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Qure.aiโ€™s losses widen 87% to Rs 90 Cr in FY25

EntrackrEntrackr ยท 1m ago
Qure.aiโ€™s losses widen 87% to Rs 90 Cr in FY25
Medial

Qure.ai, a Mumbai-based healthtech startup leveraging artificial intelligence for radiology solutions, saw its losses nearly double in the fiscal year ending March 2025, even as it clocked steady revenue growth. Qure.aiโ€™s operating revenue grew 24.5% to Rs 175.5 crore in FY25 from Rs 141 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). Qure.ai offers AI-driven solutions designed to assist radiologists and physicians in diagnosing critical conditions such as tuberculosis, lung cancer, and stroke. In the last fiscal year, sales of these tools and software contributed 86% of the companyโ€™s operating revenue, increasing by 23% to Rs 151 crore. The remaining revenue was generated from the sale of healthcare products. Geographically, the company continues to derive the bulk of its revenue from overseas markets. Revenue from outside India surged 39.6% to Rs 174 crore, forming over 99% of Qure.aiโ€™s topline. Revenue from India, however, fell sharply by 80% to Rs 1.3 crore in FY25. In line with many tech and AI-driven companies, employee benefit expenses made up nearly 48% of overall costs, increasing to Rs 133 crore in FY25 from Rs 109 crore in FY24. Legal and professional fees climbed to Rs 37 crore, while cloud computing charges nearly doubled to Rs 18 crore. Depreciation also spiked to Rs 22 crore from Rs 12 crore a year earlier. Overall, Qure.aiโ€™s total costs rose 39% to Rs 279 crore in FY25 from Rs 201 crore in FY24. Due to the companyโ€™s cost outpacing revenue growth, Qure.aiโ€™s loss increased by 87.5% to Rs 90 crore in FY25 from Rs 48 crore in FY24. Its ROCE and EBITDA margin stood at -20.99% and -45.30% respectively. On a unit basis, the company spent Rs 1.59 to earn a rupee of operating revenue in FY25. The Mumbai-based company reported current assets worth Rs 406 crore in FY25 including Rs 35 crore in cash and bank balances. According to TheKredible, Qure.ai has raised a total of $121 million of funding till date, having Peak XV Partners, HealthQuad, and Novo Holdings as its lead investors. The companyโ€™s founder and CEO Prashant Warier owns 3.55% of the company.

Wakefit posts Rs 1,274 Cr revenue in FY25; losses widen

EntrackrEntrackr ยท 25d ago
Wakefit posts Rs 1,274 Cr revenue in FY25; losses widen
Medial

Home and sleep solutions brand Wakefit recorded nearly 30% year-on-year growth during the fiscal year ending March 2025. However, its net losses doubled in the same period even as it gears up for its IPO. Wakefitโ€™s revenue from operations rose to Rs 1,274 crore in FY25 from Rs 986 crore in FY24, according to its annual financial statements filed with the Registrar of Companies (RoC). Founded in 2016, Wakefit operates as a direct-to-consumer (D2C) brand offering sleep and home solutions, including mattresses, pillows, furniture, and home improvement products. These are sold through its website, offline stores, and third-party marketplaces. Revenue from product sales forms the companyโ€™s sole source of operating income. The firm also earned Rs 31 crore from interest on deposits and profit from the sale of investments, taking its total income to Rs 1,305 crore in FY25, up from Rs 1,017 crore in FY24. The cost of materials consumed accounted for 43% of total expenses, which increased to Rs 573 crore in FY25. Employee benefit expenses grew 23% to Rs 166 crore, while legal, advertising, IT, postage, and other overheads pushed total expenditure up 29.8% to Rs 1,340 crore. The increase in advertising, postage, and employee costs widened Wakefitโ€™s net loss to Rs 35 crore, against Rs 15 crore in FY24. Despite this, the company remained EBITDA positive at Rs 59.5 crore during the year. Its ROCE and EBITDA margin stood at 4.67% and -5%, respectively. By the end of FY25, Wakefitโ€™s total current assets were valued at Rs 537 crore, while it spent Rs 1.05 to earn a rupee of operating revenue. Last month, the company received SEBI approval for its IPO, which includes a fresh equity issue of Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by promoters and existing investors. Founders Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV, Verlinvest, Investcorp, Redwood Trust, SAI Global, and Paramark, are expected to partially offload their holdings through the public issue.

