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BillDeskโ€™s growth slows in FY24; PAT drops to Rs 121 Cr

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BillDeskโ€™s growth slows in FY24; PAT drops to Rs 121 Cr
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BillDeskโ€™s revenue from operations decreased to Rs 2,334 crore during the fiscal year ending March 2024 from Rs 2678 crore in FY23, as per the companyโ€™s consolidated financial statements with the Registrar of Companies. BillDesk makes money by charging fees for processing and settling electronic transactions, which contributed over 70% of its total operating revenue of Rs 1,591 crore in FY24. Around 16% of its earnings came from managing loyalty programs for clients, while the remainder was generated through the sale of products such as PINS and e-top-up subscriptions, along with other operating activities. Billdesk earned Rs 112 crore in non-operating income from interest and gains on financial assets. Its total revenue stood at Rs 2,446 crore in FY24, down from Rs 2,765 crore in FY23. For the payment company, bank fees and services had been the largest cost center, accounting for 78.8% of the overall expenditure. In line with the drop in scale, this cost declined by 16% to Rs 1,804 crore in FY24. Despite the reduced scale, employee benefit expenses rose by 22.4% to Rs 300 crore. Spending on data, communication, legal, and information technology pushed the companyโ€™s total expenses to Rs 2,289 crore during the fiscal year. The decline in scale, coupled with higher employee expenses, led BillDesk to report a 14.8% drop in profit to Rs 121 crore in FY24 from Rs 142 crore in FY23. Its Return on Capital Employed (ROCE) and EBITDA margins also dipped slightly, settling at 5.77% and 9.24%, respectively. On a per-unit basis, the company spent Rs 0.98 to earn every rupee during the year. By the end of FY24, BillDesk's total current assets stood at Rs 2,612 crore, which included Rs 930 crore in cash and bank balances.

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Rebel Foods growth slows in FY25, reports Rs 336 Cr loss

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Rebel Foods growth slows in FY25, reports Rs 336 Cr loss
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url: https://entrackr.com/fintrackr/rebel-foods-growth-slows-in-fy25-reports-rs-336-cr-loss-10884067 Content: Cloud kitchen company Rebel Foods has been witnessing modest growth over the past couple of fiscal years. The Pune-based firm recorded a meagre 14% year-on-year rise in revenue during the fiscal year ending March 2025, while its losses declined by roughly the same proportion. Rebel Foodsโ€™ revenue from operations grew to Rs 1,617 crore in FY25 from Rs 1,420 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Rebel Foods operates brands like Faasos, The Biryani Life, Lunch Box, Over Story, The Good Bowl, Behrouz and others. The company derives the bulk of its revenue from the sale of food products, which accounted for 97% of operating revenue, climbing to Rs 1,565 crore in FY25. Income from services rose 6.5% to Rs 33 crore in FY25 from Rs 31 crore in FY24. Including non-operating revenue of Rs 41 crore, Rebel Foodsโ€™ total income stood at Rs 1,658 crore in the last fiscal year. The cost of materials was its largest expense, which grew 11% to Rs 678.5 crore in FY25 from Rs 613 crore in FY24, forming 34% of total expenses. Employee benefit expenses saw a marginal decline of 2% to Rs 388 crore, while advertising costs increased 14% to Rs 153 crore. Brokerage and commission expenses were up 6% to Rs 243 crore. Overall, the firmโ€™s total costs rose 7% year-on-year to Rs 1,987 crore in FY25. With the help of revenue outpacing the companyโ€™s expenses, Rebel Foods managed to control its loss by nearly 12% to Rs 336 crore in FY25. Its ROCE and EBITDA margin improved to -35.93% and -10.39% respectively. On a unit level, Rebel Foods spent Rs 1.23 to earn a rupee of revenue in FY25, improving from Rs 1.31 in FY24. The company held cash and bank balances of Rs 56 crore at the end of March 2025, while its current assets stood at Rs 597 crore in the same period. According to startup data intelligence platform TheKredible, Rebel Foods has raised nearly $803 million of funding till date, having Peak XV Partners, Coatue, QIA and Lightbox as its lead investors. The continuing losses on moderating growth does not augur well for Rebel Foods, seen as a survivor from the pandemic shock to many cloud kitchen startups. Its travails reflect the bigger issues confronting Barbecue Nation or other listed firms in the category, with only Dominoโ€™s showing the resilience to keep growing profitably. We donโ€™t see the situation improving significantly in the near future for the firm, which could portend significant restructuring and other changes to control costs further.

