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CitiusTech’s profit balloons 6X to Rs 350 Cr in FY24

EntrackrEntrackr · 7m ago
CitiusTech’s profit balloons 6X to Rs 350 Cr in FY24
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Bain Capital Private Equity-backed healthcare technology and consulting platform CitiusTech reported flat revenue growth for the fiscal year ending March 2024. However, the Mumbai-based firm’s profit surged six-fold on the back of reduction in key expenses, including consulting charges. CitiusTech’s revenue increased by 1% to Rs 3,536 crore in the last fiscal year from Rs 3498 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies shows. CitiusTech is a healthcare technology services and solutions provider offering consulting, engineering, manufacturing, and data-oriented software to large hospitals and healthcare organizations. Its core business—software development, implementation, and support services—accounted for 98.8% of the operating revenue which grew by 2.49% to Rs 3,495 crore in FY24. However, revenue from the sale and maintenance of software licenses declined by 53% to Rs 38 crore. The firm also generated an additional Rs 15.7 crore from non-operating activities, which took its total revenue to Rs 3,551 crore in FY24. On the expense side, employee benefit expenses remained the largest cost driver, accounting for 75% of the expenses. This cost increased by 4.2% to Rs 2,226 crore in FY24 from Rs 2,137 crore in FY23. Depreciation expenses increased by 6.2% to Rs 136 crore, while consultancy charges decreased 7.53% to Rs 299 crore. Overall, CitiusTech’s total expenses rose 3.31% to Rs 2,968 crore in FY24 from Rs 2,873 crore in FY23. CitiusTech achieved a notable milestone as its profit after tax (PAT) spiked 6X to Rs 350.28 crore in FY24 from Rs 55.5 crore in FY23. Its ROCE and EBITDA margin stood at 37.67% and 20%, respectively. On a unit basis, the company spent Re 0.84 to earn a rupee in FY24. The company reported Rs 458 crore in cash and bank balances and had current assets of Rs 1232 crore as of FY24. CitiusTech’s bottomline growth might have impressed, but the topline stagnation will be a worry for the firm that had targeted $500 million (Rs 4100 crores then) as recently as Sep 2023. With a $1 billion target for FY28, the firm is expected to consider all possible avenues, including acquisitions to fund growth. Baring Private Equity acquired the firm for $955 million in 2022 after it had filed for an IPO in the US, which would seem to give it at least a couple more years to expand before Barings seeks an exit via an IPO possibly.

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Foxtale's revenue soars to Rs 83 Cr in FY24, losses widen

EntrackrEntrackr · 6m ago
Foxtale's revenue soars to Rs 83 Cr in FY24, losses widen
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, reported Rs 83 crore of revenue in its third full fiscal year, which ended in March 2024. However, in pursuit of scale, the losses for the Mumbai-based company crossed Rs 50 crore in the same period. Foxtale’s revenue from operations surged around 6X to Rs 83 crore in FY24 from Rs 14 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Founded in 2021 by Romita Mazumdar, Foxtale is an affordable skincare brand focused on products designed for Indian skin. Its products target issues such as acne, aging, and hyperpigmentation. The brand's products are available on its website and various marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. The sale of skin and beauty products was Foxtale's sole source of revenue in the previous fiscal year. Similar to other D2C skincare brands, Foxtale spent Rs 50 crore on advertising and promotion, which is 36% of its overall cost. This cost saw an increase of 3.8X during FY24. To the tune of scale, its cost of procurement grew 5.8X to Rs 35 crore in the previous fiscal. Foxtale's employee benefit expenses, including salaries, provident fund (PF), gratuity, and ESOPs, surged 2.8x to Rs 20 crore in FY24. Its delivery, legal, outsourcing manpower, and other overheads pushed the overall expenditure to Rs 139 crore in FY24 from Rs 33 crore in FY23. Despite registering 6x fold in scale, higher advertising expenses and employee benefit costs drove Foxtale's losses up by 189% to Rs 55 crore in FY24, compared to Rs 19 crore in FY23. On a unit level, it spent Rs 1.67 to earn a rupee of operating revenue. At the end of FY24, its current assets were recorded at Rs 69 crore, including cash and bank balances of Rs 44 crore. Foxtale has emerged as one of the few D2C startups to secure $48 million across two funding rounds in just seven months. Its latest $30 million round was spearheaded by Japanese beauty products giant, Kose Corporation. Its major competitors include Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several others.

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
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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.

