 339 crore in FY23. Since Rare Rabbit’s revenue growth outpaced its expenses, the company’s profit surged 2.3 times to Rs 75 crore in FY24 from Rs 32 crore in FY23. The EBITDA margin improved to 19% from 14.7%, while the return on capital employed (ROCE) increased to 52.15% in FY24 from 42.02% in the previous fiscal year. On a unit level, Rare Rabbit spent Rs 0.85 to earn a rupee in the last fiscal year. As of March 2024, the company held Rs 2 crore in cash and bank balances, with current assets totaling Rs 349.5 crore. According to TheKredible, Rare Rabbit has raised a total of approx $24 million of funding to date, which includes the recent Rs 50 crore funding round from its existing lead investor A91 Partners. Rare Rabbit’s success and presence have practically crept up if you have been an ordinary industry watcher. The men's focused brand (their women's offering is called Rare is, and a children's planned offering will be Rare Ones) has gone about its work slowly but surely, not offering the permanent discounts that have been a feature of many others. The premium positioning seems to have worked eventually, placing the brand in a very strong position a decade after it launched. So will the House of Rare stay independent? We are betting it will, at least until after FY25 numbers, which could take the brand beyond the 1000 crore milestone. At that level, assuming it remains profitable, a unicorn valuation will be just one of the perks of staying rare.

Celebal Tech nears Rs 300 Cr revenue in FY24, but bleeds heavily

EntrackrEntrackr · 3m ago
Celebal Tech nears Rs 300 Cr revenue in FY24, but bleeds heavily
Medial

Celebal Technologies, an IT services provider, crossed the Rs 270 crore revenue mark with a 43% year-on-year growth in the fiscal year ending March 2024. However, losses for the Norwest Ventures-backed firm surged to Rs 60 crore during the same period. Celebal Technologies’s revenue from operations increased to Rs 275 crore in FY24 from Rs 192 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Co-founded in 2016 by Anupam Gupta and Anirudh Kala, Celebal Technologies specializes in data science, AI, and enterprise cloud solutions. Technology consulting remains the sole revenue driver for the Jaipur-headquartered firm. It also earned Rs 6 crore from interest and the sale of current investments, bringing its total revenue to Rs 281 crore in FY24. With a presence in the USA, APAC, UAE, Europe, and Canada, the company generated Rs 122 crore from international markets. Like other SaaS firms, employee benefits were the largest cost center for the company, accounting for 71% of total expenses. This expense surged 87% to Rs 245 crore in FY24 from Rs 131 crore in FY23. Notably, the firm has a dedicated workforce of over 2,000 professionals. Technical services, rent, travel, advertising, and legal expenses were among the key overheads that pushed Celebal Technologies’ total expenditure up by 73%—from Rs 199 crore in FY23 to Rs 344 crore in FY24. An 87% rise in employee benefits—primarily salaries and wages—outpaced revenue growth, pushing Celebal Technologies’ losses to Rs 60 crore in FY24 from Rs 1 crore in FY23. At a unit level, the company spent Rs 1.25 to earn a rupee, while its ROCE and EBITDA margins declined to -39.1% and -19.2%, respectively. By the end of FY24, its total current assets stood at Rs 139 crore, with cash and bank balances of Rs 18 crore. Celebal Technologies secured its first institutional funding of $32 million in 2022, led by Norwest Venture Partners. The company later raised debt from BlackSoil. According to startup data intelligence platform TheKredible, Norwest holds the largest external stake at 19.58%, while the two co-founders collectively own over 70% of the company’s capital.

Just Dogs nears Rs 100 Cr revenue in FY24, losses balloon

EntrackrEntrackr · 3m ago
Just Dogs nears Rs 100 Cr revenue in FY24, losses balloon
Medial