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25

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Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25
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Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25 Auxiloโ€™s revenue from operations grew 48.3% to Rs 528 crore in FY25, up from Rs 356 crore in FY24, as per its annual financial statements sourced from the Registrar of Companies. After doubling its revenue in FY24, education-focused non-banking financial company (NBFC) Auxilo has delivered another strong performance in FY25, going past Rs 500 crore in revenue and posting over Rs 100 crore in profit after tax (PAT). The Mumbai-based NBFC provides education loans to students pursuing higher studies in India and abroad. Its offerings cover the complete cost of education, including tuition fees, pre-visa expenses, travel, and other related costs. Interest income formed the bulk of its business, contributing 90.5% of total operating revenue, which grew 49.4% to Rs 478 crore in FY25. Fees, commissions, and other operating income collectively stood at Rs 50 crore during the year. Including other income of Rs 16 crore, Auxiloโ€™s total revenue reached Rs 544 crore in FY25. On the expenditure side, interest costs accounted for 71.5% of total expenses, rising in line with disbursements to Rs 282 crore in FY25. Employee benefits were recorded at Rs 56 crore, while overall costs increased to Rs 394 crore in FY25, compared to Rs 275 crore in FY24. The companyโ€™s controlled cost structure supported profitability, leading to a 62.3% jump in PAT to Rs 112 crore in FY25, against Rs 69 crore in FY24. Auxiloโ€™s expense-to-revenue ratio also improved to 0.75 in FY25. Earlier this year, Auxilo raised Rs 50 crore from Motilal Oswal. Since its inception, it has secured over $100 million across equity and debt. The company competes with other well-funded education-financing players such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz.

Zomatoโ€™s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%

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Zomatoโ€™s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%
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Zomatoโ€™s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%. Zomatoโ€™s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24, as per the firmโ€™s consolidated financial results sourced from the National Stock Exchange (NSE). Despite strong revenue growth following steady expansion, the Gurugram-based company reported a sharp 78% decline in profit for the quarter ending March 2025. Eternalโ€™s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24. With this, Eternalโ€™s overall revenue for the fiscal year ending March 2025 jumped 67% to Rs 20,243 crore from Rs 12,114 crore in FY24. Eternal operates several business units, including a food marketplace, Hyperpure, and quick commerce platform BlinkIt. Income from Eternalโ€™s food delivery business contributed 35% of the total revenue in Q4 FY25, growing 18% to Rs 2,054 crore from Rs 1,739 crore in Q4 FY24. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 93% to Rs 1,840 crore and 122% to Rs 1,709 crore, respectively, during the last quarter of FY25. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Groupโ€™s total revenue to Rs 6,201 crore in Q4 FY25. Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,552 crore in Q4 FY25. Employee benefit cost rose 89% to Rs 1632 crore, while spending on advertising and marketing increased by 63% to Rs 634 crore in FY24. Overall, the companyโ€™s overall expenditure increased by 68% to Rs 6,104 crore in Q4 FY25, up from Rs 3,636 crore in Q3 FY25. An increase in current tax expenses to Rs 74 crore led to a 78% drop in the companyโ€™s profit after tax, which fell to Rs 39 crore in Q4 FY25 from Rs 175 crore in Q4 FY24. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025.

Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%

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Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%
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Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88% E-commerce marketplace Snapdeal delivered steady financial results in FY24 as its revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24. The companyโ€™s cost-reduction measures led to its adjusted EBITDA loss dropping by 88% from Rs 144 crore in FY23 to Rs 16 crore in FY24. It also improved its operating cash flows during the last fiscal year. Snapdealโ€™s revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24 from Rs 371.96 crore in FY23, according to its consolidated financial statements filed with the RoC. Snapdealโ€™s primary revenue streams include marketing services, e-commerce enablement, and other ancillary sources. Marketing services continued to be the largest contributor, generating Rs 252.55 crore, though it witnessed a dip of 9.6% compared to FY23. Its enablement revenue increased by 14.8% to Rs 103.36 crore, reflecting the platformโ€™s growing traction among value-focused sellers. Additionally, revenue from other sources surged over 8X to Rs 23.85 crore in FY24. Snapdealโ€™s strategic focus on targeted cost-reduction initiatives led to significant expense savings across multiple categories. The companyโ€™s spending on employee benefits reduced by 48.5% to Rs 158.4 crore in FY24 from Rs 307.53 crore in FY23. Promotional costs were also reduced by 23.5% to Rs 70.37 crore during the same period. Overall, the Gurugram-based firmโ€™s total expenditure dropped by 21.4% to Rs 540.76 crore in FY24 from Rs 687.93 crore in FY23. The companyโ€™s improved performance was visible in the 43.2% reduction of loss to Rs 160.38 crore in FY24. Further, most of this loss seems to be on account of non-cash heads, including the revaluation of a put option held by Unicommerce investors to the tune of Rs 110 crore, leading to an adjusted EBITDA loss of Rs 16 crore, which shows that the company is nearing its target of reaching profitability. As per the filings, Snapdeal reduced its stake in Unicommerce, generating Rs 33 crore from a secondary sale of 3.4% stakes in May/June 2024 prior to the IPO and an offer for sale of 9.2% stake for Rs 81 crore in the IPO completed in August 2024.

Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT

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Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT
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Online travel aggregator (OTA) Ixigoโ€™s revenue from operations grew 26% to Rs 206.47 crore in Q2 FY25 as compared to the same quarter of FY24. The growth was steered by the flight and bus segment. The flight gross transaction value grew by 43% YoY, while the bus GTV increased by 46%. The companyโ€™s contribution margin also improved by 24% to Rs 91.08 crore in Q2 FY25, compared to Rs 73.67 crore in Q2 FY24, the company said in a stock exchange filing. However, the contribution margin as a percentage of revenue from operations slightly decreased from 45% in Q2 FY24 to 44% in Q2 FY25. The Gurugram-based company generated the majority (53.5%) of its operating revenue from train ticketing amounting to Rs 110.4 crore in Q1 FY25. Flight and bus booking services contributed 27% and 19.3% to the companyโ€™s coffers, respectively. The firmโ€™s operating expenses rose in Q2 FY25, reflecting increased investments in growth. Employee expenses and marketing costs contributed to this spike, which was necessary to support the companyโ€™s expansion in user acquisition and market penetration. Despite the rise in costs, EBITDA saw a sharp increase of 655%, reaching Rs 22.4 crore in Q2 FY25, compared to Rs 2.96 crore in Q2 FY24. Adjusted EBITDA also jumped 326% to Rs 20.99 crore in Q2 FY25. Ixigo profit after tax (PAT) declined by 51%, from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25. This decline was primarily due to a deferred tax charge of Rs 5.26 crore in Q2 FY25.

