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DailyRounds posts Rs 568 Cr revenue and Rs 320 Cr PAT in FY24

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DailyRounds posts Rs 568 Cr revenue and Rs 320 Cr PAT in FY24
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Dailyround’s operation revenue grew to Rs 568 crore in the fiscal year ending March 2024 from Rs 515 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Kunal Manchanada 12 May 2025 10:56 IST Updated On 12 May 2025 11:12 IST --- After recording a 42% year-on-year growth in FY23, healthcare-focused edtech platform DailyRounds experienced a moderate slowdown in FY24, with operating revenue increasing by just 10.3%. However, the Microsoft Ventures-backed firm’s profit surpassed Rs 300 crore in the same period. Dailyround’s operation revenue grew to Rs 568 crore in the fiscal year ending March 2024 from Rs 515 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. DailyRounds’ flagship product, Marrow, is an online learning platform where medical students and practitioners can subscribe to various plans, including video lectures, question banks, and test series. These plans, ranging from 3 to 36 months, accounted for 93% of the operating revenue, which rose to Rs 528 crore in FY24. The remaining operating income came from book sales to students under specific plans and from market research services. The company also earned Rs 89 crore in non-operating income from interest on deposits and investments, taking its total revenue to Rs 657 crore in FY24. DailyRounds spent Rs 68 crore on employee benefits, making it the company’s largest cost center, followed by legal and professional services, which accounted for Rs 64 crore in FY24. Web hosting, payment gateways, advertising, business promotion, and other overheads pushed the total expenditure to Rs 225 crore in FY24 from Rs 187 crore in FY23. The year-on-year growth in scale, combined with controlled expenditure, helped DailyRounds post a 14% increase in profits to Rs 320 crore in FY24, compared to Rs 281 crore in FY23. Its ROCE and EBITDA margin stood at 34.39% and 67.73%, respectively, during the same fiscal year. At the unit level, it spent Rs 0.40 to earn a rupee of operating revenue. By the end of FY24, DailyRounds’ total current assets stood at Rs 778 crore, including cash and bank balances of Rs 712 crore. As we have said earlier, the biggest challenge in this domain is getting in, and accepted with institutions. Post that, incremental costs are low, helping push profitability, and margins higher. The business will continue to have the margins that allow DailyRounds to expand into more segments of the field, and evolve with the changing needs of the market. However, truly disruptive growth will probably not come from the Indian market but other markets, and it remains to be seen how DailyRounds plans for such growth. With a claimed presence in over 16 countries, the firm seems well aware of the opportunities ahead, and will continue to be watched for such a breakthrough sooner than later.

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24

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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.

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
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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.

A23 reports Rs 841 Cr revenue and Rs 72 Cr profit in FY24

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A23 reports Rs 841 Cr revenue and Rs 72 Cr profit in FY24
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Online rummy platform A23 reported flat revenue growth for the fiscal year ending March 2024. However, the company achieved a 24% increase in profits, driven by controlled expenses and an increase in non-operating income during the same period. A23’s net revenue was recorded at Rs 841 crore in FY24 from Rs 839 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies (RoC) show. Notably, the firm's gross revenue grew by 31% to Rs 1,378 crore in FY24, up from Rs 1,051 crore in FY23. Of this, Rs 537 crore was paid out to players, resulting in a net revenue of Rs 841 crore for FY24. The platform fee, or commission, charged as a percentage of the buy-in fees from users, remained the sole revenue source for A23 during FY24. Additionally, the platform earned Rs 37 crore, primarily from interest on deposits and current investments, bringing its total revenue to Rs 878 crore in FY24. The company claims to have over 5 crore players on its platform and operates five games - rummy, fantasy, poker, carrom, and pool. A23 has not disclosed its overheads much and booked Rs 515 crore, which is 68% of the overall cost under the miscellaneous head. This might include all the major costs including advertising, servers, and hosting. A23’s employee benefits grew 41% to Rs 138 crore in FY24 from Rs 98 crore in FY23. Its legal, safety and security, printing, traveling, and other overheads pushed the total expenditure to Rs 761 crore in FY24. Despite the flat scale, the controlled expenditure and increase in other income helped A23 to post a 24% increase in its net profits to Rs 72 crore in FY24, compared to Rs 58 crore in FY23. Its ROCE and EBITDA margin improved to 11.5% and 15.26%, respectively while the expense-per-revenue ratio stood at Rs 0.90. At the end of FY24, A23’s total current assets were recorded at Rs 613 crore with cash and bank balances of Rs 534 crore.

Sugar Cosmetics reports Rs 505 Cr revenue and Rs 76 Cr loss in FY24

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Sugar Cosmetics reports Rs 505 Cr revenue and Rs 76 Cr loss in FY24
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Following a 90% year-on-year growth during FY23, the direct-to-consumer (D2C) beauty brand Sugar Cosmetics saw a modest 20% growth in March 2024. The company reported a revenue of Rs 505 crore and a loss of Rs 76 crore for FY24. Advertising costs were Rs 162 crore, with total revenue reaching Rs 515 crore. The cost of procurement was Rs 138 crore, and total expenditure amounted to Rs 584 crore. The company managed to reduce its losses by 11.4%. The Return on Capital Employed (ROCE) was -31.87%, and the EBITDA margin stood at -9.22%. Unit spending was Rs 1.16. Current assets were valued at Rs 302 crore, with cash and bank balances of Rs 54 crore. Sugar Cosmetics has raised a total funding of $85 million, with the last funding round being $50 million. The company is valued at an estimated $700-800 million and is considering an IPO.