Just Dogs, a retail and services brand specializing in pet care, reported a 30% year-on-year increase in revenue for the fiscal year ending March 2024. However, the Ahmedabad-based company also saw a significant rise in losses during the same period as it pushed for growth. Just Dogs’ revenue from operations increased by 32% to Rs 94 crore in FY24 from Rs 71 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2011, Just Dogs offers dog food, supplements, accessories, and other pet products through its platform. The startup is developing a full-stack online experience for pet parents, along with expanding its network of offline stores. Just Dogs generates its revenue from a mix of product and service categories. Revenue from pet food remained its dominant stream, accounting for over 70% of the topline and rising 47% to Rs 66 crore in FY24. Income from pet treats and grooming products grew to Rs 10 crore and Rs 2 crore, respectively. However, revenue from services declined to Rs 16 crore from Rs 17.5 crore in FY23. On the cost front, the company’s largest expense — material costs — rose 37% to Rs 67 crore, making up nearly two-thirds of the total expenses. Employee benefit expenses surged by 62.5% to Rs 13 crore, while marketing and rent each doubled to Rs 6 crore and Rs 10 crore, respectively. Other operational overheads amounted to Rs 10 crore in FY24. Overall, the company’s expenses outpaced its revenue growth, rising 47% to Rs 106 crore in FY24 from Rs 72 crore in FY23. Despite the topline growth, the company slipped deeper into the red with losses ballooning to Rs 11 crore in FY24 — a sharp surge from a marginal loss of Rs 6 lakh in FY23. Its ROCE and EBITDA margin stood at -25.12% and -10.21% respectively. At the unit level, Just Dogs spent Rs 1.13 to earn a rupee of operating revenue in FY24, compared to Rs 1.01 in FY23. The Ahmedabad-based startup recorded current assets worth Rs 43 crore in FY24, which includes Rs 8 crore in cash and bank balances. Just Dogs has raised a total of $7 million in funding to date, having Sixth Sense Ventures as its lead investor, which holds a 23% stake in the company. Meanwhile, Co-founders Ashish Anthony and Poorvi Anthony jointly hold a 77% stake in the company, leaving ample room for future fundraising opportunities. It competes with Peak XV-backed Heads Up for Tails, Supertails, which raised $15 million in a round led by RPSG Capital — Wiggles, and several other players in the pet care space.

Exclusive: OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr

EntrackrEntrackr · 1y ago
Exclusive: OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr
Medial

Following a 2X jump in scale during FY23, industrial goods and services procurement platform OfBusiness continued its growth run as its revenue grew by 25.8% in the fiscal year ending March 2024. At the same time, the firm’s profit spiked by 30% and crossed the Rs 600 crore mark. OfBusiness’ revenue grew to Rs 19,296 crore in FY24 from 15,343 crore in FY23, according to the company’s consolidated financial documents reviewed by Entrackr. The sale of industrial goods (raw materials) and revenue from financial services offered to the buyers on their platforms were the primary sources of operating revenue for OfBusiness in FY24. The company also made Rs 232 crore from interest and other financial activities, tallying the overall revenue to Rs 19,529 crore in FY24. Being a goods and service procurement platform, the purchase of industrial goods and raw materials including construction materials, chemicals, and produce emerged as the largest cost centers, forming 88.5% of OfBusiness’ total expenses during FY24. In the line of scale, this cost increased by 21% to Rs 16,543 crore in FY24. The firm’s burn on employee benefits, finance, legal, conveyance, advertising, and other overheads took its overall cost up by 24.3% to Rs 18,696 crore in FY24 from Rs 15,037 crore in FY23. Note: OfBusiness’ ESOP-related expenses for this year stood at Rs 32 Cr in FY24 which is similar to last year. The decent growth in scale and controlled expenditure helped OfBusiness to post a 30.2% increase in its profits to Rs 603 crore in FY24. Its ROCE and EBITDA margin improved to 12.33% and 7.44% respectively. On a unit level, OfBusiness spent Rs 0.97 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 6.30% 7.44% Expense/₹ of Op Revenue ₹0.98 ₹0.97 ROCE 9.28 12.23 OfBusiness has raised around $800 million including its $325 million Series G round in December 2021 where it was valued at $5 billion. According to the startup data intelligence platform TheKredible, Alpha Wave is the largest external stakeholder with 19.16% followed by Creation Investment and Matrix Partners. OfBusiness competes with Zetwerk, Infra.market, and Moglix. Zetwerk recorded Rs 11,449 crore GMV in FY23 while Infra. Market and Moglix’s gross revenue stood at 11,846 crore and Rs 4,500 crore respectively in the same period (FY23).