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

EntrackrEntrackr · 1y ago
Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24
Medial

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. Nykaa’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 Fintrackr’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.

EaseMyTrip post Rs 161 Cr revenue and Rs 46 Cr profit in Q3 FY24

EntrackrEntrackr · 1y ago
EaseMyTrip post Rs 161 Cr revenue and Rs 46 Cr profit in Q3 FY24
Medial

Online travel aggregator (OTA) platform EaseMyTrip on Friday announced its financial results for the quarter ending December 2023 (Q3 FY24). The results show a decent growth in scale and a marginal decline in profit during the quarter. EaseMyTrip ’s revenue from operations increased 13.5% to Rs 160.8 crore in Q3 of FY24 from Rs 141.7 crore in the last quarter (Q2 FY24), as per its consolidated financial statements with the National Stock Exchange. When compared to the third quarter of the previous fiscal year (Q3 FY23), its revenue from operations rose 18.1% from Rs 136.1 crore. EaseMyTrip collected 78% of its revenue from air passage which grew 8% to Rs 125.7 crore during the quarter while revenue from hotel packages spiked 54% to Rs 20.9 crore. The remaining Rs 14.18 crore was generated via other operating services. Including non-operating income of Rs 4.52 crore, the company’s overall collection approached Rs 165.3 crore in Q3 FY24. On the expense side, employee benefits expenses accounted for 21% of the overall spendings which went up 18.5% to Rs 22.16 crore during the period. It spent Rs 16.47 crore on service costs which represent the cost of tour packages, bus and other services. The company also incurred advertising – promotion and payment gateway charges worth Rs 17.48 crore and Rs 12.95 crore in the quarter. In total, EaseMyTrip’s overall expenses rose 31.4% to Rs 105 crore in Q3 FY24 from Rs 79.9 crore during Q2 of the same fiscal year. When it comes to the bottom line, the company’s profits marginally decreased (3%) to Rs 45.68 crore in Q3 as compared to Rs 46.95 crore in Q2 of the same fiscal year. In Q3 FY23 (previous fiscal year), the company had posted Rs 41.7 crore profits. Whereas, the company’s profit before tax stood at Rs 60.26 crore. On a unit level, EaseMyTrip spent Re 0.65 to earn a rupee in Q3 FY24. For the nine months period (Apr-Dec 2024) of FY24, EaseMyTrip posted Rs 426.5 crore revenue from operations with a profit of Rs 118.5 crore. Listed in March 2021 at Rs 13 per share, EaseMyTrip saw its peak in November 2022 at Rs 66 per share. With nearly 300% growth, its current price is roaming around Rs 51 a piece with a market cap of over Rs 9,000 crore or $1 billion.

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

EntrackrEntrackr · 3m ago
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 India’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 India’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.

CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25

EntrackrEntrackr · 5m ago
CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25
Medial

CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25 CarTrade released its financial results for the third quarter of the ongoing fiscal year (Q3 FY25) on Wednesday. The company reported a 26% year-on-year revenue growth compared to Q3 FY24, with a major turnaround in its bottom line. CarTrade’s revenue from operations surged 26.6% to Rs 176 crore in Q3 FY25 in contrast to Rs 139 crore in Q3 FY24, as per the firm’s unaudited consolidated financial results sourced from the National Stock Exchange (NSE). The Mumbai-based company operates in three segments: Consumer, Remarketing, and Classifieds. Income from the consumer segment formed 39% of the total operating revenue which increased to Rs 68 crore in Q3 FY25 from Rs 50 crore in Q3 FY25. Income from the remarketing and classified segment stood at Rs 58 crore and Rs 50 crore in the third quarter of the ongoing fiscal year. CarTrade also added Rs 17 crore from other non-operating businesses which tallied its overall revenue to Rs 193 crore in Q3 FY25, compared to Rs 152 crore in Q3 FY24. On the expense front, employee benefits expenses formed 53% of the overall spending which went up a modest 7.3% to Rs 73 crore during the period. This cost also includes share-based expenses of Rs 3.36 crore. CarTrade’s overall expenses increased 12% to Rs 140 crore in Q3 FY24 from Rs 125 crore during Q3 FY24. The strong growth and controlled spending enabled CarTrade to achieve a turnaround and post a net profit of Rs 45.5 crore in Q3 FY25, compared to a loss of Rs 23.5 crore in Q3 FY24. However, the company had already recorded a revenue of Rs 472 crore and a net profit of Rs 99 crore during the nine months of the ongoing fiscal year. CarTrade recorded a 4.78% hike in its share price today and is trading at Rs 1,433.3 (as of 12:47) with a total market capitalization of Rs 6,789 crore or $800 million.

Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

EntrackrEntrackr · 7m ago
Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips
Medial

Temasek’s Fullerton recently acquired the troubled fintech firm Lendingkart in a distress sale. The company’s valuation plummeted to around $100 million in the deal, down from its peak of $690 million. While the reasons behind this downfall may become clearer when the firm discloses its FY25 numbers, the company’s profit after tax (PAT) slipped 6% during the fiscal year ending March 2024. We will analyze the company’s expenses in detail in the second half of the story. For now, let’s focus on its revenue streams and their growth. Lendingkart’s revenue from operations increased by 36% to Rs 1,090 crore in FY24 from Rs 798 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Lendingkart is a non-banking finance company (NBFC) that provides working capital and business loans to SMEs across India. It offers loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSMEs and has disbursed over Rs 18,700 crore to more than 300,000 businesses. Revenue from co-lending was the primary contributor, accounting for 54% of the operating revenue, which surged by 88% to Rs 591 crore in FY24. Revenue from interest on term loans shrank by 2.86% to Rs 407.81 crore FY24, while commission income spiked 34X to Rs 22.58 crore in FY24. It also made Rs 69.15 crore from other operating activities. The company generated another Rs 127 crore in FY24 from non operating activities which took its total revenue to Rs 1,217 crore in FY24. On the expense side, finance cost was the major factor, which increased by 16.82% to Rs 293.53 crore in FY24. Employee benefit expenses grew by 75.70% to Rs 199 crore while legal charges increased 58.25% to Rs 125.62 crore FY24. Overall, the firm’s total expenses spiked 49.4% to Rs 1,022.7 crore in FY24 from Rs 684.4 crore in FY23. Note: The company recorded Rs 171.67 crore in FY24 and Rs 67.12 crore in FY23 under impairment losses, these amounts have been excluded from the expense or profit calculations. The rising expenses on employee benefits took a toll on Lendingkart's profit which slipped by 6% to Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23. Its ROCE and EBITDA margin stood at 23.33% and 44.39%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee in FY24. The Ahmedabad-based company reported Rs 768.5 crore in cash and bank balances and had a current asset of Rs 2,110 crore as of FY24. According to TheKredible, Lendingkart has raised a total of Rs 3,217 crore (approximately $452 million) in funding to date. Its leading investors include Temasek, Bertelsmann, Mayfield, and Saama Capital.

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24

EntrackrEntrackr · 2m ago
NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
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NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24 Dialysis service provider NephroPlus reported a 29% year-on-year increase in operating revenue for the fiscal year ending March 2024. Significantly, the Hyderabad-based company turned profitable during the period, marking a notable recovery from a Rs 12 crore loss in FY23. NephroPlus’ operating revenue grew to Rs 566 crore in FY24 from Rs 438 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). NephroPlus runs over 275 dialysis centers in more than 170 cities in India and treats nearly 20,000 patients on a monthly basis. Revenue from these services accounted for 95% of the company’s income in FY24. On the expense side, the largest component of expenditure remained the cost of materials, which rose 19% to Rs 169 crore, accounting for over 31% of the total spend. Employee benefit expenses dropped slightly to Rs 91 crore from Rs 97 crore in FY23, while healthcare professional fees surged by 90% to Rs 59 crore. Hospital fees also increased to Rs 56 crore from Rs 48 crore, and other operational expenses climbed to Rs 166 crore. Overall, NephroPlus reported total costs rose 19.7% to Rs 541 crore in FY24. The strategic focus on cost discipline and improved margins helped NephroPlus post a net profit of Rs 35 crore in FY24, as compared to a net loss of Rs 12 crore a year earlier. Its ROCE and EBITDA margin improved to 9.40% and 18.96% respectively. On a unit basis, NephroPlus spent Rs 0.96 to earn a rupee of revenue in FY24. As of March 2024, the company reported current assets worth Rs 390 crore in FY24, out of which Rs 61 crore were in cash and bank balances. According to startup data intelligence platform TheKredible, NephroPlus has raised approximately $212 million in funding to date, having IFC and Besemer Venture Partners as its lead investors. The company’s co-founder and CEO Vikram Vuppala owns 11.6% of the company. Recently, NephroPlus acquired seven new dialysis clinics in the Philippines. The firm is also planning to start its clinics in Saudi Arabia later this year.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 2m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
Medial

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

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