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E-sports platform JetSynthesys reports Rs 108 Cr EBITDA loss on Rs 208 Cr revenue in FY25

EntrackrEntrackr · 4m ago
E-sports platform JetSynthesys reports Rs 108 Cr EBITDA loss on Rs 208 Cr revenue in FY25
Medial

E-sports and gaming platform JetSynthesys turned profitable in FY25 following the sale of its current investment worth Rs 165 crore. However, the Pune-based firm continued to incur operational losses in the same period. JetSynthesys reported a 10% year-on-year growth in operating revenue to Rs 207.6 crore in FY25 from Rs 188.9 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies. JetSynthesys derives its revenue from a diverse range of services spanning gaming, esports, digital content, interest-based communities, and OTT platforms for video and music. However, the company has not disclosed a segment-wise revenue breakdown. Notably, the company recorded Rs 175.2 crore in other income, which included a gain of Rs 164.8 crore from the sale of current investments. This sale is likely linked to JetSynthesys’ divestment of its stake in Nautilus Mobile to global gaming major KRAFTON. However, the company has not provided any specific details regarding the transaction. On the expense side, employee benefits were the largest cost center for the firm, forming 31% of its total cost, amounting to Rs 102.4 crore, which declined 13% in FY25. Content licensing was another major expense for the company, which stood at Rs 75 crore. Event Management expenses, along with subcontracting and consultancy costs, grew by 28% and 31%, respectively, to Rs 38.3 crore and Rs 22.8 crore, while the company controlled its burn by 33% in FY25. Overall expenses for JetSynthesys declined marginally to Rs 329.5 crore in FY25 from Rs 345.7 crore in FY24. The 10% rise in revenue, coupled with controlled expenses and a one-time gain, helped JetSynthesys to turn profitable in FY25, reporting a profit of Rs 14.4 crore compared to a loss of Rs 97.5 crore in FY24. However, the company continued to post an operational loss of Rs 107.8 crore in FY25. The EBITDA margin and ROCE improved to -51.94% and -37.8%, respectively. On a unit basis, the firm spent Rs 1.59 to earn a rupee of operating revenue. As of March 2025, the company’s current assets stood at Rs 361.3 crore, including cash and bank balances of Rs 11.5 crore. The Sachin Tendulkar-backed company has raised over $90 million to date across multiple funding rounds. Its investors include Adar Poonawalla’s Serum Institute of India Pvt. Ltd and Pratithi Investment Trust.

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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.

Nazara’ Q3 FY26 revenue declines 24% to Rs 406 Cr; profit down 36%

EntrackrEntrackr · 1m ago
Nazara’ Q3 FY26 revenue declines 24% to Rs 406 Cr; profit down 36%
Medial

Gaming and sports media firm Nazara Technologies reported a 24% year-on-year fall in its operating revenue for Q3 FY26. However, the company has regained profitability after booking a loss in the last quarter due to a write-off. Nazara’s operating revenue fell to Rs 406 crore in Q3 FY26 from Rs 535 crore in Q3 FY25, according to its unaudited financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 8% (Rs 34 crore) of the company’s total operating revenue, while the gaming segment held a 63% share (Rs 257 crore), followed by ad tech, which contributed 28% (Rs 115 crore). Nazara booked Rs 11 crore under non-operating income bringing its overall revenue down to Rs 417 crore in Q3 FY26 from Rs 557 crore in Q3 FY25. For the nine-month period, the company’s revenue increased by 30% to Rs 1,431 crore from Rs 1,104 crore, a year earlier. Nazara’s total expenses fell by 24% to Rs 402 crore in Q3 FY26, compared to Rs 531 crore in the same quarter last year. Content cost stood at Rs 81 crore, while employee benefit expenses fell to Rs 72 crore. Noteably, marketing expenses was the largest cost center, accounting for 27% of the total cost at Rs 109 crore in Q3 FY26. The company’s net profit decreased 36% to Rs 9 crore in Q3 FY26 as compared to a profit of Rs 14 crore in Q3 FY25. In the third quarter, SBI Mutual Fund sold 45,09,360 Nazara shares worth Rs 108 crore. This trimmed its stake in Nazara from 5.78% (2.14 crore shares) to 4.55% (1.69 crore shares). At the end of the day, Nazra’s share was trading at Rs 285 with a total market capitalization of Rs 10,554 crore (approximately $1 billion).

