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FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 4m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 6m ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

CRED nears Rs 2,500 Cr revenue in FY24; cuts operating losses by 41%

EntrackrEntrackr · 9m ago
CRED nears Rs 2,500 Cr revenue in FY24; cuts operating losses by 41%
Medial

Reward-based payments platform CRED continues its growing financial journey on the results side for the fiscal year ending March 2024. The fintech unicorn reported 66% growth in its scale during the last fiscal year, while also managing to reduce operating losses by 41%, bringing them close to Rs 600 crore. According to the company’s press release, CRED’s total revenue spiked by 66% year-on-year to Rs 2,473 crore in FY24. Notably, the Kunal Shah-led firm’s scale surged 5.8X over the past two fiscal years, with revenue rising from Rs 422 crore in FY22. Members used CRED for a wide range of payments beyond credit card bills, with strong adoption of P2P UPI payments, as per the release. The expanded adoption of CRED Pay across online merchants, boosted transaction volumes by 254% during the year. As a result, the total payment value (TPV) surged by 55% to Rs 6.87 lakh crore, while monthly transacting users (MTU) increased by 34%. In FY24, CRED’s customer acquisition costs dropped by 40%, while its marketing expenses declined by 36% during the same period. The launch of the CRED garage also gained traction for the company with over 4.2 million vehicles parked on in FY24 for challan and pollution certificate checks, FASTag recharges, and insurance renewals. CRED saw a 58% increase in monetized members, with contribution margins growing over 20X. The company claims to have been consistently contribution margin-positive for nine consecutive quarters. In the last fiscal year, its operating losses shrank by 41%, dropping to Rs 609 crore in FY24 from Rs 1,024 crore in FY23. Caveat: CRED’s net losses might exceed its operating losses, a detail that will become clearer when it files its numbers with the RoC. For instance, it reported a net loss of Rs 1,347 crore in FY23, while its press release referred to Rs 1,024 crore as the operating loss in the same period. “Meaningful growth comes from a sharp focus on high-quality users and creating exceptional experiences for them. This commitment to putting members first and rewarding trustworthy behaviour has driven growth, engagement, and trust across our ecosystem—benefiting members, merchants, and financial institutions alike.”, Kunal Shah, founder, CRED added in the press release. CRED has raised a total of $1 billion (Rs 7,775.20 crore) in funding across nine rounds. According to startup data intelligence platform TheKredible, PeakXV is the largest external stakeholder with 10.4% followed by Ribbit Capital, Tiger Global, and others. Founder and CEO Shah commands a direct 22.8% stake, along with his QED Innovation Labs. While a 66% topline growth is nothing to sniff at, one suspects CRED expected to, or is expected to, do better. The RBI move to regulate P2P lending in the last two months will only make this very significant revenue stream tougher to grow for the fintech, even as the lag between revenues and product and feature launches remains an issue of concern. It would be safe to say that CRED’s Shopping or travel segments are not significant contributors yet, although with a sizable captive user base now, the drop in promotion costs can be expected to continue. Customer acquisition costs are also taking a bit of a pause as the firm figures out the next cohort of users without compromising on its original premise of going for the cream of the crop, in terms of credit scores. Like many others, the limited or lack of revenue making opportunities on UPI payments remains an achilles heel, despite a very strong performance there. CRED remains one of the few firms which enjoy the credibility to be able to launch services that integrate multiple databases and information sources well, like CRED Garage. However, after loans, the firm badly needs a secondary revenue stream that is as promising to keep its users interested. Who knows, depending on its experience with auto insurance, perhaps a health insurance policy with CRED level features is around the corner? And we aren’t talking CRED coins here.

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%

EntrackrEntrackr · 1m ago
Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%
Medial

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31% Blackbuck's revenue from operations grew to Rs 122 crore in Q4 FY25 from Rs 93 crore in Q4 FY24, its financial statements sourced from the National Stock Exchange show. Online trucking platform Blackbuck has released its quarterly report for the financial year ending March 2025. The Bengaluru-based company reported a 31% year-on-year growth in scale in Q4 FY25 and turned profitable, posting a profit before tax (PBT) of Rs 41 crore in the quarter. For the full fiscal year (FY25), Blackbuck’s operating revenue increased 44% to Rs 427 crore in FY25 from Rs 297 crore in FY24. Revenue from its truck operator services was the primary source of revenue, accounting for 98% of total operating revenue. The company also made Rs 15 crore from interest income which took its overall revenue to Rs 137 crore in Q4 FY25, compared to Rs 99 crore in Q4 FY24. For the full fiscal year, the firm’s total revenue stood at Rs 462 crore in FY25. Looking at the expenses, the employee benefit cost accounted for 35% of the overall expenditure which fell 74% year-on-year to Rs 33 crore in Q4 FY25 from Rs 128 crore in Q4 FY24. Depreciation and other operating expenses were key overheads that drove total expenditure to Rs 95 crore in Q4 FY25, compared to Rs 187 crore in the same quarter last year. For the fiscal year ending March 2025, the firm’s total expenses fell to Rs 371 crore as compared to Rs 483 crore in FY24. Blackbuck booked profit before tax of Rs 41 crore in Q4 FY25, as compared to a loss of Rs 87 crore in Q4 FY24. Meanwhile, for the full fiscal year ended March 2025, the company remained at a loss of Rs 283 crore (before tax), 69% more than Rs 167 crore in FY24. Blackbuck debuted on the stock exchange at Rs 208.90 and is now trading at Rs 459 on May 27, bringing its total market capitalization to Rs 8,180 crore.

Kunal Shah’s CRED and Newtap to lead Rs 550 Cr investment in NBFC arm

EntrackrEntrackr · 5m ago
Kunal Shah’s CRED and Newtap to lead Rs 550 Cr investment in NBFC arm
Medial

Non-banking financial company Newtap Finance Private Limited is planning to raise Rs 550 crore (around $64 million) from Newtap Technologies and CRED in the near to medium term. CRED founder Kunal Shah’s Newtap Technologies is the majority shareholder in Newtap Finance (formerly Parfait). According to a press release by India Ratings and Research, during FY22-24, promoters have invested Rs 149 crore in Newtap Finance, with CRED contributing a primary infusion of Rs 35.7 crore to date. Newtap Finance (NFPL) offers personal loans to individuals, with CRED serving as the loan service provider. CRED has a monthly active user base of 12 million and provides a range of services, including credit card payments, UPI transactions, vehicle management, lending, insurance, personal finance management via account aggregator rails, and rewards/deals. Newtap Finance’s loan book lacks seasoning, but CRED pre-approves loans for select users based on their financial behavior. All CRED members qualify with high credit scores, which is a key eligibility criterion for the app. Kunal Shah indirectly owns 76% of Newtap Finance through his fully owned entity, Newtap Technologies, while CRED holds a 23.6% stake. Shah and CRED gained control of Newtap in 2022, but the RBI blocked CRED's bid to raise its stake in 2023. Since then, Newtap has worked to establish itself as an independent NBFC. At the end of December 2024, the total AUM outstanding on Newtap Finance’s platform was Rs 1,141.6 crore, of which Rs 632 crore was on NFPL’s books. NFPL has also partnered with two large lenders—a bank and an NBFC—for co-lending and plans to scale up co-lending in the near term. As of December 2024, CRED had an AUM (assets under management) of Rs 19,000 crore, with an NPA (non-performing asset) of 1.1%, the press release added. During the fiscal year that ended in March 2024, CRED reported a 66% year-on-year growth in its operating revenue to Rs 2,473 crore. Moreover, the operating losses for the Tiger Global-backed company reduced by 41% in the same period.

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