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This 19 year old has a net worth of Rs. 32000 Cr+
Livemint
·
1y ago
Medial
19-year-old Clemente Del Vecchio has made international headlines as the youngest billionaire on Forbes' list. Inheriting a 12.5% stake in his father's holding company, Delfin, Clemente is worth approximately $4 billion. He focuses on his studies and personal interests, expressing a passion for science and technology. Despite his substantial wealth, Clemente keeps a low profile and does not directly involve himself in his father's businesses. His family's fortune originates from the leadership of his late father, Leonardo Del Vecchio, who was the former chairman of EssilorLuxottica.
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Zunroof spent Rs 60 Cr to make Rs 30 Cr in FY23
Entrackr
·
1y ago
Medial
Rooftop solar startups faced a slowdown in funding after a flurry of activity in 2016-19. ZunRoof, a six-year-old player in this sector, saw its revenue dip by 36% in FY22. However, in FY23, its revenue from operations increased by 15.5% to Rs 29.85 crore. ZunRoof focuses on rooftop solar solutions, leveraging AI for efficiency and diversifying into 'smart home' products. Despite investments, its losses grew by 10.2% to Rs 29.48 crore in FY23, impacted by high costs. ZunRoof competes in a market estimated to have a 200 GW potential for rooftop solar in India.
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NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
Entrackr
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3m ago
Medial
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.
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Elevation Capital sells Rs 226 crore worth shares in Ixigo parent Le Travenues Technology - The Economic Times
Economic Times
·
15d ago
Medial
Elevation Capital sold Rs 226 crore worth of shares in Ixigo's parent, Le Travenues Technology, reducing its stake to 6.45%. Schroder International Selection Fund acquired these shares, now holding a 5% stake. Previously, Elevation sold 53.9 lakh shares for Rs 97.4 crore and 21.5 lakh shares for Rs 38.27 crore. The firm's operating revenue grew 73% in a year, with Ixigo reporting a net profit increase of 27% to Rs 19 crore.
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Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24
Entrackr
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8m ago
Medial
Dezerv, a company backed by Premji Invest, reported a revenue of Rs 26.25 crore and a loss of Rs 74.53 crore for the fiscal year ending March 2024. The revenue grew by 160% compared to the previous year, while losses increased by 95.1%. The total income for the year was Rs 26.33 crore, with significant expenses in employee costs (Rs 63.34 crore), marketing (Rs 18.48 crore), legal (Rs 4.13 crore), and miscellaneous expenses (Rs 14.89 crore), totaling Rs 100.84 crore. The company’s ROCE was -64.9% and EBITDA margin was -267.45%. Dezerv had cash and bank balances of Rs 100 crore and current assets worth Rs 122 crore. In FY23, the company had a revenue of Rs 10.22 crore and a loss of Rs 38.20 crore. The company raised $60 million in funding, with investors including Premji Invest, Elevation Capital, Matrix, and Accel. Dezerv targets high net-worth individuals (HNIs) with an investment threshold ranging from Rs 15 lakhs to several crore rupees, focusing on portfolio management services for working professionals.
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External audit uncovers Rs 1,979 cr discrepancy in IndusInd Bank derivatives portfolio
Business Today
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3m ago
Medial
IndusInd Bank has discovered a discrepancy of Rs 1,979 crore in its derivatives portfolio due to an external audit, impacting the bank's net worth. This lapse is set to be reflected in the fiscal year 2025 financial results. The bank is addressing the issue to ensure financial accuracy and stability, emphasizing its commitment to resolving the matter and safeguarding stakeholders' interests. The incident highlights challenges in managing complex financial instruments.
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Mark Zuckerberg Net Worth: Meta CEO adds maximum wealth, gets richer by ₹6.2 lakh crore in 2024 | Mint
Livemint
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10m ago
Medial
- Mark Zuckerberg's net worth has increased by $74.7 billion in 2024, making him the world's third-richest person with a net worth of $203 billion. - Jensen Huang, CEO of NVIDIA, has seen his net worth grow by $60 billion this year, making him the 14th-richest person globally with a net worth of $104 billion. - Oracle CTO Larry Ellison's net worth has increased by $57 billion in 2024, making him the fifth-richest person in the world with a net worth of $180 billion. - Elon Musk's net worth has grown by $33 billion this year, placing him fourth on the list of Year to Date growth in wealth. - Mark Zuckerberg sees Meta as a technology company that will continue to focus on building the underlying technology platform rather than just being an app company. He aims for Meta to create impressive innovations and push the industry and world in different directions.
