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Chaayos earned INR 239 Cr in FY23 by catering to India’s chai and snack cravings

Inc42 · 1y ago

Chaayos earned INR 239 Cr in FY23 by catering to India’s chai and snack cravings

Chaayos, a Delhi NCR-based tea-cafe chain, experienced a 77% increase in operating revenue to INR 239 Cr in FY23 compared to INR 135 Cr in FY22. The startup's total revenue, including other income, reached INR 253.4 Cr in FY23, an 81% surge from INR 140.1 Cr in FY22. However, Chaayos also reported a higher net loss of INR 96 Cr in FY23, up from INR 71 Cr in FY22. The startup's total expenditure rose by 65% to INR 348.9 Cr, driven by increased procurement costs, employee benefit expenses, and rent costs for its over 200 cafe outlets. Chaayos has secured funding from investors like Tiger Global and Alpha Wave.

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Coliving startup Isthara’s FY23 loss surges 54% to INR 30.5 Cr

Inc42 · 1y ago

Coliving startup Isthara’s FY23 loss surges 54% to INR 30.5 Cr

Coliving startup Isthara reported a 54% increase in net loss to INR 30.5 Cr in FY23 due to higher cash burn. However, its operating revenue surged by 161% to INR 67.5 Cr during the same period. The company aims to double the turnover of its food court segment in FY24 to boost revenue. Isthara offers coliving spaces and cafeteria services, managing over 24K beds across India. It earned the highest revenue from student housing and catering services in FY23. The total expenditure of Isthara increased by 119% to INR 100.2 Cr in FY23.

Chaayos’ Loss Halves To INR 54 Cr In FY24

Inc42 · 7m ago

Chaayos’ Loss Halves To INR 54 Cr In FY24

Chaayos witnessed a significant improvement in its financial performance during FY24. The company managed to halve its loss to INR 54 crore, while its operating revenue increased modestly by 4.89% to reach INR 248.6 crore. Additionally, Chaayos successfully reduced its total expenditure by 3.69% to INR 352.2 crore. Notably, the company achieved a positive EBITDA of INR 28.3 crore, compared to an EBITDA loss of INR 22.1 crore in the previous fiscal year.

Chai Point crosses Rs 200 Cr revenue in FY23; losses slow

Entrackr

Entrackr · 1y ago

Chai Point crosses Rs 200 Cr revenue in FY23; losses slow

Bengaluru-based tea and beverage company Chai Point has achieved revenue of over Rs 200 crore in FY23, with a YoY growth of 89%. The company's losses have also reduced by 17%. Chai Point primarily generates revenue from the sale of teas, snacks, and other beverages through its physical stores and online ordering platforms. It currently operates over 180 stores across major Indian cities. The cost of procurement was its largest expense, and employee benefits saw a 19.2% increase. Chai Point's losses decreased to Rs 70 crore in FY23, and its EBITDA margin stood at -18.9%.

Chaayos posts Rs 237 Cr revenue in FY23; losses spike 34%

Entrackr

Entrackr · 1y ago

Chaayos posts Rs 237 Cr revenue in FY23; losses spike 34%

Chaayos, a tea cafe chain backed by Tiger Global, reported a 75.6% growth in revenue from operations, crossing the Rs 230 crore mark in FY23. The company's revenue increased from Rs 135 crore in FY22 to Rs 237 crore in FY23. However, Chaayos also experienced a 33.8% increase in losses during the same period. The company has 200 cafes across the country and aims to expand to 400 cafes in the near future. The cost of material consumed and employee benefit expenses accounted for a significant portion of the company's expenditures.

Go Digit FY24: PAT Jumps Over 5X To INR 182 Cr, GWP At INR 9,016 Cr

Inc42 · 1y ago

Go Digit FY24: PAT Jumps Over 5X To INR 182 Cr, GWP At INR 9,016 Cr

Go Digit, an Indian general insurance company, reported a 24.5% year-on-year increase in total gross written premium (GWP) to INR 9,016 Cr in FY24. Net earned premium for the fiscal year was INR 7,096 Cr, up from INR 5,164 Cr in FY23. The company's assets under management as of March 31, 2024, reached INR 15,764 Cr.