Dream11’s domicile and director benefits lead to Rs 479 Cr loss in FY25

EntrackrEntrackr · 1m ago
Dream11’s domicile and director benefits lead to Rs 479 Cr loss in FY25
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Dream Sports, the parent of Dream11, saw its operating scale decline 15% in FY25 and reported a net loss of Rs 479 crore for the year ended March 2025. This appears to be a rare loss for the Mumbai-based company, which was steered by a one-time tax cost of Rs 575 crore arising from the cross-border merger of Dream Sports INC and India’s Sporta Technologies, along with Rs 771 crore cost, which were booked against directors' benefits. Dream11’s revenue from operations declined 15% year-on-year to Rs 6,759 crore in FY25 from Rs 7,934 crore in FY24, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Platform fees received from users for participating in contests, also known as Gross Gaming Revenue (GGR), remained the primary source of revenue in FY25 and stood at Rs 10,284 crore. After adjusting for promotional credits and revenue of Rs 259 crore from the sale of services and goods, the company’s net operating revenue stood at Rs 6,759 crore. The company also earned Rs 601 crore from non-operating sources, which includes interest on fixed deposits and investments, which pushed Dream11’s total income to Rs 7,374 crore in the last fiscal year. Following the ban on real-money gaming, Dream Sports has shifted from fantasy gaming to a global sports entertainment platform, with creator-led watch alongs, fan interactions, banter streams, and free-to-play fantasy formats. The company has also entered the wealth tech space with its new app, Dream Money. On the cost side, advertising and promotional expenses remained the largest cost centre, which accounted for 58% of total expenses, or Rs 3,913 crore, in the last fiscal. Employee benefit expenses emerged as another major cost, it rose over 62% to Rs 1,673 crore in FY25 from Rs 1,030 crore in FY24. Notably, the company recorded Rs 778 crore as benefits to its directors, which are likely to be the ESOP-related cost. Information technology expenses accounted for Rs 798 crore while content, processing, and other miscellaneous overheads pushed the firm’s overall expenditure up by 9% to Rs 7,123 crore in FY25 from Rs 6,562 crore in FY24. Dream11 incurred a one-time tax expense of Rs 575 crore, linked to the merger of Dream Sports Inc. with Sporta Technologies Private Limited during its shift in domicile from the US to India. The company booked this as an exceptional item. The decline in operating scale, coupled with a one-time tax expense and director benefits, drove the firm into losses with Rs 479 crore loss in FY25 from Rs 1,295 crore profit in FY24. Its ROCE and EBITDA margin worsened to -6.51% and -4.29%, respectively. It also reported EBITDA loss of Rs 290 crore during the year. On a unit level, it spent Rs 1.05 to earn a rupee in FY25. As of March 2025, Dream11’s parent had total current assets of Rs 3,729 crore, which includes Rs 1,801 crore of cash and bank balances.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 4m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
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Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

Coaching chain Motion scale remains flat at Rs 108 Cr in FY25

EntrackrEntrackr · 8d ago
Coaching chain Motion scale remains flat at Rs 108 Cr in FY25
Medial

