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BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Economic TimesEconomic Times · 11m ago
BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%
Medial

Innovative Retail Concepts Pvt Ltd, the B2C unit of BigBasket, posted a 6% YoY growth in operating revenue for FY24, reaching Rs 7,885 crore. It reported a net loss of Rs 1,267 crore, down 17% YoY. The company faces competition from quick commerce players like Blinkit, Instamart, and Zepto in the online grocery delivery space. BigBasket is planning to shift its focus entirely to quick commerce. The company's total expenditure increased slightly, while advertisement income remained flat. Tata Group, which owns majority stake in BigBasket, halted fresh investments to reevaluate profitability strategies. BigBasket aims to raise $80-100 million for expansion plans, including the expansion of dark stores.

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BigBasket reports 6% increase in FY24 consolidated operating revenue at Rs 10,062 crore

Economic TimesEconomic Times · 10m ago
BigBasket reports 6% increase in FY24 consolidated operating revenue at Rs 10,062 crore
Medial

- Supermarket Grocery Supplies, the parent company of BigBasket, reported a 6% increase in operating revenue for FY24 at Rs 10,062 crore. - BigBasket's losses reduced to Rs 1,415 crore from Rs 1,785 crore in FY23. - Total expenses for BigBasket slightly increased to Rs 11,515 crore compared to Rs 11,284 crore in FY23. - BigBasket's advertising and sales promotion costs decreased from Rs 385 crore to Rs 330 crore in FY24. - Innovative Retail Concepts, a subsidiary of Supermarket Grocery Supplies, registered a 6% YoY growth in operating revenue for FY24 at Rs 7,885 crore, with a net loss of Rs 1,267 crore. - BigBasket is planning to raise $80-100 million through a mix of debt and equity to support its expansion plans, especially in the quick-commerce segment.

BigBasket’s B2C losses widen sharply in FY25; consolidated revenue declines

EntrackrEntrackr · 1m ago
BigBasket’s B2C losses widen sharply in FY25; consolidated revenue declines
Medial

BigBasket’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 Sons’ FY25 annual report, Innovative Retail Concepts, which runs BigBasket’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 company’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 FY24’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 platform’s transition into a sustainable quick commerce engine appears far from complete. As demand shifts towards instant delivery, BigBasket’s ability to stem its B2C bleed while maintaining backend stability will determine whether it can claw back relevance in one of India’s most competitive internet categories.

BigBasket’s revenue crosses Rs 10,000 Cr in FY24

EntrackrEntrackr · 11m ago
BigBasket’s revenue crosses Rs 10,000 Cr in FY24
Medial

Tata Digital-owned BigBasket is making a strategic shift to focus exclusively on the burgeoning quick commerce market targeting $1.5 billion (Rs 12,400 crore) in total sales for the current fiscal year (FY25). While the impact of the pivot and its new target will unfold after the completion of FY25, it crossed the Rs 10,000 crore topline mark in FY24. Significantly, BigBasket also narrowed down losses by over 20%. BigBasket’s revenue from operations went up 6.27% to Rs 10,061.9 crore during the fiscal year ending March 2024 as compared to Rs 9,468.5 crore in FY23, as per the company’s consolidated financial statements sourced from the Registrar of Companies (RoC). It’s worth highlighting that, Supermarket Grocery Supplies Private Limited is the main entity of BigBasket which also includes its business-to-consumer (B2C) unit, Innovative Retail Concepts Private Limited, and other acquired companies. The company made 97% of its total operating revenue via the sale of grocery products and the rest came from ancillary services and other operating activities. It also earned Rs 37.89 crore from interest and gain on financial assets which took the firm’s overall revenue to Rs 10,099.8 crore during the last financial year (FY24). BigBasket, which recently announced a pivot of its business entirely to quick commerce, is planning to consolidate services by merging its BBdaily subscription service into its main app. By aligning its operations with 10-15 minute delivery, BigBasket is positioning itself to compete more aggressively with established players like Blinkit, Swiggy Instamart, Zepto, and Flipkart Minutes. Moving to the expenses, the cost of goods sold (COGS) accounted for 71.3% of the total expenses and grew 3.4% to Rs 8,209.6 crore in FY24. Employee benefits expenses, however, slipped 11.7% to Rs 936.6 crore during the same period. The employee cost also includes employee stock options (ESOP) expenses worth Rs 98.5 crore. Other major expenses of the company include transportation, distribution, advertising & promotions, technical services, and other admin and operating expenses. For more details, head to TheKredible. Overall, BigBasket managed to control its total expenses which increased a mere 2% to Rs 11,515 crore in FY24 from Rs 11,284.7 crore in FY23. The controlled expenses also helped in reducing losses significantly which shrank 20.73% to Rs 1,415 crore during FY24. Its operating cash outflows also improved by 18.5% to Rs 1,103 crore during the year. BigBasket’s outstanding losses stood at Rs 7,619.85 crore as of FY24. The Bengaluru-based firm’s EBITDA margin improved by 463 BPS to -9.39% in FY24. On a unit level, BigBasket spent Rs 1.14 to earn a rupee of operating revenue during the last fiscal year. FY23-FY24 FY23 FY24 EBITDA Margin -14.02% -9.39% Expense/₹ of Op Revenue ₹1.19 ₹1.14 ROCE -51.37% -70.62% During FY24, Zomato’s Blinkit and Swiggy’s Instamart recorded Rs 2,301 crore and Rs 1,100 crore gross revenue, respectively. Another competitor in the space, Zepto claimed that its revenue has jumped five-fold to more than Rs 10,000 crore in FY24. The audited numbers of the Aadit Palicha-led company is yet to come.

