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Droom India’s FY23 loss halves to INR 62 Cr, sales dip 34%

Inc42 · 1y ago

Droom India’s FY23 loss halves to INR 62 Cr, sales dip 34%

Indian car marketplace Droom's India unit managed to cut its net loss by 55% to INR 62.1 Cr ($8.3 million) in the fiscal year ending on March 31, 2023. However, the startup also saw a decline of 34% in operating revenue to INR 253.2 Cr ($33.8 million) during the same period. Droom primarily earns revenue from commissions, seller subscriptions, and advertisement fees. The startup reduced its advertising costs by 34% and employee benefit expenditure by 56%. Droom had planned to raise INR 3,000 Cr ($400 million) through an IPO but postponed it due to market conditions.

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Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Inc42 · 1y ago

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Swiggy's net loss for FY24 was INR 2,350 Cr, a decrease from the previous year's loss of INR 4,179.3 Cr. However, its operating revenue saw a 36% increase, reaching INR 11,247.3 Cr compared to INR 8,264.5 Cr in FY23. The company also improved its EBITDA margin from -46.4% in FY23 to -16.2% in FY24.

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Inc42 · 1y ago

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Ola Financial Services recorded a net loss of INR 54.6 Cr in FY23, compared to a profit of INR 8.6 Cr in FY22. Ola's parent company, ANI Technologies, reduced its consolidated net loss by 49.2% to INR 772.2 Cr in FY23. Ola's sales increased by 63% to INR 1,987.5 Cr, while its net loss decreased by 64.8% to INR 1,082.5 Cr in FY23. Ola's rival, Uber India, saw its net sales rise by 54% to INR 2,666.1 Cr in FY23, with a loss of INR 311.3 Cr. Ola Electric is also planning an IPO to raise funds.

Curefoods’ FY24 Loss Halves To INR 173 Cr

Inc42 · 11m ago

Curefoods’ FY24 Loss Halves To INR 173 Cr

Curefoods significantly reduced its FY24 losses by 49.64%, driven by substantial revenue growth and improved margins. The company's operating revenue surged by 53.17% to INR 585.1 crore, up from INR 382 crore the previous fiscal year. Additionally, the EBITDA loss decreased to INR 82.8 crore compared to INR 275.7 crore in FY23, while the EBITDA margin improved from -72% to -14%, reflecting better financial performance and operational efficiency.

D2C brand Bewakoof’s loss halves to INR 12.7 Cr in FY23, sales dip 8%

Inc42 · 1y ago

D2C brand Bewakoof, owned by Aditya Birla Group’s TMRW, managed to reduce its loss by almost 60% in FY23, reporting a net loss of INR 12.7 Cr. However, its operating revenue dipped 8% to INR 147.1 Cr. The startup's other income surged 64% to INR 82 Cr, contributing to the decline in net loss. Total expenditure remained almost flat at INR 241.8 Cr, with the highest amount spent on procurement of finished goods. Aditya Birla Group's TMRW invested INR 200 Cr in Bewakoof to acquire a majority stake in the startup.

HealthKart’s FY23 Sales Surge 70% To Cross INR 800 Cr Mark, Loss Halves

Inc42 · 1y ago

HealthKart’s FY23 Sales Surge 70% To Cross INR 800 Cr Mark, Loss Halves

HealthKart, an online health marketplace, saw a 70% increase in sales to INR 832.4 Cr ($111.7 million) in FY23. The company also managed to reduce its net loss by half to INR 164.7 Cr ($22 million). HealthKart primarily generates revenue through its website, ecommerce platforms, and offline stores. The startup's biggest expense was procurement cost, followed by employee benefits and advertising expenses. HealthKart is now in talks to raise $100 Mn-$150 Mn from ChrysCapital in a secondary transaction. It counts Sofina Ventures, Peak XV Partners, and Intel Capital among its investors.

Kapiva’s Loss Widens By 34% To INR 64.6 Cr In FY23 As Business Expands

Inc42 · 1y ago

Kapiva’s Loss Widens By 34% To INR 64.6 Cr In FY23 As Business Expands

Ayurvedic D2C brand Kapiva reported a 34% increase in losses to INR 64.6 Cr in FY23, despite a 94% rise in operating revenue. Purchases of stock-in-trade contributed to a majority of expenses, growing 55% YoY to INR 42.3 Cr. Employee costs rose by almost 46% to INR 32.8 Cr, while sales and marketing expenses totaled INR 64.3 Cr. The company attributed the increased loss to investments in team and marketing costs to support its growing business. Kapiva has raised $15.77 Mn in funding from investors including Vertex Ventures and Fireside Ventures.

Droom Unveils New Products For Used Car Industry, Other Sectors

Inc42 · 1y ago

Droom Unveils New Products For Used Car Industry, Other Sectors

Indian used car marketplace, Droom, has launched four new products: MyDroom, AdReach, goDigital, and Chairman Club. These offerings aim to transform the used car industry as well as other sectors, providing comprehensive solutions for consumers, businesses, and dealerships throughout the car ownership journey. MyDroom is an AI-powered app for car management, AdReach is a performance-driven marketing platform, goDigital is an easy-to-use e-commerce platform, and Chairman Club offers a range of automobile services. Droom reported a 55% decrease in net loss for FY23 and a 34% decline in operating revenue.

Chaayos’ Loss Halves To INR 54 Cr In FY24

Inc42 · 11m ago

Chaayos’ Loss Halves To INR 54 Cr In FY24

Chaayos witnessed a significant improvement in its financial performance during FY24. The company managed to halve its loss to INR 54 crore, while its operating revenue increased modestly by 4.89% to reach INR 248.6 crore. Additionally, Chaayos successfully reduced its total expenditure by 3.69% to INR 352.2 crore. Notably, the company achieved a positive EBITDA of INR 28.3 crore, compared to an EBITDA loss of INR 22.1 crore in the previous fiscal year.

Wealthtech Startup Jar Halves FY25 Loss To INR 50.5 Cr

Inc42 · 9d ago

Wealthtech Startup Jar Halves FY25 Loss To INR 50.5 Cr

Wealthtech startup Jar, backed by Tiger Global, significantly reduced its net loss to INR 50.5 crore for FY25 from INR 104 crore in the previous year. Despite the net loss, Jar's operating revenue surged 50 times to INR 2,447.8 crore from INR 49 crore in FY24, attributed to accounting adjustments. The company's total expenses increased 15.6 times to INR 2,501.2 crore, and Jar achieved profitability in the first two quarters of 2025.

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Inc42 · 1y ago

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Ola Electric has filed for an IPO to raise INR 5,500 Cr by issuing new shares. The startup's sales in the first three months of FY24 reached INR 1,242.7 Cr, almost half of the revenue reported in FY23. Ola Electric's primary source of revenue comes from two-wheeler sales. The company reported a net loss of INR 268 Cr in Q1 of FY24 and a net loss of INR 1,471.6 Cr in FY23. Its major expenditure is on procurement, which accounted for 76% of total expenses in Q1 of FY24. Ola Electric competes with Ather, Bounce Infinity, Hero, Revolt, TVS, Okinawa, among others.

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