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Bombay Shaving Company crosses Rs 200 Cr revenue in FY24; cuts losses by 22%

EntrackrEntrackr · 7m ago
Bombay Shaving Company crosses Rs 200 Cr revenue in FY24; cuts losses by 22%
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Bombay Shaving Company, a grooming and personal care brand, narrowed down its losses to Rs 62.15 crore in FY24, making a notable improvement from Rs 80.25 crore in FY23. Meanwhile, its operating scale also crossed the Rs 200 crore revenue mark in the last fiscal year. Bombay Shaving Company’s revenue from operations surged 27.38% to Rs 225.85 crore in FY24 from Rs 177.30 crore in FY23, its consolidated financial report sourced from the Registrar of Companies (RoC) shows. Bombay Shaving Company is a D2C grooming and personal care startup with a portfolio of a wide range of products including shaving cream, haircare, skincare, and beard care products. The sale of these products was the sole source of revenue for the company in the last fiscal year. The company made an additional Rs 7.6 crore from interest income which pushed its total revenue to Rs 233.4 crore in FY24. For the men's grooming brand, the cost of material was the largest component of BSC’s expenses, increasing by 34.39% to Rs 118.76 crore in FY24. The advertising and employee benefits costs rose marginally to Rs 85.90 crore and Rs 36.79 crore, respectively. Its delivery and handling charges declined by 9.41% to Rs 18.78 crore, respectively, while other expenses remained stable at Rs 35.34 crore. Overall, total expenses for Bombay Shaving Company increased to Rs 295.57 crore in FY24 from Rs 262 crore in FY23. The Gurugram-based Company managed to reduce its net loss by 22% to Rs 62.2 crore in FY24. Its ROCE and EBITDA margin stood at -74.66% and -22.90%, respectively. On a unit basis, the company spent Rs 1.31 to earn a rupee in FY24. The firm reported Rs 203 crore of current assets in FY24 including Rs 72.5 crore of cash and bank balance. According to TheKredible, Bombay Shaving Company has raised a total of $51.5 million in funding to date. Its lead investors include Sixth Sense Ventures, Colgate-Palmolive, Malabar Investments, Reckitt, and Patni & Family. Bombay Shaving Company competes with Ustraa, Beardo, and The Man Company in the grooming segment. Ustraa reported a 2.94% revenue decline to Rs 94.02 crore and a loss of Rs 50 crore in FY24. Meanwhile, Beardo’s revenue from operations rose to Rs 173.2 crore, and The Man Company saw a 58% increase in revenue, reaching Rs 182 crore.

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Glance crosses Rs 600 Cr revenue in FY24 with improved economics

EntrackrEntrackr · 7m ago
Glance crosses Rs 600 Cr revenue in FY24 with improved economics
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Consumer technology company Glance has demonstrated impressive financial performance over the past two fiscal years (FY23 and FY24) registering a 3.4X growth from Rs 178 crore or $22 million in FY22 to Rs 614 crore or $73.1 million during the fiscal year ending March 2024. Glance’s revenue from operations grew 89% year-on-year to Rs 614 crore in FY24 from Rs 325 crore in FY23, according to its consolidated financial statements filed by the group’s holding entity in Singapore. Launched in 2019, Glance which is part of InMobi's ecosystem, is known for its AI-powered smart lock screen platform that transforms the way users engage with their smartphones. It has a user base of over 300 million. It brings together other consumer platforms like Roposo (shoppertainment) and Nostra (gaming) Advertising services contributed 54.7% of total revenue, growing by 35.7% to Rs 336 crore in FY24 from Rs 248 crore in FY23. Revenue from the commerce (shoppertainment) segment stood at Rs 254 crore. Glance also earned Rs 15.9 crore from financial income (interest) which tallied the overall revenue to Rs 640 crore in FY24. Like many technology startups, employee benefits were the largest cost driver for Glance, accounting for 28.28% of its total expenses. This cost saw a marginal increase, rising to Rs 444 crore in FY24 from Rs 424 crore in FY23. It includes Rs 71.4 crore as ESOP cost. Glance’s shipping, marketing/selling, and infrastructure costs stood at Rs 200 crore, Rs 436 crore and Rs 201 crore, respectively. Software, publisher, legal, and travel are some other overheads that took the overall burn to Rs 1,569 crore in FY24 from Rs 1,448 crore in FY23. The decent scale and controlled expenditure helped Glance to reduce its losses by 15% to Rs 929 crore in FY24 from Rs 1,094 crore in FY23. Notably, this marks the first fiscal year in which the company narrowed losses. Its ROCE and EBITDA margin stood at -1191% and 134.9% respectively. On a unit level, it spent Rs 2.55 to earn a rupee in FY24. Glace has raised around $390 million and was valued at $1.6 billion in its last round of $200 million led by the Jio Platform in 2022. According to the startup data intelligence platform TheKredible, Jio Platform is the largest external stakeholder with 20.27% followed by Google which owns 10.13%. Its parent company InMobi commands 50.45% of the company. Glance’s current assets stood at Rs 428 crore. As per the Fintrackr estimates, its enterprise value to revenue multiple was 21.8X.

