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Bottomline: Saama Capital-backed Fisdom narrows loss, grows revenue in FY24

VCCircle

VCCircle · 1y ago

Bottomline: Saama Capital-backed Fisdom narrows loss, grows revenue in FY24

Fisdom, a technology financial services company backed by Saama Capital, PayU Fintech Investments, and others, has reported a narrower loss and increased revenue for the fiscal year ending March 2024. With a consolidated net loss of INR 57.4 crore, the company showcased positive growth despite a slower pace. Fisdom aims to provide innovative financial solutions through technology.

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Bottomline: CarDekho parent Girnar's revenue slips in FY24 but loss narrows too

VCCircle

VCCircle · 1y ago

Bottomline: CarDekho parent Girnar's revenue slips in FY24 but loss narrows too

CarDekho parent company, Girnar Software, experienced a slight decrease in revenue for FY24, but also managed to reduce its net loss. The Jaipur-based company's revenue dropped by 1.3% to Rs 2,300 crore from Rs 2,331.8 crore. Despite this decline, Girnar Software was able to narrow its net loss significantly.

Bottomline: PE-backed IndiQube comes within stone's throw of FY24 revenue target

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed IndiQube comes within stone's throw of FY24 revenue target

PE-backed flexible office space provider IndiQube is close to achieving its FY24 revenue target, recording a more than 40% increase in revenue from operations in the last fiscal year. The company, supported by WestBridge Capital, had considered a public listing and was in discussions with bankers. Founded by Rishi Das and Meghna Agarwal, IndiQube operates in the flexible office space sector.

Eruditus FY24 Ebitda loss narrows, founder cites focus on profitability

Economic Times

Economic Times · 7m ago

Eruditus FY24 Ebitda loss narrows, founder cites focus on profitability

Eruditus, the executive education startup backed by SoftBank, reported slower revenue growth of 12% to Rs 3,733 crore in FY24 but significantly reduced its operating loss to Rs 69 crore from Rs 417 crore in the previous year. Founder Ashwin Damera attributed this improvement to decreased marketing expenses and the pruning of less successful courses. The company aims for 15% growth in FY25, focusing on its enterprise and India businesses, which are expanding at 40% annually.

Tiger Global-Backed OkCredit Narrows FY25 Loss By 34% To INR 23 Cr

Inc42 · 24d ago

Tiger Global-Backed OkCredit Narrows FY25 Loss By 34% To INR 23 Cr

In FY25, OkCredit, a Bengaluru-based fintech startup backed by Tiger Global, reduced its net loss by 34% to INR 23.2 crore from INR 35.1 crore in FY24. The company achieved this through a significant increase in its top line and improved margins, with operating revenue rising 64% to INR 23.3 crore. OkCredit's total income grew to INR 25.2 crore, aided by other income climbing 32% to INR 1.9 crore.

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

VCCircle

VCCircle · 1y ago

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

Cube Highways Trust, the infrastructure investment trust (InvIT) backed by private equity firm I Squared Capital, generated a yield of slightly over 10% from its portfolio and saw toll revenue growth of nearly 12% in its first year of listing, FY24. The InvIT experienced consolidated performance across its portfolio of highways and road concessions in India.

CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows

Economic Times

Economic Times · 11m ago

CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows

Jaipur-based CarDekho Group reported an 11% YoY decline in net revenue at Rs 2,074 crore in fiscal 2024. However, after excluding income from discontinued used-car sales, the company reported a 54% growth in revenue from operations, reaching Rs 1,347 crore. CarDekho's net loss narrowed to Rs 340 crore in FY24. The company attributed its revenue growth to its insurance marketplace InsuranceDekho and fintech platform Rupyy. CarDekho also raised $80 million in growth capital and acquired shared mobility platform Revv. Competitors like Cars24 and Spinny also reported growth in operating revenue.

