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

EntrackrEntrackr · 4m 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.

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Qure.ai’s losses widen 87% to Rs 90 Cr in FY25

EntrackrEntrackr · 1m ago
Qure.ai’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.ai’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 company’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.ai’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.ai’s total costs rose 39% to Rs 279 crore in FY25 from Rs 201 crore in FY24. Due to the company’s cost outpacing revenue growth, Qure.ai’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 company’s founder and CEO Prashant Warier owns 3.55% of the company.

Exclusive: BigBasket secures Rs 200 Cr debt

EntrackrEntrackr · 16d ago
Exclusive: BigBasket secures Rs 200 Cr debt
Medial

Exclusive: BigBasket secures Rs 200 Cr debt BigBasket’s consumer-facing arm, Innovative Retail, has secured Rs 200 crore (approximately $22.7 million) in debt funding from DBS Bank Ltd. This is its first major capital injection in nearly three years, after the $200 million round led by Tata Digital in December 2022. According to its filing with the Registrar of Companies (RoC), the board of Innovative Retail Pvt Ltd (BigBasket’s B2C arm) has allotted 20,000 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise the above-stated amount. The aforementioned debentures are issued for a tenure of 18 months and a coupon rate of 8.2% per annum, the filing added. The filing added that the proceeds from the debt raise will be used to set up and maintain dark stores, along with other general corporate purposes. Founded in 2011, BigBasket operates an inventory-led online grocery model, managing its own dark stores and delivery network while offering a wide range of products, including private labels. In August 2024, BigBasket fully pivoted to quick commerce, making 10-minute delivery its primary focus. According to startup data platform TheKredible, the company has raised over a billion dollars in funding to date from major investors such as Mirae Asset, British International Investments, and Bessemer Venture Partners. Tata Digital acquired BigBasket in May 2021. On the financial front, BigBasket’s (B2C) losses widened to Rs 1,850 crore in the fiscal year ended March 2025 while its revenue remained flat at Rs 7,673 crore during the period.

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

EntrackrEntrackr · 2m ago
Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%
Medial

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37% Flipkart Internet, the B2B arm of Walmart-owned Flipkart, reported a 14% year-on-year rise in revenue, crossing the Rs 20,000 crore mark in the fiscal year ending March 2025. The Bengaluru-based firm also reduced its losses by 37%, bringing them below Rs 1,500 crore during the same period. Flipkart Internet’s revenue from operations increased to Rs 20,493 crore in FY25, from Rs 17,907 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Flipkart’s revenue is driven by marketplace, logistics, and advertising services. Income from marketplace services more than doubled to Rs 7,751 crore in FY25 from Rs 3,734 crore in FY24, contributing 38% to operating revenue. Advertising income surged 27% to Rs 6,317 crore, making up 31% of the topline. However, revenue from logistics services declined by 38% to Rs 4,224 crore, reducing its share to 21%. The firm made an additional Rs 314 crore from non-operating sources, which pushed its total revenue to Rs 20,807 crore in the last fiscal year (FY25). On the cost side, the largest cost head remained logistics service charges, which increased 9% to Rs 7,144 crore, accounting for 32% of total expenses. Employee benefit expenses declined 8% to Rs 4,748 crore, while marketing costs rose sharply by 37% to Rs 4,100 crore, making up 18% of overall costs. Collection charges stood at Rs 2,693 crore (12.1% of expenses) and legal/professional fees at Rs 1,394 crore. Overall, Flipkart Internet’s total expenses grew 8% to Rs 22,311 crore in FY25 from Rs 20,627 crore in FY24. Flipkart Internet managed to cut its losses by 37% to Rs 1,494 crore in FY25, from Rs 2,359 crore in FY24. Its EBITDA losses narrowed to Rs 1,078 crore in FY25 from Rs 1,869 crore in FY24, with the EBITDA margin improving from -10.25% to -5.18%. On a unit level, Flipkart spent Rs 1.09 to earn a rupee in FY25, better than Rs 1.15 in FY24. The company’s current assets stood at Rs 11,952 crore, while cash and bank balances rose to Rs 187 crore.

Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines

EntrackrEntrackr · 10m ago
Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines
Medial

url: https://entrackr.com/news/ola-electric-losses-surge-50-to-rs-564-cr-in-q3-fy25-revenue-declines-8698803. Content: Ola Electric reported its Q3 FY25 results on Friday, showing a 19.4% year-on-year decline in revenue. At the same time, the company's losses grew by 50%, highlighting a challenging quarter for the SoftBank-backed electric mobility firm. Ola Electric’s revenue from operations decreased to Rs 1,045 crore in Q3 FY25 from Rs 1,296 crore in Q3 FY24, its unaudited consolidated financial statements sourced from the National Stock Exchange show. Income from the sale of electric scooters was the sole source of revenue for Ola Electric while the collection from the sale of batteries contributed only a small portion in the third quarter of the ongoing fiscal year. For the EV scooter manufacturer, the cost of procurement of materials accounted for 56% of the total cost which stood at Rs 851 crore in Q3 FY24. Employee benefits, advertising, and technical support were some other cost centers, taking the total burn to Rs 1,505 crore in Q3 FY25. A decline in sales and fixed costs caused Ola Electric's losses to rise by 50% in Q3 FY25, reaching Rs 564 crore compared to Rs 376 crore in the same quarter of the previous fiscal year (Q3 FY24). In January, Ola Electric regained its top spot in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share with 24,330 units sold, according to Vahan data. TVS Motors followed in second place, selling 23,788 units, while Bajaj Auto claimed a 21.80% market share with 21,294 units sold.

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

EntrackrEntrackr · 1m 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. Wakefit’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 company’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 Wakefit’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, Wakefit’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.

Healthians posts Rs 263 Cr revenue in FY25; nears breakeven

EntrackrEntrackr · 12d ago
Healthians posts Rs 263 Cr revenue in FY25; nears breakeven
Medial

Healthians posts Rs 263 Cr revenue in FY25; nears breakeven Healthians didn't manage notable growth in the fiscal year ending March 2025. However, the WestBridge-backed company narrowed its losses by 89% year on year and neared break-even during the same period. The firm’s operating revenue increased 8% year-on-year to Rs 263 crore in FY25, up from Rs 243 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Including non-operating income of Rs 7 crore, the company’s total income grew 7% to Rs 270 crore during the year. Cost optimisation played a key role in supporting the company’s financial recovery. Total expenses declined 8% to Rs 275 crore in FY25, compared to Rs 298 crore last year. Among the major cost heads, employee benefits, the largest expense category, dropped 13% year-on-year to Rs 104 crore in FY25 from Rs 120 crore in FY24. Cost of materials contracted 7% to Rs 54 crore. Advertising costs rose 10% to Rs 43 crore. Meanwhile, depreciation and finance costs remained stable at Rs 29 crore and Rs 15 crore, respectively. The improvement in revenue and control of key expenses helped Healthians bring down its losses sharply by 89% to Rs 5 crore in FY25 from Rs 45 crore in FY24. The firm posted positive EBITDA of Rs 32 crore in FY25 with EBITDA margin of 12.17%. Its ROCE stood at 2.73% in the same period. On a unit basis, the company spent Rs 1.05 to earn a rupee of operating revenue in FY25. The firm’s current assets increased slightly to Rs 170 crore including cash and bank balances worth Rs 49 crore in the fiscal. According to startup data intelligence platform TheKredible, Healthians has raised a total of $75 million of funding till date, having WestBridge, BEENEXT, DG Ventures and Youwecan as its lead investors. The company’s founder and CEO, Deepak Sahni owns 6.5% of the company.

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