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Adda247 logs 88% jump in revenue to Rs 243 crore

Economic Times

Economic Times · 1y ago

Adda247 logs 88% jump in revenue to Rs 243 crore

Adda247, an edtech startup backed by Google, has reported a revenue of ₹243.39 crore in the fiscal year 2024, showing an 88% YoY increase. The company also reduced its net loss by 66% to ₹101 crore. The growth can be attributed to existing verticals in government job exams and UPSC, as well as the introduction of the K13 vertical. Adda247 aims to achieve profitability by the end of this year and plans to expand its reach to more states and languages. It currently has around 1 million paid users and aims to reach 1.7 million by the end of the year.

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Adda247 Marks Fourth Acquisition With Placement Preparation Platform PrepInsta

Inc42 · 1y ago

Adda247 Marks Fourth Acquisition With Placement Preparation Platform PrepInsta

Adda247 has acquired PrepInsta, a placement preparation platform, expanding its offerings in job-focused education and skilling programs. This marks Adda247's fourth acquisition, following StudyIQ, Veeksha, and Ekagrata Eduserv. In the financial year 2023-24, Adda247 recorded an 88% YoY revenue growth, reaching INR 243.39 Cr, while reducing its net loss by 66% to INR 101 Cr compared to the previous fiscal year.

Adda247 acquires CA test prep platform Ekagrata

Entrackr

Entrackr · 1y ago

Adda247 acquires CA test prep platform Ekagrata

Google-backed edtech company Adda247 has acquired chartered accountancy (CA) test preparation platform Ekagrata Eduserv for an undisclosed amount. Adda247 had previously acquired StudyIQ in January 2021 and Veeksha in July 2023. This acquisition is expected to significantly expand Adda247’s user base, which currently has 40 million monthly users (MAU). It will position Adda247 to capture a substantial share of the booming CA test preparation market, the company said in a press release. As a part of the acquisition, Anshul Agrawal, founder of Ekagrata , will be appointed as the director of CA vertical at Adda247 to lead the category. The strategic acquisition will also see Ekagrata’s employees becoming a part of Adda247. According to market research, the CA test preparation market is valued at Rs 800 crore (nearly $100 million). The acquisition comes soon after Adda247’s expansion into the skilling, up skilling, and higher education sectors. Co-founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247’s offerings include live online classes, on-demand video courses, mock tests, and e-books. As per startup data intelligence platform TheKredible, Adda247 has raised over $55 million to date from investors like Westbridge, Google, Info Edge, and Asha Impact. The firm was valued at $175 million during its last fundraise in October 2022. Gurugram-based Adda247’s revenue from operations jumped nearly two fold to Rs 115 crore in FY23 from Rs 61 crore in FY22. During the period, the firm’s losses increased by 4X to Rs 110 crore.

Edtech startup Adda247 fires 300 employees

Entrackr

Entrackr · 2y ago

Edtech startup Adda247 fires 300 employees

Edtech startup Adda247 has reportedly laid off around 250-300 employees, marking the company's first round of layoffs in recent years. The layoffs affected various verticals, including StudyIQ, a UPSC-focused platform acquired by Adda247. Sources claim that the downsizing was driven by the need to extend the runway as funding becomes scarce in the edtech sector. Adda247, backed by WestBridge Capital and Google, has raised over $60 million and was valued at $175 million in its last funding round. The company's revenue surged to Rs 61.5 crore in FY22, but losses also increased by 90% to Rs 28.8 crore.

Urban Company logs higher revenue and narrowed losses in FY24

YourStory

YourStory · 1y ago

Urban Company logs higher revenue and narrowed losses in FY24

Home service marketplace Urban Company reported a 26% increase in consolidated revenue from operations and reduced losses for the financial year 2023-24. The company achieved a revenue of Rs 826.7 crore, compared to Rs 636.5 crore in the previous year. It also narrowed its total loss to Rs 92.7 crore from Rs 312.4 crore by cutting operational costs. Urban Company's Indian segment saw a 25% rise in net revenue to Rs 738 crore. The company aims to improve its bottomline by focusing on driving efficiencies across its India and international businesses.

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59%

Entrackr

Entrackr · 21d ago

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59%

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59% Logistics company Delhivery announced its Q3 FY26 results on Saturday and reported an 18% year-on-year increase in revenue. At the same time, the company’s profit rose 59% to Rs 40 crore. Delhivery’s revenue from operations grew 18% to Rs 2,805 crore in Q3 FY26 from Rs 2,378 crore in Q3 FY25, according to its financial statements filed with the National Stock Exchange (NSE). Delhivery’s primary revenue came from its logistics services, including warehousing, last-mile delivery, and the design and deployment of logistics management systems. The company also earned Rs 77 crore from non-operating activities, bringing its total revenue to Rs 2,882 crore in Q3 FY26. Freight handling and servicing costs accounted for 70% of total expenditure and rose 7.4% to Rs 1,980 crore in Q3 FY26. Employee benefit expenses declined marginally by 4% to Rs 410 crore, while depreciation and amortization costs stood at Rs 187 crore. Legal, finance, and other overheads added another Rs 243 crore, a 4% year-on-year increase. An 18% rise in operating revenue and controlled expenditure helped the firm increase its profit by 59% to Rs 40 crore in Q3 FY26, compared with Rs 25 crore in Q3 FY25. The company had reported a loss of Rs 50 crore in the previous quarter. For the first nine months of the fiscal year ending March 2026, revenue from operations rose over 13% year-on-year to Rs 7,658 crore, while profit stood at Rs 88 crore. In a separate exchange filing, Delhivery granted 70,900 employee stock options worth Rs 3 crore, based on the company’s current share price. At the end of the last trading session, Delhivery’s share price stood at Rs 426.35, giving the company a market capitalization of Rs 31,903 crore (approximately $3.54 billion).

