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CRED reports Rs 2,735 Cr revenue in FY25; operating losses fall 51%

EntrackrEntrackr · 1d ago
CRED reports Rs 2,735 Cr revenue in FY25; operating losses fall 51%
Medial

CRED reports Rs 2,735 Cr revenue in FY25; operating losses fall 51% Fintech unicorn CRED reported an operating revenue of Rs 2,735 crore in FY25, a 16% year-on-year increase. At the same time, its operating losses declined 51% to Rs 298 crore in FY25, according to the firm’s press release. CRED’s gross margins stood at around 70% during the year. Despite improvement at the operating level, CRED remained loss-making on a net basis. Its total losses narrowed 11.5% year-on-year to Rs 1,457 crore, which includes non-operating expenses such as ESOPs and depreciation. According to the release, its monthly transacting users (MTUs) rose 14.5% to 1.26 crore, while transaction frequency increased 34% to 14.4 transactions per user per month. Total payment value processed on the platform grew 23% year-on-year to Rs 8.5 lakh crore. Monetisation improved during the year as users adopted multiple products on the platform. Around 45% of active members used three or more products, resulting in average revenue per user (ARPU) of approximately Rs 2,000, the press release added. Lending remained a key revenue contributor in FY25, with managed AUM reaching Rs 22,000 crore. During the year, CRED expanded its portfolio across payments, lending, and personal finance, launching products such as CRED Money, credit score and card management tools, PPI wallet, and CRED Cash+. Its insurance marketplace, CRED Garage, added more insurers, aiding insurance revenue growth. According to TheKredible, CRED has raised more than $1 billion across nine funding rounds, including a $72 million down round led by GIC in May 2025 that cut its valuation to $3.64 billion from $6.4 billion in 2022. As per the company, it’s eyeing full profitability in FY26.

Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue

EntrackrEntrackr · 2m ago
Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue
Medial

Smartworks cuts losses by 81% in Q2 FY26; posts Rs 425 Cr revenue Managed office space provider Smartworks has posted its quarterly results for the second quarter of the ongoing fiscal year. The firm recorded a sharp 81% cut in losses during Q2 FY26 alongside double-digit revenue growth. Smartworks’ revenue from operations rose 21% year-on-year to Rs 425 crore in the quarter ending September 2025 from Rs 350 crore in Q2 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Smartworks generated most of its revenue from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 16 crore from non-operating activities, pushing total income to Rs 441 crore in the quarter, compared to Rs 361 crore in Q2FY25. On a half-yearly basis, revenue was up nearly 21% to Rs 804 crore in H1 FY26 from Rs 664 crore in H1 FY25. On the cost front, depreciation remained the largest expense at Rs 198 crore, followed by operating expenses of Rs 122 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 445 crore, compared to Rs 382 crore in the same quarter last year. The decent growth in scale and cost control mechanisms helped the firm narrow its net loss to Rs 3 crore in Q2 FY26 from Rs 16 crore a year ago. For the six months ended September 2025, its losses were down by 82% to Rs 7 crore in H1 FY26 from Rs 39 crore in H1 FY25. Smartworks listed on the NSE earlier this year at Rs 435 per share, a 7% premium to its IPO price of Rs 407. The stock closed today at Rs 596, valuing the company at Rs 6,818 crore (approximately $769 million). Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 595. Awfis posted Rs 355 crore in revenue and Rs 10 crore in net profit in Q1 FY26. The company is yet to file its return for the second quarter.

Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%

EntrackrEntrackr · 4m ago
Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%
Medial

Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24% Hector Beverages Pvt Ltd, maker of Paper Boat drinks, saw steady growth in FY25, with a 16% year-on-year rise in operating scale and a 24% reduction in losses to under Rs 50 crore. Hector Beverages Pvt Ltd, maker of Paper Boat drinks, pursued steady growth in the fiscal year ending March 2025. The company recorded a modest 16% year-on-year increase in operating scale in the last fiscal year, while narrowing its losses by 24% to below Rs 50 crore. Paper Boat’s operating revenue rose to Rs 668.28 crore in FY25 from Rs 574.48 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) shows. Founded by former Coca-Cola executives Neeraj Kakkar and Niraj Biyani, Paperboat offers packaged juices, coconut water, traditional Indian snacks, and dry fruits. Products traded through third-party manufacturers contributed 66% of its operating revenue. Collection from this spiked 45% to Rs 441.43 crore in FY25 from Rs 304.32 crore in FY24. In contrast, revenue from its own manufactured products, which made up 33.78% of the total, declined 16% to Rs 225.72 crore during the fiscal year. Paper Boat also earned a non-operating income of Rs 14.2 crore, mainly from interest on bank deposits, taking its total income to Rs 682.44 crore. On the expense side, the cost of materials remained the largest component, which accounted for 62% of total expenses at Rs 444 crore in FY25. Employee benefit expenses rose 32% to Rs 90.35 crore, while selling and distribution costs stood at Rs 58.47 crore, and depreciation, travel, and other overheads pushed overall expenses to Rs 716.53 crore. The Peak XV-backed company cut its losses by 24% to Rs 48.25 crore in FY25, with ROCE at -14% and EBITDA margin at -3.86%. On a unit basis, it spent Rs 1.07 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 276.17 crore, including cash and bank balances of Rs 42.39 crore. According to startup data intelligence platform TheKredible, Paperboat has raised $143 million to date from investors including GIC, Peak XV, Sofina Ventures, and A91 Partners. GIC holds a 25% stake in the company, while Sofina and Peak XV each own over 18%.

Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25

EntrackrEntrackr · 1y ago
Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
Medial

Fintech firm Paytm announced its financial results for the third quarter of the current fiscal year (Q3 FY25) on Monday. The Noida-based company reported revenue of Rs 1,828 crore and a net loss of Rs 208 crore for the period. According to Paytm’s unaudited consolidated quarterly report filed with the National Stock Exchange, its revenue from operations declined by 35.9% year-on-year from Rs 2,850 crore in Q3 FY24 to Rs 1,828 crore in Q3 FY25. However, on a quarter-on-quarter basis, the firm recorded a 10% increase in revenue compared to Q2 FY25 (the preceding quarter). Income from payment service revenue accounted for 55% of the total operating revenue which stood at Rs 1,003 crore in Q3 FY25 while the revenue from financial and marketing services were recorded at Rs 502 crore and Rs 267 crore in the same period. The company also added Rs 189 crore from other non-operating sources, bringing its overall revenue to Rs 2016.5 crore in Q3 FY25. For the fintech firm, its employee benefits remained the largest cost center accounting for 34% of the overall cost which decreased by 36% to Rs 756 crore in Q3 FY25. This includes Rs 182 crore as ESOP cost (non-cash). Its payment processing charges and marketing costs were reduced by 42% and 48.7% to Rs 570 crore and Rs 141 crore respectively in Q3 FY25 from Rs 982 crore and Rs 275 crore in Q3 FY24. Software, communication, legal, cashback, and other overheads took the total expenditure to Rs 2,220 crore in Q3 FY25 from Rs 3,216 crore in Q3 FY24. A reduction across all overhead departments enabled Paytm to narrow its losses by 6.3% to Rs 208 crore in Q3 FY25 from Rs 222 crore in Q3 FY24.

Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income

EntrackrEntrackr · 4m ago
Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income
Medial

Unacademy’s total revenue decreased 16% year on year to Rs 826.3 crore in FY25, compared to Rs 988 crore in FY24, according to the internal document reviewed by Entrackr. Despite the year-on-year decrease in total revenue, edtech unicorn Unacademy managed to reduce its EBITDA losses by 37.6% year-on-year in the fiscal year ending March 2025. Moreover, the SoftBank-backed firm also reduced its net losses by 31% year-on-year to Rs 436 crore in FY25. The firm’s EBITDA loss was Rs 305 crore, down from Rs 489 crore in FY24, a 38% reduction due to cost optimization measures. As of March 2025, Unacademy had a cash and cash equivalent balance of Rs 1,238 crore. Recently, Unacademy elevated Sumit Jain, co-founder and head of its Graphy subsidiary, as CEO of its flagship Test Prep business.

Medibuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37%

EntrackrEntrackr · 1m ago
Medibuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37%
Medial

MediBuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37% Following more than 2X growth in the fiscal year ending March 2024, digital healthcare platform MediBuddy reported modest growth in its operating scale in FY25, while managing to narrow its losses by 37% during the period. MediBuddy's operating revenue grew 12.3% year-on-year to Rs 724.6 crore in FY25 from Rs 645.4 crore in the previous fiscal year (FY24), according to the company's annual financial statements filed with the Registrar of Companies (RoC). MediBuddy, a digital healthcare platform, provides online and offline medical consultations, medicine delivery, lab tests, surgeries, and insurance services, with revenue from these forming the primary source of income at Rs 722 crore, supplemented by Rs 2.5 crore from other operating sources. The company also earned Rs 18.42 crore from non-operating sources, including interest on fixed deposits and current investments, written-off liabilities, and other miscellaneous income, pushing its total income to Rs 743 crore in FY25. On expenses, the cost of materials was the largest at 38% of total expenses, standing at Rs 333 crore. Employee benefits expenses rose marginally by 8% to Rs 176.8 crore, including Rs 6 crore in ESOP expenses. Sales payout expenses, including commissions to selling agents, fell 7% to Rs 155.47 crore. The company spent Rs 42.5 crore on safety and security and Rs 32.5 crore on IT. Other overheads, including legal and professional fees, advertising, depreciation and amortization, and finance costs, amounted to Rs 138.7 crore. Overall expenses for the Bengaluru-based firm remained flat at Rs 879 crore, with controlled expenditure and a 12% rise in revenue helping to narrow losses by 37% to Rs 137 crore from Rs 215.7 crore in FY24. On a unit basis, MediBuddy spent Rs 1.21 to earn one rupee of operating revenue, with its EBITDA margin improving to -14.19% in FY25 from -25.67% in the previous year, resulting in an EBITDA loss of Rs 103 crore. As of March 2024, MediBuddy's current assets were Rs 395.2 crore, including cash and bank balances of Rs 80 crore. MediBuddy has raised over $190 million to date, last raising $18 million in August 2023 from existing investors Quadria Capital, Lightrock, and TEAMFund. It competes with companies including Pristyn Care-owned Lybrate, Practo, and mFine Tata 1mg.

VLCC-owned Ustraa’s revenue declines to Rs 73 Cr in FY25; losses cut by 72%

EntrackrEntrackr · 1m ago
VLCC-owned Ustraa’s revenue declines to Rs 73 Cr in FY25; losses cut by 72%
Medial

VLCC-owned Ustraa continued to face topline pressure in FY25, as it reported a second consecutive year of revenue decline since the acquisition, while aggressive cost rationalisation helped the men’s grooming brand sharply narrow its losses. Ustraa’s revenue from operations fell 22% to Rs 73 crore in FY25 from Rs 94 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). The Delhi-based company saw nearly 3% decline in revenue in the previous fiscal year (FY24). Founded in 2015, Ustraa offers products such as fragrances, hair care, face care, and beard care. Following its acquisition, the company's founders, Rahul Anand and Rajat Tuli, continued to work with the brand while also leading VLCC's D2C initiatives. Material cost, its largest expense component, fell 55% to Rs 27 crore in FY25 from Rs 60 crore in FY24. Advertising expenses declined 60% to Rs 9 crore in FY25. Employee benefit expenses reduced 35% to Rs 10 crore, and transportation costs decreased to Rs 7 crore. The company, however, saw its commission payouts grow 36% to Rs 15 crore during the fiscal. Overall, Ustraa’s total expenses dropped 39% to Rs 88 crore in FY25 from Rs 145 crore in FY24. With the company’s expenses contracting more than revenue, Ustraa managed to narrow its losses by 72% to Rs 14 crore in FY25 from Rs 50 crore in FY24. Its EBITDA loss stood at Rs 13.4 crore with an EBITDA margin of -18.36%. On a unit basis, Ustraa spent Rs 1.21 to earn a rupee in FY25, improving from Rs 1.54 in the previous fiscal. The company reported cash and bank balances of Rs 4 crore, while its current assets stood at Rs 30 crore, down from Rs 42 crore in FY24. Ustraa was acquired by personal care brand VLCC through a share swap and secondary buyout in the first quarter of FY24. Following the acquisition, Ustraa’s existing investors including Info Edge, 360 One and Wipro Consumer Care Ventures became stakeholders of VLCC. The brand directly competes with Beardo, The Man Company, and Bombay Shaving Company. Beardo reported a 23.7% rise in revenue to Rs 214 crore in FY25, along with a 3.6X jump in profit after tax (PAT) during the same period. The Man Company and Bombay Shaving Company, which recently raised Rs 136 crore ahead of a potential initial public offering (IPO), are yet to report their FY25 numbers. Notably, all these companies have either become part of a larger group or sold a significant stake to a major corporation.

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