Exotel posts flat scale in FY24; losses shrink 61%

EntrackrEntrackr · 8m ago
Exotel posts flat scale in FY24; losses shrink 61%
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Fintrackr All Stories Exotel posts flat scale in FY24; losses shrink 61% Exotel’s revenue from operations increased 5.7% to Rs 444 crore in FY24 from Rs 420 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Kunal Manchanada 26 Dec 2024 11:55 IST Follow Us New Update Bengaluru-based cloud telephony platform Exotel reported flat growth for the fiscal year ending March 2024. Despite stagnant revenue, the company significantly improved its financial health, narrowing losses by more than 60%. This improvement was driven by strategic cost-cutting measures, particularly in employee benefits and advertising expenses. Exotel’s revenue from operations increased 5.7% to Rs 444 crore in FY24 from Rs 420 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Exotel provides cloud-based voice and SMS contact center solutions, enabling businesses to manage customer engagement efficiently. Its primary revenue stream comes from offering internet-enabled cloud communication services. Exotel also makes money through software licensing, chatbot services, and sales of its products, including APIs, browser extensions, software development kits, and mobile applications. Exotel has not provided the income bifurcation of above mentioned- services. However, 14% of its business came from Southeast Asia, the Middle East, and Africa in FY24. The company also added Rs 16 crore mainly from interest on deposits and investments, tallying the overall revenue to Rs 460 crore in FY24, compared to Rs 447 crore in FY23. For the cloud-based voice and SMS contact center firm, the cost of telephone and postage formed 39% of its overall cost which increased 10.2% to Rs 195 crore in FY23. Exotel managed to keep its employee benefits in check, which saw a reduction of 24% in FY24 to Rs 186 crore, as compared to Rs 245 crore in FY23. It’s worth noting that Exotel went through layoff during FY24, reducing its workforce by 15%. Its decreased advertising, legal, payment gateway, traveling, information technology, and other overheads took the total expenditure to Rs 499 crore in FY24 from Rs 555 crore in FY23. See TheKredible for the detailed expense breakup. Despite the modest growth in scale, the company managed to control its expenditures, resulting in its losses shrinking by 60.6% to Rs 43 crore in FY24 from Rs 109 crore in FY23. According to Fintrackr, Exotel’s EBITDA losses stood at Rs 16 crore in FY24. Exotel’s expense-to-revenue ratio was recorded at Rs 1.12, with ROCE and EBITDA margins of -8.9% and -3.48%, respectively. According to the annual statements, its total current assets were registered at 379 crore, with cash and bank balances of Rs 206 crore as of March 2024. The company has raised over $100 million so far including a $40 million Series D round led by Steadview Capital in 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder with a 25.7% stake followed by Blume Ventures. Exotel directly competes with Gupshup-owned Knowlarity, MyOperator, Ozonotel, and Tata Communications, and a few others. exotel Advertisment Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here. Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news Subscribe Now Related Articles LIVE ShopKirana struggles to scale in FY24, narrows losses by 30% LIVE LEAD hits Rs 350 Cr revenue milestone in FY24; cuts losses by 56% LIVE Simplilearn cuts losses by 56% in FY24, revenue growth stagnates LIVE Curefoods reports Rs 635 Cr income in FY24, halves losses LIVE Mintifi reports Rs 92 Cr PAT on Rs 384 Cr revenue in FY24 Read the Next Article

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

EntrackrEntrackr · 6m 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).