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 6m ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
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Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses

EntrackrEntrackr · 4m ago
Progcap crosses Rs 150 Cr revenue in FY24, cuts losses
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Progcap crosses Rs 150 Cr revenue in FY24, cuts losses Peak XV and Tiger Global-backed fintech firm Progcap has scaled more than 5X in the last two fiscal years, from Rs 26 crore in FY22 to Rs 139 crore in FY24. The firm also managed to reduce its losses in the same period. Progcap’s revenue from operations nearly doubled to Rs 139 crore in FY24 from Rs 71 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Progcap facilitates debt capital for underserved micro and small businesses. The fintech platform digitizes supply chains and facilitates access to finance for last mile retailers. Revenue from these services was the sole source of income for the company. Progcap made an additional Rs 20 crore from interest on deposits and gains on current investments which pushed its total income to Rs 159 crore in FY24 from Rs 102 crore in FY23. On the expense side, employee benefit costs remained the largest expenditure, accounting for 61% of the total expense, to the tune of scale. This cost grew by 15% to Rs 124 crore in FY24. The firm’s finance costs surged sharply to Rs 22.5 crore from just Rs 1 crore in FY23. Other major expenses included collection deficiency charges (Rs 9.5 crore), travel expenses (Rs 6 crore), and miscellaneous costs. Overall, the company’s total expenses grew by 36% to Rs 203 crore in FY24 from Rs 149 crore in the preceding fiscal year. Progcap managed to cut its losses by 6% to Rs 46 crore in FY24 from Rs 49 crore in FY23. Its ROCE and EBITDA Margin improved to -2.96% and -11.32% respectively. On a unit basis, the company spent Rs 1.46 to earn a rupee of operating revenue in FY24. The Delhi-based firm reported current assets worth Rs 1,321 crore which include Rs 163 crore of cash and bank balance in FY24. According to TheKredible, Progcap has raised a total of approx $112 million in funding to date, having Tiger Global, Peak XV, Creation Investments, and GrowX Ventures as its lead investors. Progcap’s co-founders, Pallavi Shrivastava and Himanshu Chandra, collectively hold a 23.41% stake in the company.

Livspace revenue crosses Rs 1,200 Cr in FY24; losses shrink by 48%

EntrackrEntrackr · 10m ago
Livspace revenue crosses Rs 1,200 Cr in FY24; losses shrink by 48%
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After an 85% year-on-year growth in FY23, omnichannel home interior and renovation platform Livspace saw a modest 14.78% growth in scale during the fiscal year ending March 2024. The Singapore-headquartered firm, however, kept its losses in check during the same period. Livspace’s revenue from operations increased to Rs 1,185.7 crore (SGD 192.48 million) in FY24 from Rs 1,033 (SGD 167.7 million) crore in FY23, according to its group company’s consolidated annual financial statements in Singapore. Livspace allows homeowners to discover pre-designed rooms, kitchens, and storage areas on its platform. Revenue from its interior projects biz formed 94% of the overall revenue which increased 16.5% to Rs 1,110.65 crore in FY24 from Rs 953.32 crore in FY23. The Bengaluru-based company generated additional revenue of Rs 69 crore from the sale of products and allied contractual services in FY24. It also added Rs 48.4 crore in income, mainly from interest on fixed deposits, bringing the total income to Rs 1,234 crore in FY24, up from Rs 1,058 crore in FY23. For the home interior brand, the cost of sales, including project materials, inventories, and materials consumed, accounted for 35.6% of the overall expenditure. Despite a 14% surge, this cost remained steady at Rs 586.8 crore in FY24. Its employee benefits decreased by 16.1% to Rs 579 crore in FY24, which includes Rs 124 crore in ESOP expenses. Marketing, rent, brokerage, and technology expenses contributed to an overall expenditure of Rs 1,647.8 crore (SGD 267.5 million) in FY24, down from Rs 1,861.6 crore (SGD 302.2 million) in FY23. FY23-FY24 FY23 FY24 EBITDA Margin -69% -27% Expense/₹ of Op Revenue ₹1.80 ₹1.39 ROCE -98% -79.5% Modest growth in scale, along with controlled spending on employee benefits and marketing, helped Livspace reduce its losses by 48.48% to Rs 413.8 crore (SGD 67.1 million) in FY24, down from Rs 803.3 crore (SGD 130.4 million) in FY23. Its ROCE and EBITDA margins improved to -79.5% and -27%, respectively. On a unit level, Livspace spent Rs 1.39 to earn a rupee in FY24. Livspace is all set to shift its domicile to India from Singapore and the firm has also received approval from its board, according to the company’s founder Ramakant Sharma. It has plans to go public in the next 18-24 months. The company, for all its all out efforts to reduce losses without giving up on growth faces a tough challenge to sustain these efforts. More often than not, there is a point where cost cuts become counter productive, or worse make you wonder what you were doing with them in the first place. Livspace is on course to discover either of those two realities soon. *Currency converted from Indian rupees to Singapore dollars: SGD 1 = 61.6 rupees.