McCain India crosses Rs 1,200 Cr revenue in FY24; profit shrinks 29%

Entrackr

Entrackr · 4m ago

McCain India crosses Rs 1,200 Cr revenue in FY24; profit shrinks 29%

McCain India’s revenue from operations increased by a modest 3% YoY growth to Rs 1,214 crore in FY24, as per its standalone financial statements sourced from the Registrar of Companies (RoC). Among fried snack brands in India, McCain is a major player. The brand has expanded its portfolio to include a range of options, with revenues surpassing Rs 1,200 crore in FY24. Revenue from operations was Rs 1,172 crore in FY23. Income from the sale of its fried products was the sole revenue for McCain. It sells its products through retail, foodservice partnerships, and digital channels such as BlinkIt, Swiggy Instamart, and Zepto. The company also added Rs 31 crore, mainly from interest on deposits, resulting in an overall revenue of Rs 1245 crore in FY24, compared to Rs 1189 crore in FY23. Material procurement remained the largest cost driver, accounting for 43.8% of total expenses, rising to Rs 493 crore in FY24. Employee benefit expenses grew by 19%, reaching Rs 100 crore in FY23. Advertising cost surged by 63% to Rs 88 crore in FY24. Total expenditure was Rs 1,125 crore in FY24, up from Rs 1,020 crore in FY23. Net profits reduced by 29.4% to Rs 89 crore in FY24, compared to Rs 126 crore in FY23. Its ROCE and EBITDA margin stood at 15.28% and 4.58% respectively. It spent Rs 0.93 per rupee earned in FY24.

Founder Salaries Tracker FY23: Amid The Funding Winter, How Much Did Startup Founders Earn?

Inc42 · 1y ago

Founder Salaries Tracker FY23: Amid The Funding Winter, How Much Did Startup Founders Earn?

Inc42 has launched the 'Founder Salaries FY23 Tracker' to keep readers informed about the remunerations earned by the founders of new-age tech companies in India. In the financial year 2022-23, 98 founders of 57 tech companies took home INR 496 crore in salaries. The average founder salary rose by 68%, from INR 3.07 crore in FY22 to INR 5.16 crore in FY23. The tracker provides information on the remuneration earned by founders, the percentage increase/decrease from the previous year, and other relevant details. Some notable examples include the founders of FirstCry, Zerodha, OYO, Gameskraft, Purplle, Nazara Technologies, and Paytm.

Pepperfry’s FY23 loss narrows marginally to INR 188 Cr, sales up by 10%

Inc42 · 1y ago

Pepperfry’s FY23 loss narrows marginally to INR 188 Cr, sales up by 10%

Pepperfry, an ecommerce furniture startup, has reported a minor decrease in its net loss for the financial year ended March 31, 2023. The company's net loss narrowed by 3% to INR 187.6 crore in FY23, compared to INR 194 crore in the previous fiscal year. Despite the decrease in net loss, Pepperfry's operating revenue increased by 10% to INR 272.3 crore, with its primary source of revenue being the commission earned from connecting customers with merchants on its platform. The startup has been preparing for its upcoming IPO.

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Inc42 · 10m ago

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Indian startup OPEN, backed by Temasek, saw a 30% decrease in net loss for FY24, down to INR 170 Cr. The total expenditure also dropped 34% to INR 194.6 Cr. However, OPEN spent INR 7.84 for every rupee earned from operations in FY24.

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Inc42 · 1y ago

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Flipkart Internet Private Limited, the B2C arm of Walmart-owned Flipkart, saw its operating revenue reach around INR 15,000 Cr in FY23. The operating revenue of Flipkart Internet increased by 42% to INR 14,845.8 Cr in FY23 from INR 10,477.4 Cr in FY22. The company managed to reduce its net loss by 9% to INR 4,026.5 Cr in FY23 from INR 4,419.5 Cr in FY22. Flipkart's total expenditure in FY23 was around INR 19,043 Cr, which included employee benefits, transportation costs, and advertising expenses.

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