Awfis nears Rs 900 Cr income in FY24; losses contract 62%

EntrackrEntrackr · 1y ago
Awfis nears Rs 900 Cr income in FY24; losses contract 62%
Medial

Co-working solutions provider Awfis showcased a 55.8% growth in scale during the fiscal year ending March 2024. However, the losses for the Amit Ramani-led firm contracted 61.8% to Rs 17.8 crore in FY24. On a year-on-year basis, Awfis’ revenue from operations grew 55.8% to Rs 849 crore in FY24 from Rs 545 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. On a sequential basis, the firm posted a 5% increase in revenue to Rs 232 crore in Q4 FY24 from Rs 221 crore in Q3 FY24. Founded in 2015, Awfis offers customized office spaces for startups, SMEs, and large corporations including ancillary services like food and beverages, IT support, and infrastructure services among others. Income from co-working space rental and allied services formed 73% of the total operating revenue which spiked 47.7% to Rs 619 crore in FY24 from Rs 419 crore in FY23. Income from construction and fit-out projects, facility management, and sale of food items were other revenue drivers for Awfis in the fiscal year ending March 2024. See TheKredible for the complete revenue breakup. Awfis’s burn on subcontract stood at Rs 171 crore in FY24 while its employee benefits saw an increment of 41.7% to Rs 136 crore in FY24. Its finance, legal, depreciation and amortization, purchase of traded goods, and other overheads took the overall expenditure up by 45.8% to Rs 892 crore in FY24 from Rs 612 crore in FY23. Head to TheKredible for the detailed expense breakdown. The 55.8% surge in scale and controlled cost mechanism helped Awfis to contract its losses by 61.8% to a marginal Rs 17.8 in FY24 from Rs 46.6 crore in FY23. On a unit level, it spent Rs 1.05 to earn a rupee in FY24. The company’s stock was listed on NSE on May 30 and opened at Rs 435 with a 13.58% premium over the issue price of Rs 383. The improvement in the fundamentals pushed its share price to Rs 500.1 (as of June 19). Awfis currently holds a total market capitalization of Rs 3,472 crore.

BookMyShow profit nears Rs 110 Cr in FY24, event biz bleeds

EntrackrEntrackr · 7m ago
BookMyShow profit nears Rs 110 Cr in FY24, event biz bleeds
Medial

Online ticketing platform BookMyShow has experienced a remarkable turnaround over the past two years (FY23 and FY24), with its revenue soaring more than 5X and achieving profitability. Its revenue spiked to nearly Rs 1,400 crore in FY24, from only Rs 277 crore in FY22. BookMyShow reported a 43.2% year-on-year growth to Rs 1,396.86 crore in revenue from operations during the fiscal year ending March 2024 as compared to Rs 975.51 crore in FY23, its consolidated financial statement with the Registrar of Companies shows. BookMyShow, an online ticketing platform for movies and events, operates with 17 subsidiaries and two joint ventures. Here's a breakdown of its revenue growth across different streams. BookMyShow generates revenue primarily through online ticket bookings, turnkey ticketing solutions for concerts and events, and software sales. It also earns from advertisement space and from subscription contracts. Additional income sources include food and beverage sales, maintenance contracts, and on-ground services. The company collected 57.4% of its revenue from online ticketing (ticket bookings and turnkey solutions) which grew 23.8% year-on-year to Rs 801.57 crore in FY24. Around 32% of the revenue came from live events, worth Rs 454.72 crore which surged 91.5% during the year. The remaining sum of Rs 140.57 crore was collected via advertisement, marketing, sale of food & beverages, gift vouchers, and software, et al. The company also earned Rs 33.28 crore from interest and gains on financial assets, taking the overall revenue to Rs 1,430.14 crore in FY24. Out of the convenience fee, a certain portion of the revenue is shared with the cinema owners. BookMyShow paid a revenue share worth Rs 323.03 crore during FY24, accounting for 43.6% of the online ticket booking revenue. The firm spent Rs 233.49 crore on production which spiked 95% YoY in FY24, while the fees paid to artists soared 103.3% to Rs 211.32 crore in the same period. Employee benefit expenses went up 24% to Rs 170.72 crore during the year. Further, advertisement & promotions, and payment gateway charges stood at Rs 78.97 crore and Rs 49.57 crore, respectively. The overall expenditure of BookMyShow inclined 40.3% to Rs 1,319.88 crore in FY24 from Rs 940.86 crore during the previous fiscal year. Segment-wise, BookMyShow made profits of Rs 258.65 crore via online ticketing and Rs 84.13 crore through advertisement, marketing, sale of food & beverages, gift vouchers, and software et al. However, the live events vertical bled with a loss of Rs 137.99 crore during FY24. In the end, BookMyShow’s profits grew 27.6% to Rs 108.63 crore during FY24, against Rs 85.11 crore made in the last fiscal year (FY23). On the back of heavy cash burn on opex (operational expenses), its operating cashflows slipped 85.3% to Rs 33.54 crore during the period. Moreover, the outstanding losses of the firm stood at Rs 751.42 crore. The EBITDA margin and ROCE of the company registered at 11.07% and 15.25%, respectively. On a unit level, BookMyShow spent Re 0.94 to earn a rupee of operating revenue in the last fiscal year. At the end of FY24, the company had Rs 306.72 crore in cash and bank balances while its overall current assets were worth Rs 1,209.84 crore with a current ratio of 138%. As per TheKredible, BookMyShow has raised Rs 1,490 crore to date from the likes of TPG Growth, Elevation Capital, and Accel. Network 18 is the major stakeholder in the company having control of around 39% stake. Its valuation as per its Series D funding stood at nearly Rs 5,700 crore. Foodtech giant Zomato, which acquired Paytm’s movies and ticketing business, competes with BookMyShow.