The content relevant to the URL is: Coaching chain Motion scale remains flat at Rs 108 Cr in FY25 IIT-JEE and NEET-focused bootstrapped coaching institute chain Motion reported no growth in the fiscal year ending March 2025. However, the Kota-based firm recorded a slight decline in profit in the same period. Motion’s revenue from operations stood at Rs 108 crore in FY25, marginally declining from Rs 109 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2007, Motion offers coaching programs for competitive examinations such as JEE and NEET through classroom training at its offline centres as well as online learning solutions. The firm generates revenue from course fees paid by students enrolled in its programs. The firm added around Rs 2 crore from non-operating income, which kept its total income steady at Rs 110 crore in FY25. Employee benefit expenses accounted for the largest share of the company’s spending. This cost increased 4% to Rs 49 crore in FY25 and formed nearly 48% of the total expenditure. Advertising and promotional expenses declined 8% to Rs 12 crore in the last fiscal year. Legal charges grew 33% year-on-year to Rs 10 crore during FY25, while rent expenses also rose 17% to Rs 5.2 crore. Overall, the firm’s total expense increased marginally to Rs 103 crore in FY25 from Rs 102 crore in FY24. Despite stable income, Motion’s profit declined 6.7% to Rs 5.6 crore in FY25 from Rs 6 crore in the previous fiscal year. Its ROCE and EBITDA margin improved to 12.29% and 10.74%, respectively. On a unit basis, the company spent Rs 0.95 to earn a rupee of operating revenue during the fiscal year. Motion reported total assets of Rs 115 crore in FY25, up from Rs 81 crore in FY24. It recorded cash and bank balances of Rs 10 crore, while its current assets stood at Rs 23 crore at the end of FY25. The Kota-based company has not raised any funding yet and competes with the likes of Aakash, Career Point, Allen and Resonance. Allen reported Rs 3,067 crore in FY25, while its profit plummeted 70% to Rs 41 crore. On the other hand, Aakash recorded a loss of Rs 2,443 crore in FY24, which was primarily attributed to exceptional items connected to its parent company, Byju's. During the same fiscal year, Aakash's revenue from operations remained stable at Rs 2,438 crore. The company has not yet submitted its financial reports for FY25. Motion’s flat performance in FY25 also reflected the broader trend in the coaching segment. Larger players such as Allen and Aakash also reported limited growth during the period. While Allen’s profit dropped sharply despite large revenue, Aakash’s scale is expected to remain largely unchanged in FY25. Against this backdrop, Motion’s steady revenue indicates a stable but slow-moving phase for traditional coaching institutes amid rising competition and shifting student preferences.

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 3m ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 5m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

SleepyCat reports Rs 98 Cr revenue and Rs 9 Cr loss in FY25

EntrackrEntrackr · 22d ago
SleepyCat reports Rs 98 Cr revenue and Rs 9 Cr loss in FY25
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SleepyCat posted strong growth in the fiscal year ended March 2025, with its operating revenue nearing Rs 100 crore. At the same time, the direct to consumer mattress brand kept its losses in single digits. SleepyCat’s revenue from operations rose 44% to Rs 98 crore in FY25 from Rs 68 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). SleepyCat operates a direct-to-consumer model focused on selling mattresses and sleep accessories primarily through its online channels. The company generated most of its revenue from the sale of finished goods, which contributed 89% of the total and increased 39% to Rs 87 crore in FY25. Revenue from the sale of traded goods nearly doubled to Rs 9.8 crore during the year. On the spending side, the cost of material accounted for half of its total cost, this expense climbed 52% to Rs 54 crore in FY25 from Rs 35.6 crore in FY24. Employee benefit expenses rose 11% to Rs 10 crore in FY25 from Rs 9 crore in FY24. Overall, SleepyCat’s total expenses expanded 44% to Rs 108.5 crore in FY25 from Rs 75.5 crore in FY24. Along with the increase in its scale, the company’s loss increased by 29% to Rs 9 crore in FY25 from Rs 7 crore in FY24. The company posted an EBITDA loss of Rs 9.6 crore in FY25 compared to Rs 6.7 crore in the previous year, while its EBITDA margin remained largely flat at -9.80%. The Bengaluru-based firm reported cash and bank balances of Rs 3 crore at the end of FY25, while its current assets stood at Rs 18.6 crore. SleepyCat has raised around $5 million of funding till date, having DSG Consumer Partners as its lead investor.

PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat

EntrackrEntrackr · 6m ago
PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat
Medial

PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat API Holdings, the parent of e-pharmacy and diagnostics brand PharmEasy, reported flat revenue in the fiscal year ending March 2025. However, the Mumbai-based company has cut losses by 38% due to a sharp reduction in finance and depreciation costs during the last fiscal year. PharmEasy’s operating revenue increased 3.7% to Rs 5,872 crore in FY25 from Rs 5,664 crore in FY24, according to the company’s financial statements reviewed by Entrackr. PharmEasy offers pharmaceutical products, along with diagnostic services and teleconsultations, through its mobile and web apps. PharmEasy derived about 87% of its operating revenue, or Rs 5,097.5 crore, from the sale of pharmaceutical and cosmetic products, while the remainder came from services such as diagnostics, teleconsultations, delivery, warehousing, and commissions from facilitating pathological tests. The firm also earned Rs 108 crore in non-operating income from interest and asset gains, taking its total revenue to Rs 5,898 crore in FY25. On the expenses side, the cost of materials remains the largest cost centre constituting 67.2% of the total expenditure to Rs 4,844 crore in FY25. PharmEasy’s employee benefit expenses went up by 30% to Rs 908.4 crore in the last fiscal year as compared to Rs 700 crore in FY24. Meanwhile, finance costs also went down 30% to Rs 506 crore while the depreciation and amortization expenses declined 21.7% to Rs 168.9 crore during the year. Contractual payment for delivery associates was another significant cost at Rs 90 crore. Other expenses include legal, professional, sales promotion, and marketing. The company’s overall expenses also remained flat at Rs 7,208.5 crore in FY25. While the company’s revenue and expenses remained largely unchanged in FY25, a reduction in exceptional items such as early redemption charges on non-convertible debentures, goodwill impairment and others helped narrow its losses by 38% to Rs 1,572.3 crore compared to Rs 2,533.5 crore in FY24. PharmEasy’s EBITDA (loss) stood at Rs 553.5 crore while its ROCE and EBITDA margin improved marginally to -13.9% and -15.71%, respectively. On a unit level, Pharmeasy spent Rs 1.23 to earn a rupee of revenue during the fiscal year ending March 2025. Thyrocare, a diagnostic and preventive healthcare service provider, in which Pharmeasy acquired a majority stake in June 2021, posted Rs 687.5 crore in FY25, a 20% increase compared to Rs 571.88 crore in FY24. During the same period, its profit also grew by 30% to Rs 90.75 crore. Earlier this year, PharmEasy cofounders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia stepped back from the company, while the fourth cofounder Siddharth Shah exited last month. The parent entity API Holdings has now appointed Rahul Guha, who also serves as the MD and CEO of Thyrocare, as its new MD and CEO. According to the startup data intelligence platform TheKredible, PharmEasy has raised around $1.1 billion to date from Ranjan Pai’s MEMG, Prosus, and Temasek, among others.

Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25

EntrackrEntrackr · 11m ago
Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25
Medial

Ecom Express reported revenue from operations of Rs 1,912 crore during the first three quarters of FY25, according to an internal document reviewed by Entrackr. Ecom Express saw a dip in revenue alongside growth in losses. The company recorded Rs 2,653 crore in revenue for the full fiscal year FY24. Based on the current trajectory, Ecom Express is likely to close FY25 with around Rs 2,500 crore in revenue or possibly less. Ecom Express generated Rs 2,349 crore from courier services and Rs 260 crore from warehousing operations in the first nine months of FY25. The decline in revenue led Ecom Express to register a net loss of Rs 398 crore in the 9M FY25, compared to Rs 249 crore during FY24. Its adjusted EBITDA loss stood at Rs 104 crore in the first nine months of FY25. Before the acquisition, Ecom Express raised over $290 million. The discount sale of Ecom Express underscores the challenge of large logistics businesses with significant man-management requirements. Ecom Express has made progress with a strong leadership team in place.

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