ZingHR turns profitable in FY25, revenue grows 21%

Entrackr

Entrackr · 14d ago

ZingHR turns profitable in FY25, revenue grows 21%

ZingHR turns profitable in FY25, revenue grows 21% Cloud-based HRtech firm ZingHR has continued its growth momentum and achieved profitability in FY25 from a loss of Rs 7 crore in the previous fiscal year. ZingHR’s revenue from operations grew 21% to Rs 150 crore in FY25 from Rs 124 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). ZingHR offers staffing and talent acquisition services across various sectors, including BFSI, retail, and IT. The company generates its revenue exclusively from the sale of subscription-based software. Zing HR’s employee benefits remained the largest cost component, accounting for 53% of total expenses. To the tune of scale, this cost remained stable at Rs 80 crore in FY25 as compared to Rs 81 crore in FY24. Among other major expenses, server and data security charges rose 42% to Rs 17 crore, while legal and professional fees nearly doubled to Rs 17 crore. Product maintenance charges grew 22% to Rs 11 crore, and rent expenses increased by 33% to Rs 4 crore. Overall, the company’s total expense rose 13% to Rs 150 crore in FY25 from Rs 133 crore in FY24. With the help of revenue growth, the company managed to achieve profitability. ZingHR posted a profit of Rs 1 crore in FY25 in contrast to a loss of Rs 7 crore in FY24. Its ROCE and EBITDA margin improved to 1.21% and 0.80% respectively. On a unit basis, ZingHR spent Re 1 to earn a rupee of revenue during the year, an improvement from Rs 1.07 in FY24. The company’s total assets grew to Rs 80 crore in FY25, from Rs 71 crore in the preceding year, while its current assets were valued at Rs 58 crore. Cash and bank balances stood at Rs 8 crore as of March 2025. ZingHR has raised $14 million in funding to date, with Tata Capital as its lead investor, holding a 35.82% stake. Competing in the same space as ZingHR, Darwinbox’s total revenue grew to Rs 534 crore in FY25 from Rs 334 crore in FY24 as 63% of the company’s revenue comes from international markets. The company’s adjusted net loss improved by 7% over FY24 in the same period.

Bottomline: Amicus-backed Berar Finance's loan book grows but bad debts weigh

VCCircle

VCCircle · 11m ago

Bottomline: Amicus-backed Berar Finance's loan book grows but bad debts weigh

Nagpur-based Berar Finance, backed by Amicus Capital, reported an increase in profits for the financial year ending March 2024. However, the growth was mainly driven by an expanding loan book, as the company continued to struggle with bad debts and asset quality issues.

Peak XV, Lightrock-backed Yubi's topline rises, net loss narrows

VCCircle

VCCircle · 1y ago

Peak XV, Lightrock-backed Yubi's topline rises, net loss narrows

Yubi (formerly known as CredAvenue), a financial services unicorn backed by investors including B Capital and Lightspeed, has seen a rise in revenue from operations and a narrowing of net losses. The company offers debt restructuring, credit assessment, and collections services to banks and fintech companies. Its revenue from operations increased by 47.6% to INR 483.7 crore in the financial year 2024, while its net loss decreased to INR 395.8 crore. Yubi supports over 17,000 enterprises and 6,200 investors and lenders through its credit marketplace.

LEAD Schools’ FY23 Loss Narrows 18.5% to INR 322 Cr

Inc42 · 2y ago

LEAD Schools’ FY23 Loss Narrows 18.5% to INR 322 Cr

Mumbai-based edtech startup LEAD School reported a net loss of INR 321.9 crore ($42.5 million) for the financial year 2022-23, an 18.5% decrease from the INR 395.3 crore loss it posted in the previous fiscal year. The company's operating revenue more than doubled to INR 273.1 crore from INR 132.3 crore. LEAD School, backed by WestBridge Capital, attributed the reduction in losses to cost-cutting measures, stating that it reduced its cash burn by 60-70% in FY23 compared to the previous year. Employee expenses continued to be the biggest expenditure for the startup, which laid off over 160 employees during the year.

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