Bakingo crosses Rs 200 Cr revenue in FY24 with marginal losses

EntrackrEntrackr · 6m ago
Bakingo crosses Rs 200 Cr revenue in FY24 with marginal losses
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Fintrackr All Stories Bakingo crosses Rs 200 Cr revenue in FY24 with marginal losses Online bakery brand Bakingo recorded a 43% year-on-year growth during the last fiscal year ending March 2024. However, in pursuit of expansion, the losses for the Gurugram-based company increased marginally in the same period. Bakingo’s revenue from operations grew by 43% to Rs 208.7 crore in FY24, compared to Rs 145.7 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Founded by Himanshu Chawla, Shrey Sehgal, and Suman Patra, Bakingo offers a variety of cakes and desserts, including its signature Cheesecake, Gourmet Cakes, Jar Cakes, and over 100 SKUs. The sale of these products was the only source of revenue for Bakingo. For the bakery firm, the cost of product procurement accounted for 42.2% of its overall expenditure. To the tune of scale, this cost increased 43% to Rs 90 crore in FY24. Its employee benefit grew by 40% to Rs 31.6 crore, while advertising expenses rose by 38% to Rs 27.7 crore. Platform commission fees also saw a jump of 65% to Rs 26.2 crore. Overall, Bakingo’s total expenses rose by 46% to Rs 213.8 crore in FY24 from Rs 146.3 crore in FY23. The surge in employee benefits, advertising, and procurement costs outpaced the revenue growth, resulting in its losses to increase to Rs 5.3 crore in FY24. Its ROCE and EBITDA margin stood at -6.05% and -0.98% respectively. Bakingo’s expense-to-revenue ratio was recorded at Rs 1.02 with total current assets of Rs 96.5 crore during FY24. Bakingo has raised $16 million (Rs 130 crore) to date, which was its maiden round led by Faering Capital last year at a valuation of Rs 571 crore. According to Fintrackr’s estimates, its enterprise value to revenue multiple stood at 2.7X. The growth in the last year seems to be an outcome of being able to optimise operations to a higher level. In a discretionary category with very high competition, we believe Bakingo still has work to do on the brand, quality perception and distribution to keep growing. For now, it seems to be simply a branded offering for those looking to buy from one, rather than the neighborhood shop or bakery. Signature offerings, better word of mouth, and perhaps even packaging are all gaps that need work.