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FIIs net buyers worth Rs 4,022 crore, DIIs net sell shares worth Rs 1,651 crore
Money Control
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1y ago
Medial
Foreign institutional investors (FIIs) have purchased shares worth Rs 1.4 lakh crore, while domestic institutional investors (DIIs) have bought shares worth Rs 2.41 lakh crore so far this year. On July 12, DIIs were net sellers of shares worth Rs 1,651 crore, while FIIs were net buyers of shares worth Rs 4,022 crore. The Sensex closed at 80,519.34, up 622.00 points, or 0.78 percent, with the Nifty 50 closing at 24,502.20, up 186.20 points, or 0.77 percent. The IT index saw the biggest gains, while the realty and power indices fell.
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Zerodha Capital clocks Rs 12.5 Cr profit in FY25
Entrackr
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2m ago
Medial
Zerodha Capital clocks Rs 12.5 Cr profit in FY25 Zerodha Capital, the lending arm of stockbroker Zerodha, posted a net profit of Rs 12.5 crore in the previous fiscal year ending March 2025 from Rs 7.2 crore in FY24. According to an ET report, the firm doubled its income to Rs 36 crore in FY25 from Rs 17 crore in FY24. As per ICRA, this rise in profit was driven by a 3.2X jump in its loan book, which grew to Rs 381 crore in the first nine months of the last fiscal year or 9M FY25. Zerodha Capital provides loans to retail investors by using their stocks or mutual funds as collateral. It runs with a small team and uses the strength of Zerodha’s broking business, which has 81 lakh (8.1 million) active clients on NSE—about 16% of the market. The platform uses this wide customer base to offer loans of up to Rs 1 crore by taking shares or mutual funds as security, lending up to 45% of their value. Most of this is done through digital platforms. Zerodha Capital’s net worth stood at Rs 170 crore with a gearing ratio of 1.4X as of December 2024, which means the company had Rs 1.40 in debt for every Rs 1.00 of its own equity, according to the ICRA. The promoter group is also planning to infuse Rs 125 crore via compulsorily convertible preference shares to support future growth. Notably, Zerodha Capital has nil NPAs since its inception. ICRA has kept Zerodha Capital’s credit rating steady at AA- (Stable)/A1+ and gave the same high rating to its new Rs 100 crore short-term borrowing plan. While ICRA pointed out that the company is still small and relies on a limited set of lenders, it was reassured by Zerodha Capital’s strong backing from the Zerodha Group and its careful approach to lending. Founded in 2021, Zerodha Capital aims to deepen its credit play within the securities ecosystem. However, its future performance remains tethered to market sentiment and regulatory shifts, especially as retail F&O activity—the group’s mainstay—faces tightening norms. Zerodha Capital’s parent company, Zerodha Broking Limited, has reported a net profit of Rs 5,496 crore in FY24, with a return on net worth of 56% during the same period.
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Peak XV invests $35 Mn in wealth and asset management firm Neo
Entrackr
·
1y ago
Medial
Wealth and asset management firm Neo has secured a $35 million growth investment from Peak XV Partners. The funds will be used to enhance Neo's wealth management business, expand its asset management franchise, and bring in new talent. Neo serves a wide range of clients, including high-net-worth individuals, ultra-high-net-worth individuals, and global institutions. With over $3 billion in assets under advisement, the two-year-old company has established itself as a significant player in the industry.
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Google, SoftBank's former executive Nikesh Arora becomes billionaire
Money Control
·
1y ago
Medial
Nikesh Arora, the 55-year-old former senior executive at Google and former President of SoftBank Group, has become a billionaire, Bloomberg reported. Arora's stake in US-based cybersecurity company Palo Alto Networks, where he's currently the CEO, is now worth $830 million. Combined with pay awards he secured earlier in his career, Arora's net worth stands at $1.5 billion.
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