Metalbook nears Rs 800 Cr gross revenue in FY24

EntrackrEntrackr · 5m ago
Metalbook nears Rs 800 Cr gross revenue in FY24
Medial

Full-stack metal supply-chain platform Metalbook recorded nearly Rs 800 crore of gross revenue for the fiscal year ended March 2024. However, its losses surged over two-fold in the same period. Metalbook’s gross revenue, known as gross merchandise value (GMV), surged 76% to Rs 796 crore in FY24 from Rs 452 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2021, Metalbook is a full-stack procurement platform that helps businesses, including SMEs, with inventory liquidation, logistics, and credit, among others. It claims to work with over 500 manufacturers, dealers, and suppliers, including ArcelorMittal Nippon Steel, Tata Steel, and JSW, across 16 countries. These services were the only source of revenue for the Gurugram-based company in FY24. The firm also made an additional Rs 2.5 crore from interest on deposits and investments, which pushed its total income to Rs 799 crore in FY24. For the supply chain platform, the cost of procurement of materials was the company’s largest cost center, accounting for 96% of the overall expenditure. This cost surged by 75.34% to Rs 782 crore in FY24. Employee benefit expenses jumped 90.48% to Rs 16 crore. Provisions for bad debts stood at Rs 3.7 crore, while other expenses—including legal, technology, and travel—contributed Rs 14.3 crore. These factors drove total expenses up by 77.78% to Rs 816 crore in FY24. Despite the 76% growth in scale, Metalbook’s loss spiked by 2.8 times to Rs 17 crore in FY24 from Rs 6 crore in FY23. Its return on capital employed (ROCE) and EBITDA margin stood at -9.65% and -1.27% respectively. On a unit basis, the company spent Rs 1.03 to earn a rupee of gross revenue in FY24. The Delhi-based company’s current assets stood at Rs 193 crore, which includes Rs 61 crore of cash and bank balance in the previous fiscal year. According to TheKredible, Metalbook has raised $23 million of funding to date. Axilor, Foundamental, and RTP Global are the major investors who hold 13.55%, 8.23%, and 5.81% of the company respectively.

DCGpac hits profitability as revenue nears Rs 100 Cr in FY24

EntrackrEntrackr · 9m ago
DCGpac hits profitability as revenue nears Rs 100 Cr in FY24
Medial