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

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

Info Edge-backed Truemeds' gross revenue crosses Rs 300 Cr in FY24

EntrackrEntrackr · 5m ago
Info Edge-backed Truemeds' gross revenue crosses Rs 300 Cr in FY24
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Telehealth platform Truemeds saw rapid growth, surpassing Rs 300 crore in gross revenue for the fiscal year ending March 2024. The Mumbai-based company also reduced its losses by 9% during the same period. Truemeds’ gross revenue surged 2X to Rs 315 crore in FY24 from Rs 154 crore in FY23, according to its annual financial statements filed with the Registrar of Companies (RoC). Founded by Akshat Nayyar and Kunal Wani, the startup enables consumers to discover alternative brand medicines by uploading their prescriptions. Revenue from medicine and medical device sales accounted for 98.4% of the total operating income, which surged 102% to Rs 310 crore in FY24. Income from shipping and packaging stood at Rs 1.7 crore and Rs 2.8 crore respectively. The company also added Rs 10 crore from interest on deposits which tallied its overall income to Rs 325 crore in FY24 from Rs 161 crore in FY23. As a telehealth platform, the cost of procuring medicines and devices accounted for 67.8% of the total expenditure. With increasing scale, this cost rose by 96% to Rs 262 crore in FY24. Employee benefits also grew by 75% to Rs 42 crore in FY24. Its advertising, rent, information technology, legal, and other overheads took the overall cost up by 74.7% to Rs 386 crore in FY24 from Rs 221 crore in FY23. The two-fold growth and controlled expenditure helped Truemeds to reduce its losses by 9% to Rs 61 crore in FY24, compared to Rs 67 crore in FY23. On a unit level, it spent Rs 1.23 to earn a rupee in FY24. Truemeds’ ROCE and EBITDA margin improved to -27.6% and -18.15% respectively. At the end of FY24, its total current assets stood at Rs 253 crore with cash and bank balances of Rs 155 crore. Truemeds has secured over $27 million in funding to date, including a $22 million Series B round led by WestBridge Capital in 2022. As per startup data intelligence platform TheKredible, Info Edge is the largest external stakeholder, holding a 25.25% stake in the company. PharmEasy, Tata 1mg, Netmeds, and Apollo 247 are among Truemeds' direct competitors. An easy to use interface, and a real demand for reducing medical costs has provided a strong opening for many firms in the space.

IntrCity crosses Rs 320 Cr income in FY24, nears break-even

EntrackrEntrackr · 6m ago
IntrCity crosses Rs 320 Cr income in FY24, nears break-even
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Travel-tech platform IntrCity, which owns SmartBus and RailYatri, could not replicate its FY23 growth momentum in FY24. After achieving six-fold growth in FY23, the company recorded a modest 16% year-on-year revenue increase for the fiscal year ending March 2024. However, the Nandan Nilekani family trust-backed firm reduced its losses by over 52%, bringing them below Rs 10 crore in FY24. IntrCity's revenue from operations grew 15.9% to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23, as per the company's consolidated financial statements with the Registrar of Companies. IntrCity operates web and mobile platforms for its brands, SmartBus and RailYatri. The flagship brand, IntrCity SmartBus, caters to long-distance bus routes across India, while RailYatri offers train travel services such as ticket booking and meal ordering. As per the filings, the majority of commission revenue came from the Indian Railway Catering and Tourism Corporation (IRCTC) during FY24. The company collected 93.8% of the revenue from bus operations which went up 16.9% to Rs 297.71 crore in FY24. It also earned Rs 18.08 crore from commission along with Rs 1.55 crore via advertisement services. Additionally, collection from interest and gain on financial assets (non-operating revenue) stood at Rs 3.38 crore. Including this, the company's overall revenue climbed to Rs 320.7 crore in FY24. On the expense side, the cost of revenue (direct cost for the distribution of services) accounted for 68.3% of the total expenditure. This cost grew 14.2% to Rs 225.8 crore in FY24 from Rs 197.8 crore in FY23. Operation and maintenance costs went up 9.3% to Rs 43.5 crore while spending on employee benefits remained almost flat at Rs 36.85 crore during the last fiscal year. The company incurred Rs 7.42 crore on advertisement and promotions and paid Rs 3.9 crore commission for catering and payment gateway services. In the end, IntrCity's expenses increased 9.7% to Rs 330.6 crore during FY24 in comparison to Rs 301.3 crore during FY23. On the back of controlled expenditure and double-digit growth in revenues, the firm managed to bring down its losses by 53.7% to Rs 9.9 crore in FY24. The losses were at Rs 21.4 crore in the previous fiscal year. Operating cash outflows of IntrCity also improved by 69.8% during the period and stood at Rs 6.1 crore. As of the last fiscal year, the firm's outstanding losses stood at Rs 242.5 crore. During FY24, the travel-tech platform managed to improve its EBITDA margin by 459 BPS to -2.08%. On a unit level, IntrCity spent Rs 1.04 to earn an operating revenue during the said period. IntrCity has Rs 17.4 crore in cash and bank balances while its total assets stood at Rs 41.2 crore for the fiscal year ended March 2024. As per the startup data intelligent platform TheKredible, IntrCity has raised over $50 million to date and was valued at around Rs 912 crore or $110 million in the latest funding round in February this year. Among online travel aggregator (OTA) platforms, MakeMyTrip is the largest player in terms of revenue. Ixigo, EaseMyTrip, Yatra, and Cleartrip are also the key players in the segment.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

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