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Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70%

EntrackrEntrackr · 2m ago
Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70%
Medial

Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70% Bengaluru-based cloud media SaaS firm Amagi Media Labs has posted a strong financial turnaround in FY25. The company’s operating revenue surged 32% to Rs 1,163 crore from Rs 879 crore in FY24. Amagi reduced its losses by 72% to Rs 69 crore in FY25 from Rs 245 crore in the previous fiscal year. Amagi is a cloud-based media SaaS technology company providing solutions for content creation, distribution, and monetization. The majority of its revenue came from the America region, contributing Rs 847 crore, marking a 33% jump from FY24. Europe followed with Rs 202 crore, while Asia Pacific markets saw the sharpest growth at 77% to Rs 78 crore. On the expense side, employee benefit expenses grew 5% to Rs 695 crore, and communication costs rose 34% to Rs 364 crore. Total expense grew moderately by 8% to Rs 1,275 crore in FY25. Amagi converted into a public company in May 2025 in preparation for listing. The IPO is being managed by a consortium of banks including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. According to startup data intelligence platform TheKredible, Amagi has raised approximately $340 million to date from investors such as Premji Invest, Accel, and General Atlantic.

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Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses

EntrackrEntrackr · 3m ago
Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses
Medial

Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24 and managed to narrow its EBITDA losses, as per the company’s press release. Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24, as per the company’s press release. The Gurugram-based firm also managed to reduce its EBITDA losses from -38% to -21% during the same period. Founded by Aditya Kandoi, Redcliffe operates a nationwide network of over 80 labs and claims to have the widest home sample collection footprint in the country. Diagnostic services contributed over 95% of the company’s revenue in FY25, with the rest coming from product sales and other operating income. The company said it diagnosed over 2.5 million cases last fiscal and continues to focus on expanding in underserved regions, with more than 70% of its testing volumes now coming from Tier II cities and beyond. On the profitability front, Redcliffe reported a gross margin of 70% in FY25 and is aiming to expand it to 74% in FY26. It has also set a revenue target of Rs 560 crore for the ongoing fiscal through organic growth and strategic acquisitions. “We are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,” said Kandoi. The company plans to expand its presence to over 300 cities with 150 labs by FY28. According to startup data platform TheKredible, Redcliffe has raised $113 million to date, including a $42 million Series C round led by LeapFrog. It also acquired Bengaluru-based Celara Diagnostics in a $7 million deal. Redcliffe competes with players like PharmEasy-owned Thyrocare, Tata 1mg, and Healthians.

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 1m ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

Cleartrip spent Rs 608 Cr on discount and cashbacks for Rs 169 Cr net revenue in FY25