Unnati Agri crosses Rs 500 Cr revenue in FY24; losses widen marginally

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Unnati Agri crosses Rs 500 Cr revenue in FY24; losses widen marginally
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Unnati Agri continued its growth momentum by crossing the Rs 500 crore revenue mark in the fiscal year ending March 2024. While its losses increased by 14% year-on-year, they remained under control during the same period. Unnati Agri’s revenue from operations increased by 30% to Rs 515 crore in FY24, from Rs 397 crore in FY23, according to its financial statements sourced from the Registrar of Companies (RoC). Unnati enables farmers to buy agri-inputs and sell produce directly to food processors and agribusinesses, generating 99% of its revenue from these transactions. It also offers pre- and post-harvest services along with working credit through a unified platform. On the expense side, material costs remained dominant at 88% of total expenses. These costs rose 27% to Rs 469 crore in FY24 from Rs 370 crore in FY23. Discount charges, tied to incentives and promotions, more than doubled to Rs 31 crore from Rs 15 crore. Employee benefits increased to Rs 15 crore, and other expenses rose to Rs 18 crore. Overall, the Orios Venture-backed firm’s total expense increased by 29% to Rs 533 crore in FY24 from Rs 412 crore in FY23. Despite the top-line growth, the company’s losses slightly widened to Rs 16 crore in FY24 from Rs 14 crore in FY23. Its ROCE and EBITDA stood at -17.19% and -2.03%, respectively. On a unit basis, the company spent Rs 1.03 to earn a rupee of operating revenue in FY24. Unnati’s total assets rose to Rs 144 crore in FY24, with current assets reaching Rs 141 crore. As of March 2024, the firm held Rs 34 crore in cash and bank balances, offering a liquidity buffer. According to startup data intelligence platform TheKredible, Unnati Agri has raised approximately $14 million in funding till date, having NABVENTURES and VSS Investco as its lead investors. Its co-founders, Amit Sinha and Ashok Prasad together own 44.6% of the company.

MamEarth-parent Honasa posts Rs 1,920 Cr revenue, Rs 110 Cr PAT in FY24

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MamEarth-parent Honasa posts Rs 1,920 Cr revenue, Rs 110 Cr PAT in FY24
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Honasa Consumer Ltd, the parent firm of the D2C brand MamaEarth, showcased a 28.7% year-on-year growth to near Rs 2,000 crore revenue threshold in FY24. The Gurugram-based firm also posted Rs 110 crore PAT in the same period marking a big turnaround as compared to over Rs 100 crore loss in FY23. Honasa’s revenue from operations grew to Rs 1,920 crore in FY24 from Rs 1,492 crore in FY23, its consolidated financial statements sourced from Bombay Stock Exchange (BSE) show. On a sequential basis, the firm saw a modest 3.7% decrease in revenue to Rs 471 crore in Q4 FY24 from Rs 488 crore in Q3 FY24. The sale of beauty, personal care, and related products across skin, hair, and baby care was the sole source of revenue for Honasa. It also made Rs 48 crore from the interest and gain of financial assets, tallying the total revenue to Rs 1,970 crore in FY24. For the D2C brand, its marketing cum advertisement cost is likely to be the largest cost center but the company didn’t disclose the complete expense breakdown while the cost of procurement of materials formed 31.8% of the overall expenditure. Its employee benefits, finance, depreciation, legal, conveyance, and other overheads took the overall expenditure to Rs 1,822 crore in FY24 from Rs 1,501 crore in FY23. The decent scale and controlled costs helped Honasa post a Rs 110 crore profit in FY24 from a loss of Rs 151 crore in FY23. Its ROCE and EBITDA margins improved to 13% and 9.5%, respectively. On a unit level, it spent Rs 0.95 to earn a rupee in FY24. Note 1: The significant loss of Rs 151 crore in FY23 was attributed to the write-off of its Rs 154 crore investment in Just4kids (Momspresso) which was acquired to expand content and influencer management capabilities. Note 2: Honasa has also encountered a legal suit in the UAE in relation to some distribution agreements with RSM General Trading LLC. The company claimed Rs 100 crore of damages from Honasa Ltd. Further, the court in the UAE also ordered Honsa to pay Rs 57.6 crore plus interest. The company, however, is in the process of making an appeal.

Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT

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Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT
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Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT Gameskraft has consistently reported net profits of around Rs 1,000 crore over the past three fiscal years. Despite encountering various legal challenges, the Bengaluru-based company achieved a 30% year-on-year growth in the fiscal year ending March 2024. Gameskraft’s revenue from operations grew to Rs 3,475 crore in FY24 from Rs 2,673 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Gameskraft operates popular gaming apps such as Rummy Culture, Playship, Pocket 52, RummyPrime, Ludo Culture, and Rummy Time. Its revenue (gross gaming revenue) comes from a platform fee or commission charged as a percentage of the buy-in fees users invest in games. This remained its sole revenue source during FY24. The company also made Rs 46 crore from interest on fixed deposits and gain on sale of current investments which tallied its overall revenue to Rs 3,521 crore in FY24 from Rs 2,732 crore in FY23. Similar to other gaming companies, Gameskraft has over a dozen brand ambassadors, including Harbhajan Singh, Mahesh Bhupathi, and Abhinav Bindra, and has run several campaigns on social media and TV. This pushed its advertising costs up by 113% to Rs 1,315 crore in FY24 from Rs 616 crore in FY23. Gameskraft employee benefits grew 23.5% to Rs 463 crore in FY24. This includes Rs 12 crore as ESOP cost which is settled in cash. Its legal, communication, domain, web hosting, and other overheads took the overall cost up by 71.7% to Rs 2232 crore in FY24 from Rs 1300 crore in FY23. The more than two-fold increase in advertising costs outpaced Gameskraft's revenue growth, causing its profits to drop by 10.8% to Rs 947 crore in FY24 from Rs 1,062 crore in FY23. Its ROCE and EBITDA margin stood at 69.4% and 37.46% respectively with an expense-to-earning ratio of Rs 0.64. At the end of FY24, Gameskraft's total current assets were recorded at Rs 1,680 crore with the cash and bank balance of Rs 306 crore. In the real-money gaming sector, MPL reported a 22.2% increase in revenue from operations to Rs 1,068 crore in FY24, while also achieving positive cash flow during the year. Gameberry saw a 46.9% growth in revenue to Rs 461.7 crore, with a 150% surge in profit to Rs 92.8 crore in the same period. Meanwhile, major competitors such as Dream11 and A23 have yet to release their financial results for FY24.

MoneyView posts Rs 577 Cr revenue in FY23; profit spikes 27X

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MoneyView posts Rs 577 Cr revenue in FY23; profit spikes 27X
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Online credit platform MoneyView secured $75 million in its Series E round led by Apis Partners in December 2022. The mammoth funding helped the firm achieve 2.6X growth in its scale along with a staggering 27X jump in profit during the fiscal year ending March 2023. MoneyView’s revenue from operations grew 2.6X to Rs 577 crore in FY23 from Rs 222 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, MoneyView offers personalized credit products like instant personal loans, cards, BNPL, and personal financial management solutions through third-party lenders. Income from fees and commissions on the disbursal of loans were the key revenue driver for MoneyView. It also made Rs 100 crore (non-operating) from interest which tallied its total income to Rs 677 crore in FY23. According to the company’s website, it has more than 45 million downloads, disbursed loans over 12,000 crore, and operates in 19,000 plus locations. For the online credit platform, its transaction processing fees paid to credit partners were the largest cost center comprising 26% of the overall expenditure followed by advertising cum business promotion which played a pivotal role in attracting customers for MoneyView. Expense Breakdown Total ₹ 240 Cr https://thekredible.com/company/moneyview/financials View Full Data To access complete data, visithttps://thekredible.com/company/moneyview/financials Total ₹ 515 Cr https://thekredible.com/company/moneyview/financials View Full Data To access complete data, visithttps://thekredible.com/company/moneyview/financials Employee benefit Employee benefit Information technology Information technology Allowance on portfolio loans & write offs Allowance on portfolio loans & write offs Transaction processing Transaction processing Advertisement and business promotion Advertisement and business promotion Subcontractor charges Subcontractor charges Others To check complete Expense Breakdown visit thekredible.com View full data Its employee benefits, write-offs, informational technology, subcontractor charges, and other overheads took the overall expenditure to Rs 515 crore in FY23 from Rs 240 crore in FY22. Check TheKredible for a complete expense breakdown. The notable scale and controlled expenditure helped Money View to register a huge spike in profits from Rs 6 crore in FY22 to Rs 163 crore in FY23. Its ROCE and EBITDA margin improved to 14% and 28.2% respectively. On a unit level, it spent Rs 0.89 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 9% 28.2% Expense/₹ of Op Revenue ₹1.08 ₹0.89 ROCE 3% 14% MoneyView has raised over $215 million across rounds and was valued at $900 million in its last round. According to the startup data intelligence platform TheKredible, Accel is the largest external stakeholder with 22.28% followed by Tiger Global and Ribbit Capital. Its co-founders Puneet and Sanjay Aggarwal cumulatively command 24% of the company. The high profits might signal a time to move towards debt funding for MoneyView, to keep its profit metrics in rude health. With a large user base, the firm is well placed to keep marketing costs in check, while it tackles other risks like bad loans and the likes. Regulatory risk remains the biggest risk as the RBI keeps a close eye on Moneyview’s bread and butter business, personal loans, for any signs of overheating.

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