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25

EntrackrEntrackr ยท 4m ago
Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25
Medial

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25 Quick commerce unicorn Zepto clocked Rs 11,110 crore (nearly $1.3 billion) in turnover in FY25, a sharp 150% jump from Rs 4,454 crore in FY24, according to regulatory filings reviewed by Entrackr. Zeptoโ€™s FY25 performance comes on the back of aggressive execution and disciplined expansion. According to earlier Aadit Palichaโ€™s post, the company was at $3 billion in annualized gross order value (GOV) and halved its losses over the last year. In FY24, Zepto incurred losses of Rs 1,248 crore on revenue of Rs 4,454 crore. That means the startup spent Rs 1.29 to earn every Rs 1 of revenue in FY24, a figure it has reportedly improved in FY25 with better unit economics, higher fill rates, and stronger contribution margins. We are not comparing Zepto's FY25 numbers with Instamart and Blinkit due to differences in their business models and accounting practices. However, the NOV (net order value) of Blinkit stood at Rs 22,731 crore in FY25, while Swiggyโ€™s quick commerce biz Instamart GOV was recorded at Rs 14,600 crore in the same period. Zepto's founder Aadit Palicha did not comment on the story. As per a recent report, Zepto is in talks to raise $500 million at a potential $7 billion valuation, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. The fresh round is expected to bolster Zeptoโ€™s runway ahead of a potential IPO in 2026, as the company pushes toward EBITDA break-even in the next 12โ€“15 months.

BigBasketโ€™s B2C losses widen sharply in FY25; consolidated revenue declines

EntrackrEntrackr ยท 4m ago
BigBasketโ€™s B2C losses widen sharply in FY25; consolidated revenue declines
Medial

BigBasketโ€™s financial performance deteriorated in FY25, with its core B2C unit posting a steep rise in losses even as overall revenue declined. The platform, backed by Tata Digital, continues to face pressure on multiple fronts, from quick commerce rivals to evolving consumer expectations. According to Tata Sonsโ€™ FY25 annual report, Innovative Retail Concepts, which runs BigBasketโ€™s consumer-facing business, saw its operating revenue shrink by 2.7% to Rs 7,673.4 crore from Rs 7,885 crore in FY24. At the same time, its loss widened sharply to Rs 1,850 crore, compared to Rs 1,267 crore in the previous fiscal year, marking a 46% year-on-year increase. The red ink highlights the cost burden BigBasket is incurring as it attempts to reposition itself from a scheduled grocery delivery service to a quick commerce platform. Increased spending on warehousing, logistics, discounting, and customer retention likely contributed to the widening losses. In contrast, Supermarket Grocery Supplies, the companyโ€™s B2B arm which handles procurement and backend operations, recorded a 6.9% drop in its revenue to Rs 2,227 crore in FY25, compared to Rs 2392 crore in FY24. However, its losses narrowed down to Rs 102 crore in FY25 from Rs 128 crore in FY24. The two entities cumulatively clocked Rs 9,900 crore in revenue in FY25 from over Rs 10,277 crore in the previous year ended March 2024. More importantly, losses across both businesses totaled Rs 1,952 crore, marking a significant deterioration from FY24โ€™s performance. The performance slide comes despite years of strategic restructuring. BigBasket has merged BB Daily into its core app, launched its quick commerce vertical BB Now, and initiated backend tech and supply chain upgrades. However, execution delays, coupled with the rapid scale of Blinkit, Instamart, and Zepto, have left it lagging in the under-30-minute grocery race. Tata Digital, which acquired a majority stake in BigBasket in 2021, continues to support the business, holding an 84.23% stake. But with losses now deepening and growth stagnating, the platformโ€™s transition into a sustainable quick commerce engine appears far from complete. As demand shifts towards instant delivery, BigBasketโ€™s ability to stem its B2C bleed while maintaining backend stability will determine whether it can claw back relevance in one of Indiaโ€™s most competitive internet categories.

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

EntrackrEntrackr ยท 4m 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 companyโ€™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 companyโ€™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 companyโ€™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. โ€œWe are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,โ€ 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.