EntrackrEntrackr · 17d ago
Cleartrip spent Rs 608 Cr on discount and cashbacks for Rs 169 Cr net revenue in FY25
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Cleartrip, Flipkart-owned online travel aggregator (OTA), narrowed its losses by 20% in FY25 on the back of 70% revenue growth, though losses remained high at Rs 651 crore. Flipkart-owned online travel aggregator (OTA) Cleartrip improved its financial performance in the fiscal year ending March 2025, with revenue growing 70% and losses declining 20%. However, the company spent over Rs 600 crore on discounts and cashbacks to achieve this scale. Cleartrip’s net operating revenue surged 70% to Rs 169.3 crore in FY25 from Rs 99.7 crore in FY24, according to its annual filings with the Registrar of Companies (RoC). Cleartrip generated Rs 516.46 crore from service income in FY25, recording a 40% growth over FY24. It also earned Rs 248.38 crore from commissions and incentives, along with Rs 12.7 crore from other operating services. However, heavy discounts and cashbacks of Rs 608.2 crore during the year pulled its net operating revenue down to Rs 169.3 crore. On the cost side, employee benefits were Cleartrip’s largest expense, accounting for 27% of total burn. These costs fell 40% in FY25 from Rs 400.5 crore in FY24. This includes Rs 52.65 crore in non-cash ESOP expenses. Excluding ESOPs, spending on salaries and wages stood at Rs 186.6 crore in the fiscal year ended March 2025. Cleartrip spent Rs 102.16 crore on advertising and marketing in FY25, while commissions and brokerage costs surged over 80% to Rs 128.75 crore from Rs 70 crore in FY24. Finance costs also rose 50% to Rs 143.2 crore, and the company incurred Rs 78.65 crore in payment gateway charges. Other overheads, including outsourcing, IT, and legal and professional services, pushed Cleartrip’s total expenses to Rs 885.8 crore in FY25, down over 10% from Rs 990.7 crore in FY24. The Mumbai-based company’s 70% increase in revenue and control in its expenses led the company to cut its losses by 20% to Rs 651 crore in FY25, compared to Rs 810.3 crore, while its EBITDA margin stood at -334.78%. On a unit basis, it spent Rs 5.23 to earn a rupee of operating revenue in FY25 which improved from around Rs 10 in FY24. As of March 2025, the company’s current assets stood at Rs 709.8 crore, including cash and bank balances of Rs 71.6 crore. Cleartrip has become somewhat of an oddity in the Flipkart stable. Flipkart, which made almost Rs 6,400 crores from advertising in FY25, has not really done much with the OTA other than slap it on as a travel offering. But at these margins, does it even make sense? Would Flipkart be better off renting out the space to some other independent travel operator?

Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%

EntrackrEntrackr · 18d ago
Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%
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Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24% Hector Beverages Pvt Ltd, maker of Paper Boat drinks, saw steady growth in FY25, with a 16% year-on-year rise in operating scale and a 24% reduction in losses to under Rs 50 crore. Hector Beverages Pvt Ltd, maker of Paper Boat drinks, pursued steady growth in the fiscal year ending March 2025. The company recorded a modest 16% year-on-year increase in operating scale in the last fiscal year, while narrowing its losses by 24% to below Rs 50 crore. Paper Boat’s operating revenue rose to Rs 668.28 crore in FY25 from Rs 574.48 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) shows. Founded by former Coca-Cola executives Neeraj Kakkar and Niraj Biyani, Paperboat offers packaged juices, coconut water, traditional Indian snacks, and dry fruits. Products traded through third-party manufacturers contributed 66% of its operating revenue. Collection from this spiked 45% to Rs 441.43 crore in FY25 from Rs 304.32 crore in FY24. In contrast, revenue from its own manufactured products, which made up 33.78% of the total, declined 16% to Rs 225.72 crore during the fiscal year. Paper Boat also earned a non-operating income of Rs 14.2 crore, mainly from interest on bank deposits, taking its total income to Rs 682.44 crore. On the expense side, the cost of materials remained the largest component, which accounted for 62% of total expenses at Rs 444 crore in FY25. Employee benefit expenses rose 32% to Rs 90.35 crore, while selling and distribution costs stood at Rs 58.47 crore, and depreciation, travel, and other overheads pushed overall expenses to Rs 716.53 crore. The Peak XV-backed company cut its losses by 24% to Rs 48.25 crore in FY25, with ROCE at -14% and EBITDA margin at -3.86%. On a unit basis, it spent Rs 1.07 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 276.17 crore, including cash and bank balances of Rs 42.39 crore. According to startup data intelligence platform TheKredible, Paperboat has raised $143 million to date from investors including GIC, Peak XV, Sofina Ventures, and A91 Partners. GIC holds a 25% stake in the company, while Sofina and Peak XV each own over 18%.