Amazon India logistics unit posts Rs 4,889 Cr income in FY24

EntrackrEntrackr · 9m ago
Amazon India logistics unit posts Rs 4,889 Cr income in FY24
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Amazon Transportation Services reported a marginal growth in its revenue during the fiscal year ending March 2024. At the same time, the company reduced its losses by over 6% during the same period. AmazonTransport Services aka ATS’s revenue from operations grew 7.6% to Rs 4,888.9 crore in FY24 from Rs 4,543.3 crore in FY23, its standalone financial statement sourced from Tofler shows. Apart from operational income, ATS’s other income spiked 66% to Rs 57.3 crore in FY24 from Rs 34.5 crore in the previous fiscal year. This brought the total income for FY24 to Rs 4,946.2 crore. Amazon Transportation Services provides logistics and delivery solutions, supporting Amazon's e-commerce operations. Its services include order pickup, sorting, and last-mile delivery across India. It makes money via offering aforementioned services to Amazon India. The company’s total expenses excluding depreciation stood at Rs 4,690.8 crore in FY24 from Rs 4,310.2 crore in FY23, marking an 8.8% rise. Depreciation expenses, however, decreased by 10.2%, standing at Rs 313.7 crore for FY24, down from Rs 349.4 crore in FY23. Despite the growth in revenue, ATS managed to reduce its losses by 6.3% to Rs 80.3 crore in FY24 from Rs 85.7 crore in FY23. Its outstanding losses reached Rs 469.8 crore as of the end of FY24. Other equity components, including the share-based compensation reserve, increased 26% to Rs Rs 490.4 crore in the last fiscal year. While ATS’s parent company, Amazon Corporate Holdings continues to support its operations, the persistent losses indicate ongoing challenges in reaching profitability despite YoY revenue growth. In the past five years, Amazon India (through transport services) has expanded its partnership with Indian Railways, increasing from a single train in 2019 to over 120 trains by 2024, now covering 130 intercity routes across 91 cities.

Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

EntrackrEntrackr · 9m ago
Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips
Medial

Temasek’s Fullerton recently acquired the troubled fintech firm Lendingkart in a distress sale. The company’s valuation plummeted to around $100 million in the deal, down from its peak of $690 million. While the reasons behind this downfall may become clearer when the firm discloses its FY25 numbers, the company’s profit after tax (PAT) slipped 6% during the fiscal year ending March 2024. We will analyze the company’s expenses in detail in the second half of the story. For now, let’s focus on its revenue streams and their growth. Lendingkart’s revenue from operations increased by 36% to Rs 1,090 crore in FY24 from Rs 798 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Lendingkart is a non-banking finance company (NBFC) that provides working capital and business loans to SMEs across India. It offers loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSMEs and has disbursed over Rs 18,700 crore to more than 300,000 businesses. Revenue from co-lending was the primary contributor, accounting for 54% of the operating revenue, which surged by 88% to Rs 591 crore in FY24. Revenue from interest on term loans shrank by 2.86% to Rs 407.81 crore FY24, while commission income spiked 34X to Rs 22.58 crore in FY24. It also made Rs 69.15 crore from other operating activities. The company generated another Rs 127 crore in FY24 from non operating activities which took its total revenue to Rs 1,217 crore in FY24. On the expense side, finance cost was the major factor, which increased by 16.82% to Rs 293.53 crore in FY24. Employee benefit expenses grew by 75.70% to Rs 199 crore while legal charges increased 58.25% to Rs 125.62 crore FY24. Overall, the firm’s total expenses spiked 49.4% to Rs 1,022.7 crore in FY24 from Rs 684.4 crore in FY23. Note: The company recorded Rs 171.67 crore in FY24 and Rs 67.12 crore in FY23 under impairment losses, these amounts have been excluded from the expense or profit calculations. The rising expenses on employee benefits took a toll on Lendingkart's profit which slipped by 6% to Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23. Its ROCE and EBITDA margin stood at 23.33% and 44.39%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee in FY24. The Ahmedabad-based company reported Rs 768.5 crore in cash and bank balances and had a current asset of Rs 2,110 crore as of FY24. According to TheKredible, Lendingkart has raised a total of Rs 3,217 crore (approximately $452 million) in funding to date. Its leading investors include Temasek, Bertelsmann, Mayfield, and Saama Capital.

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

EntrackrEntrackr · 3m 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.

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