B2B packaging solutions platform DCGpac has been expanding steadily, reaching nearly Rs 100 crore in revenue for the fiscal year ending March 2024. Moreover, the Gurugram-based company, which raised only Rs 20 crore, achieved profitability during this period. DCGpac’s revenue from operations grew by 21.4%, reaching Rs 96.5 crore in FY24, up from Rs 79.5 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. DCGpac is a packaging materials supplier offering a range of products and services, including corrugated boxes, courier bags, bubble films, designer boxes, and “Design to Distribution” solutions. Sales of packaging materials represent the sole source of revenue for DCGpac. According to the company’s website, it serves over 50,000 customers, including Blinkit, Shiprocket, Delhivery, Myntra, DHL, Shadowfax, and others. As with other packaging solutions platforms, the cost of materials accounted for 83.17% of DCGpac’s total expenditure, rising by 19% to Rs 80.4 crore in FY24. Employee benefits expenses stood at Rs 8 crore for the last fiscal year. Additional costs, including advertising, warehousing, packing, information technology, printing, and other operating overheads, brought total expenditure up by 17.9% to Rs 96.7 crore in FY24, compared to Rs 82 crore in FY23. Steady growth and careful cost management helped DCGpac achieve profitability in FY24, posting net profits of Rs 19 lakh compared to a loss of Rs 1.67 crore in FY23. DCGpac’s ROCE and EBITDA margin stood at 3.34% and 1.19%, respectively. On a unit level, the company spent Re 1 to earn a rupee of operating revenue in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -1.98% 1.19% Expense/₹ of Op Revenue ₹1.03 ₹1 ROCE -15.66% 3.34% DCGpac has raised a total of Rs 20 crore to date, including a pre-Series Seed round of $1.5 million led by Venture Catalysts, 9Unicorns, and Inflection Point Ventures in April 2022.

IntrCity crosses Rs 320 Cr income in FY24, nears break-even

EntrackrEntrackr · 6m ago
IntrCity crosses Rs 320 Cr income in FY24, nears break-even
Medial

Travel-tech platform IntrCity, which owns SmartBus and RailYatri, could not replicate its FY23 growth momentum in FY24. After achieving six-fold growth in FY23, the company recorded a modest 16% year-on-year revenue increase for the fiscal year ending March 2024. However, the Nandan Nilekani family trust-backed firm reduced its losses by over 52%, bringing them below Rs 10 crore in FY24. IntrCity's revenue from operations grew 15.9% to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23, as per the company's consolidated financial statements with the Registrar of Companies. IntrCity operates web and mobile platforms for its brands, SmartBus and RailYatri. The flagship brand, IntrCity SmartBus, caters to long-distance bus routes across India, while RailYatri offers train travel services such as ticket booking and meal ordering. As per the filings, the majority of commission revenue came from the Indian Railway Catering and Tourism Corporation (IRCTC) during FY24. The company collected 93.8% of the revenue from bus operations which went up 16.9% to Rs 297.71 crore in FY24. It also earned Rs 18.08 crore from commission along with Rs 1.55 crore via advertisement services. Additionally, collection from interest and gain on financial assets (non-operating revenue) stood at Rs 3.38 crore. Including this, the company's overall revenue climbed to Rs 320.7 crore in FY24. On the expense side, the cost of revenue (direct cost for the distribution of services) accounted for 68.3% of the total expenditure. This cost grew 14.2% to Rs 225.8 crore in FY24 from Rs 197.8 crore in FY23. Operation and maintenance costs went up 9.3% to Rs 43.5 crore while spending on employee benefits remained almost flat at Rs 36.85 crore during the last fiscal year. The company incurred Rs 7.42 crore on advertisement and promotions and paid Rs 3.9 crore commission for catering and payment gateway services. In the end, IntrCity's expenses increased 9.7% to Rs 330.6 crore during FY24 in comparison to Rs 301.3 crore during FY23. On the back of controlled expenditure and double-digit growth in revenues, the firm managed to bring down its losses by 53.7% to Rs 9.9 crore in FY24. The losses were at Rs 21.4 crore in the previous fiscal year. Operating cash outflows of IntrCity also improved by 69.8% during the period and stood at Rs 6.1 crore. As of the last fiscal year, the firm's outstanding losses stood at Rs 242.5 crore. During FY24, the travel-tech platform managed to improve its EBITDA margin by 459 BPS to -2.08%. On a unit level, IntrCity spent Rs 1.04 to earn an operating revenue during the said period. IntrCity has Rs 17.4 crore in cash and bank balances while its total assets stood at Rs 41.2 crore for the fiscal year ended March 2024. As per the startup data intelligent platform TheKredible, IntrCity has raised over $50 million to date and was valued at around Rs 912 crore or $110 million in the latest funding round in February this year. Among online travel aggregator (OTA) platforms, MakeMyTrip is the largest player in terms of revenue. Ixigo, EaseMyTrip, Yatra, and Cleartrip are also the key players in the segment.

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