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

EntrackrEntrackr · 5m ago
Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%
Medial

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%

EntrackrEntrackr · 6m ago
Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%
Medial

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83% Global edtech company Eruditus recorded modest year-on-year growth in its operating revenue, crossing the Rs 3,700 crore ($448 million) mark in the fiscal year ending June 2024. The Mumbai-based firm narrowed its losses by over 83% during the same period. Compared to FY23, the firm’s operating scale grew by 12% to Rs 3,733 crore, according to its annual financial statement sourced from Singapore. Eruditus follows a financial year that runs from July to June. The firm appears to be ahead of the leading edtechs, with revenue nearly 1.8 times that of PhysicsWallah and more than double that of upGrad. PhysicsWallah reported Rs 2,015 crore revenue in FY24 whereas upGrad registered Rs 1,487 crore revenue in the same period. Eruditus offers education across more than 80 countries to over a million learners. It partners with over 80 universities across the United States, Europe, Latin America, Southeast Asia, India, and China. The firm didn’t offer revenue break-up across geographies. The company deferred recognition of Rs 800 crore ($96 million) in collected revenue to the last fiscal year (FY25). Eruditus made progress in controlling its expenses as its marketing expenses dipped 18.85% year-on-year to Rs 1,007 crore in FY24 from Rs 1,241 crore in FY23. Other operating expenses were down by 32.16% year-on-year to Rs 1,045 crore in FY24 from Rs 1,541 crore in FY23. The cost optimizations led to a sharp improvement in the company’s bottom line. Eruditus narrowed its adjusted EBITDA losses by 83.45% to Rs 69 crore ($8.3 million) in FY24 from Rs 417 crore ($50 million) in FY23. With backing from investors such as TPG, the Chan Zuckerberg Initiative, SoftBank Vision Fund 2, Prosus Ventures, Accel, and Peak XV, Eruditus has the capital reserve to expand its presence and offerings across markets. In October 2024, it raised $150 million in the second-largest edtech deal of the year, after PhysicsWallah’s $210 million funding. With revenue approaching $500 million and an 83% reduction in losses, the company shows a path toward sustainable growth in the edtech industry. Heading into FY25 with deferred revenue, Eruditus is on track to achieve profitability while building on its revenue base.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 8m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income

EntrackrEntrackr · 21d ago
Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income
Medial

Unacademy’s total revenue decreased 16% year on year to Rs 826.3 crore in FY25, compared to Rs 988 crore in FY24, according to the internal document reviewed by Entrackr. Despite the year-on-year decrease in total revenue, edtech unicorn Unacademy managed to reduce its EBITDA losses by 37.6% year-on-year in the fiscal year ending March 2025. Moreover, the SoftBank-backed firm also reduced its net losses by 31% year-on-year to Rs 436 crore in FY25. The firm’s EBITDA loss was Rs 305 crore, down from Rs 489 crore in FY24, a 38% reduction due to cost optimization measures. As of March 2025, Unacademy had a cash and cash equivalent balance of Rs 1,238 crore. Recently, Unacademy elevated Sumit Jain, co-founder and head of its Graphy subsidiary, as CEO of its flagship Test Prep business.

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses

EntrackrEntrackr · 3d ago
Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses
Medial

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Kunal Manchanada 17 Oct 2025 18:29 IST HR tech unicorn Darwinbox sustained its growth in FY25, with operating revenue rising 50% year-on-year, aided by international expansion and deeper penetration in existing markets, the firm said in a press release. According to the company, Darwinbox’s revenue from operations grew to Rs 533.9 crore in FY25 from Rs 334 crore in FY24. International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Darwinbox added that its U.S. operations launched two years ago and are beginning to gain meaningful traction, alongside strong adoption in SEA and MENA regions, according to the release. When it comes to the bottom line, the company’s adjusted net loss improved by 12% over FY24, excluding non-cash ESOP expenses. Excluding investments in the U.S. business, the adjusted net loss narrowed 42% year-on-year, as per the press release. Hyderabad-based Darwinbox offers a cloud-based HR management platform covering recruitment, payroll, engagement, talent, and analytics. The firm said most of its revenue comes from Southeast Asia and India. It has over 1,016 enterprise customers globally. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The company also recently granted $21 million in ESOPs to its employees, a development exclusively reported by Entrackr. This follows its Rs 86 crore ($10 million) ESOP buyback in June this year.

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