Awfis posts Rs 382 Cr revenue and Rs 22 Cr profit in Q3 FY26

Entrackr

Entrackr · 19d ago

Awfis posts Rs 382 Cr revenue and Rs 22 Cr profit in Q3 FY26

Coworking solutions provider Awfis has announced its financial results for the third quarter of FY26, reporting a 20% year-on-year growth in revenue while posting a profit of Rs 21.6 crore during the quarter. The company’s revenue from operations grew to Rs 382 crore in Q3 FY26 from Rs 318 crore in the same quarter last year, according to its financial statements sourced from the NSE. Other income contributed an additional Rs 29 crore, taking the company’s total income to Rs 411 crore for the quarter. For the nine months ended December, the firm’s revenue grew 24.5% to Rs 1,083 crore compared to Rs 868 crore in the corresponding period last year. Revenue from coworking spaces remained the largest contributor, accounting for 84% of the total operating revenue. This segment grew 32.5% to Rs 322 crore in Q3 FY26 from Rs 243 crore in Q3 FY25. Meanwhile, the construction and fit-out projects segment generated Rs 60 crore in revenue during the quarter. On the expense side, depreciation remained the largest cost component at Rs 99 crore, while employee benefits expenses stood at Rs 36 crore. Finance costs, subcontracting expenses, and other overheads together pushed the company’s total expenses to Rs 389 crore in Q3 FY26 from Rs 317 crore in Q3 FY25. Improved revenue performance, along with a jump in other income, led the company’s profit to increase by 44% to Rs 21.6 crore in Q3 FY26, compared to Rs 15 crore in Q3 FY25. At the end of today’s trading session, Awfis’ stock closed at Rs 389.5, valuing the company at a market capitalization of Rs 2,759 crore (approximately $303 million).

Google-backed Adda247’s revenue doubles, losses grow fourfolds in FY23

Money Control

Money Control · 2y ago

Google-backed Adda247’s revenue doubles, losses grow fourfolds in FY23

Adda247, a vernacular test prep platform backed by Google, reported a 2x increase in revenue for FY23, reaching Rs 129.65 crore. However, the company's losses also escalated, growing nearly fourfold to Rs 109.72 crore, primarily due to increased expenses in investing in its UPSC and vernacular segments. With a focus on test prep and skilling, Adda247 aims to achieve profitability by FY25 and is eyeing an IPO within the next two to three years. The company currently serves 50 million monthly active users and over 2 million paid users.

Adda247 posts Rs 115 Cr revenue in FY23; losses zoom 4X

Entrackr

Entrackr · 2y ago

Adda247 posts Rs 115 Cr revenue in FY23; losses zoom 4X

Gurugram-based edtech platform Adda247 recorded a revenue of Rs 115 crore in FY23, marking an 89% increase from the previous year. Despite the positive growth, the company's losses grew four times during the same period. The majority of the revenue came from the sale of online courses, e-books, and test series. Adda247 aims to cover various segments, including K-12, JEE, and GATE, while also targeting profitability by FY25 and considering an IPO in the next two to three years.

PhysicsWallah's loss declines nearly 80% to Rs 243 crore in FY25; pays Rs 1,426 crore in salaries

IndianStartupNews

IndianStartupNews · 5m ago

PhysicsWallah's loss declines nearly 80% to Rs 243 crore in FY25; pays Rs 1,426 crore in salaries

PhysicsWallah, a leading Indian edtech company, has significantly reduced its losses by nearly 80% to Rs 243 crore in FY25. The company reported operating revenue of Rs 2,886.6 crore, up 49% from the previous year, fueled by both online courses and an increasing network of offline coaching centers. Despite high expenses, including Rs 1,401 crore on employee benefits, PhysicsWallah turned EBITDA positive with a margin improvement to 6.7% and plans a Rs 3,820 crore IPO.

Kuku FM nearly triples FY25 revenue to Rs 242 crore; loss widens to Rs 153 crore

IndianStartupNews

IndianStartupNews · 1m ago

Kuku FM nearly triples FY25 revenue to Rs 242 crore; loss widens to Rs 153 crore

Kuku FM experienced significant growth in FY25, nearly tripling its operating revenue to Rs 242 crore from Rs 88 crore the previous year, driven by increased advertising expenses. Despite the revenue surge, the company’s net loss widened by 59% to Rs 153 crore due to aggressive marketing spending. Founded in 2018, Kuku FM offers long-form audio content and has about 10 million paying subscribers. The company is planning an IPO to raise up to Rs 3,000 crore.

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