Neobank Open's FY24 revenue drops to Rs 25 Cr, outstanding losses cross Rs 1,800 Cr

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Neobank Open's FY24 revenue drops to Rs 25 Cr, outstanding losses cross Rs 1,800 Cr
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Like many of its peers, neo-banking platform Open appears to be struggling to generate substantial revenue, as indicated by its shrinking scale. Despite a 25% rise in scale in FY23, the Bengaluru-based companyโ€™s scale slipped 17% in the fiscal year ending March 2024. Openโ€™s revenue from operations declined to Rs 24.81 crore during FY24 as compared to Rs 29.9 crore in FY23, according to the companyโ€™s annual financial statement with the Registrar of Companies (RoC). The platform also accrued Rs 21.3 crore via interest and gains on current investments (non-operating revenue) which brought its overall revenue to Rs 46.11 crore during the year. This non-operating income played a significant role in bolstering the companyโ€™s total revenue amidst challenges in its core business operations. Neo-bank unicorn Open has made Rs 100 Cr approximately from its operations since its inception in 2017, while its outstanding losses stood at Rs 1,831 Cr at the end of the last fiscal year (FY24). The company is primarily engaged in developing digital business payment solutions that provide businesses with a fully digital current account and a host of other integrated business-enabling tools in relation to finance, accounting, and credit, each in partnership with banking and lending partners. As per its website, Open has over 3.5 million clients and claims to process annual transactions worth more than $35 billion. Moving towards the expense side, employee benefits turned out to be the largest cost contributing nearly 60% of the overall expenses. This cost shrank 21.6% to Rs 117.08 crore in FY24 from Rs 149.25 in FY23. Importantly, this cost also includes expenses on the employee stock option plan (ESOP) of Rs 37 crore in FY24. Spends on IT and payment gateway were another major cost during the year which decreased 13.2% to Rs 25.34 crore whereas advertising & promotions slipped 84.7% to Rs 8.85 crore in FY24 against Rs 57.67 crore in FY23. Visit TheKredible for more details. The companyโ€™s total expenditure was reduced by 34.4%, bringing it down to Rs 194.65 crore during the year. Following the cost-cutting measures, Open narrowed its losses by 30% to Rs 169.68 crore in FY24 in contrast to Rs 242.2 crore in FY23. Furthermore, operating cash outflows improved by 55.4%, reducing to Rs 91.57 crore in FY24. While these numbers indicate improvement, it appears this is primarily driven by the slowing operational efficiency of the company, rather than growth in core business performance. FY23-FY24 FY23 FY24 EBITDA Margin -396.97% -264.50% Expense/โ‚น of Op Revenue โ‚น9.92 โ‚น7.85 ROCE -50.01% -45.61% Overall, Openโ€™s outstanding losses stood at around Rs 1,831 crore at the end of FY24. The EBITDA margin and ROCE stood at -264.50% and -45.61% during the year. On a unit level, the Bengaluru-based company spent Rs 7.85 to earn a rupee in the last fiscal year. In 2022, Open got approval for a payment aggregator license from the Reserve Bank of India. The platform achieved unicorn status after raising $50 million in a funding round led by IIFL, with contributions from Tiger Global, in May 2022. As per TheKredible, Open has raised around $190 million funding to date. While the companyโ€™s losses are still high, the company is eyeing to turn profitable by the end of 2025. It competes with Jupiter, Razorpay X, and Niyo among a few others. Neo Banks in India have faced a predictable set of issues, not least of which is limited differentiation vis a vis private sector banks that have already joined their selling skills in a highly competitive market. Add to that the regulatory uncertainty around their operations, and almost all Neo banks, it is safe to predict, are well below what they considered par numbers in their projections during the pre-covid period when most were set up. Open faces the same set of challenges, and the sharp cost cuts seem to indicate a firm preparing for a siege, rather than growing anytime soon, notwithstanding claims to become profitable next financial year.

Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT

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Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT
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Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT Gameskraft has consistently reported net profits of around Rs 1,000 crore over the past three fiscal years. Despite encountering various legal challenges, the Bengaluru-based company achieved a 30% year-on-year growth in the fiscal year ending March 2024. Gameskraftโ€™s revenue from operations grew to Rs 3,475 crore in FY24 from Rs 2,673 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Gameskraft operates popular gaming apps such as Rummy Culture, Playship, Pocket 52, RummyPrime, Ludo Culture, and Rummy Time. Its revenue (gross gaming revenue) comes from a platform fee or commission charged as a percentage of the buy-in fees users invest in games. This remained its sole revenue source during FY24. The company also made Rs 46 crore from interest on fixed deposits and gain on sale of current investments which tallied its overall revenue to Rs 3,521 crore in FY24 from Rs 2,732 crore in FY23. Similar to other gaming companies, Gameskraft has over a dozen brand ambassadors, including Harbhajan Singh, Mahesh Bhupathi, and Abhinav Bindra, and has run several campaigns on social media and TV. This pushed its advertising costs up by 113% to Rs 1,315 crore in FY24 from Rs 616 crore in FY23. Gameskraft employee benefits grew 23.5% to Rs 463 crore in FY24. This includes Rs 12 crore as ESOP cost which is settled in cash. Its legal, communication, domain, web hosting, and other overheads took the overall cost up by 71.7% to Rs 2232 crore in FY24 from Rs 1300 crore in FY23. The more than two-fold increase in advertising costs outpaced Gameskraft's revenue growth, causing its profits to drop by 10.8% to Rs 947 crore in FY24 from Rs 1,062 crore in FY23. Its ROCE and EBITDA margin stood at 69.4% and 37.46% respectively with an expense-to-earning ratio of Rs 0.64. At the end of FY24, Gameskraft's total current assets were recorded at Rs 1,680 crore with the cash and bank balance of Rs 306 crore. In the real-money gaming sector, MPL reported a 22.2% increase in revenue from operations to Rs 1,068 crore in FY24, while also achieving positive cash flow during the year. Gameberry saw a 46.9% growth in revenue to Rs 461.7 crore, with a 150% surge in profit to Rs 92.8 crore in the same period. Meanwhile, major competitors such as Dream11 and A23 have yet to release their financial results for FY24.

Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24

EntrackrEntrackr ยท 1y ago
Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24
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Online fashion and beauty commerce platform Nykaa showcased a 24.1% growth in scale during the fiscal year ending March 2024. The profit after tax (PAT) for the Falguni Nayar-led firm also rose 90.5% to Rs 40 crore in the same period. Nykaaโ€™s revenue from operations grew 24.1% to Rs 6,386 crore in FY24 from Rs 5,144 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. Nykaa On a sequential basis, the firm posted a 6.8% decrease in revenue to Rs 1,668 crore in Q4 FY24 from Rs 1,789 crore in Q3 FY24. The sale of beauty, personal care, fashion and other products and services through various platforms was the sole source of revenue for Nykaa. The firm has 14 subsidiaries and one associate named Earth Rhythm. It also made Rs 30 crore from interest and gain on the financial assets, tallying the total income to Rs 6,416 crore in FY24. For the fashion and beauty commerce platform, the cost of procurement formed 57.4% of the overall expenditure. In line with the scale, this cost grew 27.3% to Rs 3,647 crore in FY24. Its employee benefits, finance, depreciation, legal, advertising cum promotional, conveyance, and other overheads took the overall expenditure up by 23.6% to Rs 6,346 crore in FY24. The 24% scale and prudent cost mechanism helped Nykaa post a 90.5% increase in profit to Rs 40 crore in FY24 from Rs 21 crore in FY23. Its ROCE and EBITDA margins stood at 5% and 1.6%, respectively. On a unit level, Nykaa spent Rs 0.99 to earn a rupee in FY24. Nykaa Just ahead of quarterly and FY24 financial results, Nykaa announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme. As per Fintrackrโ€™s estimates, the newly added ESOP options were worth around Rs 7 crore. Nykaa is currently trading at Rs 179.2 as of (22nd May at 5.08 pm) with a market cap of Rs 51,171 crore.

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon Indiaโ€™s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon Indiaโ€™s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

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