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat

EntrackrEntrackr ยท 3m ago
Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat
Medial

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat Ather Energy reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm also narrowed losses by 3%. Electric two-wheeler maker Ather Energy has announced its financial results for the first quarter of the ongoing financial year FY26. The company reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm narrowed losses by 3%. Atherโ€™s revenue from operations increased by 79% to Rs 645 crore in Q1 FY26, from Rs 360 crore in Q1 FY25, according to its quarterly report sourced from the National Stock Exchange (NSE). The Tarun Mehta-led company did not provide a revenue breakdown during the last quarter. Atherโ€™s cost of materials, primarily driven by battery and component procurement, made up the largest share of its expenditure. This cost increased by nearly 74% to Rs 518 crore in Q1 FY26 from Rs 297 crore in the same period last year, accounting for over 61% of the total expenses during the quarter. Employee benefit expenses saw a surge of 37% YoY to Rs 119 crore in Q1 FY26 compared to Rs 87 crore in Q1 FY25. Depreciation and amortization costs rose 20% to Rs 48 crore, while other operational costs jumped nearly 31% to Rs 166 crore. Overall, Atherโ€™s total expenditure grew 54% to Rs 851 crore in Q1 FY26, up from Rs 551 crore in Q1 FY25. As a result, the companyโ€™s net losses reduced by 3% to Rs 178 crore in Q1 FY26 from Rs 183 crore in Q1 FY25. In July 2025, Ather Energy maintained its fourth-place market position, selling 16,231 units. This represents a 10.59% month-on-month increase from the 14,677 units sold in June, bringing their market share to 15.78%. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE. However, the stock is currently trading at Rs 375, bringing its total market capitalization to Rs 13,723 crore ($1.5 billion). Ather competitor Ola Electricโ€™s topline shrank by nearly 50% year-on-year during the first quarter of FY26. At the same time, the Bengaluru-based firmโ€™s losses widened by 23%.

Metalbookโ€™s gross revenue crosses Rs 1,300 Cr in FY25

EntrackrEntrackr ยท 26d ago
Metalbookโ€™s gross revenue crosses Rs 1,300 Cr in FY25
Medial

Metalbookโ€™s gross revenue crosses Rs 1,300 Cr in FY25 Following a 76% year-on-year growth in FY24, metal supply-chain platform Metalbook maintained its momentum in FY25, crossing the Rs 1,300 crore revenue mark, a 66.7% jump from Rs 796 crore in FY24. According to its internal financial documents reviewed by Entrackr, the companyโ€™s revenue from operations stood at Rs 1,327 crore during FY25, while total income reached Rs 1,332 crore. The sale of ferrous commodities accounted for 71% of the total operating revenue, growing 33% to Rs 938 crore in FY25. Meanwhile, income from non-ferrous commodities and other operating activities jumped 4X to Rs 389 crore during the last fiscal year. For the metal supply-chain platform, the cost of procurement of metals formed 95.6% of the total costs. In line with its scale, this cost grew by 64% to Rs 1,303 crore in FY25. Meanwhile, its total expenses rose in proportion, up 66.9% to Rs 1,362 crore. Despite the scale-up, Metalbook managed to retain cost discipline, maintaining its expense-to-revenue ratio at 1.03X, the same as last year. Metalbookโ€™s operating losses modestly remained at Rs 9.8 crore from Rs 9.7 crore, with the firmโ€™s EBITDA margin remained steady at -0.7%, indicating that operational efficiency has largely held up amid strong topline growth. On the balance sheet, Metalbookโ€™s total assets surged 26% to Rs 245 crore, backed by improved liquidity as cash and bank balances rose 24% to Rs 77.5 crore. Founded in 2021, Metalbook operates a full-stack digital marketplace for metal procurement, logistics, and financing. Following its $18 million Series A round led by Rigel Capital and Foundamental, the company has been expanding across niche categories in the metal, energy, and sustainability supply chains. Metalbook is well placed to benefit from the massive push for Make in India and infrastructure development in India, with demand for most metal and minerals in its portfolio expected to stay steady, if not higher. The firm has been meeting projected revenues by doing the basics right, and the B2B player should be able to deliver profits soon.

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