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Edtech startup Glossaread reports profit of Rs 60L with a revenue of Rs 7Cr

IndianStartupNews

IndianStartupNews · 2y ago

Edtech startup Glossaread reports profit of Rs 60L with a revenue of Rs 7Cr

Edtech startup Glossaread, through its parent company Glossaread Technologies, reported a profit of Rs 60 lakh and a gross revenue of Rs 7 crore in FY2023. The company aims for cash positivity by the end of FY2023-24. Glossaread provides high-quality study materials and resources to students in tier 2 and 3 cities. The startup has shown significant growth with an annual growth rate of 42% and an 80% annual increase in new users, reaching 2 million unique visitors. It plans to expand globally in 2023 and has partnered with Klub for flexible funding without equity dilution.

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Vijya Fintech raises Rs 7Cr in angel funding

IndianStartupNews

IndianStartupNews · 1y ago

Vijya Fintech raises Rs 7Cr in angel funding

Vijya Fintech Private Limited (VFPL), a wealth management firm, has successfully raised Rs 7 crore in angel funding, bringing its total raised amount to Rs 15 crore. The startup, co-founded by Aakash Bansal and Paresh Paladiya, aims to disrupt the fintech sector with its innovative solutions for investors, distributors, advisors, and stockbrokers. The funding round included participation from Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and other notable investors. With this funding, VFPL plans to accelerate its expansion, refine go-to-market strategies, launch MIDASX, and leverage data analytics and AI for enhanced insights and personalized solutions.

Geotech startup MapmyIndia net profit grows 32% in Q1, revenue up 38%

Economic Times

Economic Times · 2y ago

Geotech startup MapmyIndia net profit grows 32% in Q1, revenue up 38%

MapmyIndia, a geotech startup, reports a 32% rise in net profit during Q1, with revenue increasing by 38%. The company's robust financial performance reflects its sustained growth in the geospatial technology sector. MapmyIndia's impressive profit and revenue gains underscore its position as a prominent player in providing innovative mapping and location-based solutions, solidifying its presence in the tech startup landscape.

Sachin Bansal's Navi Finserv quadruples standalone PAT in FY24 after subsidiary sale

YourStory

YourStory · 1y ago

Sachin Bansal's Navi Finserv quadruples standalone PAT in FY24 after subsidiary sale

- Navi Finserv Limited (NFL) reports strong standalone revenue growth of 48.57% in fiscal year 2024 (FY24), reaching Rs 1,906 crore. - On a consolidated basis, NFL's revenue declined by 6.5%, mainly due to divesting its stake in Chaitanya India Fin Credit (CIFCPL) in FY23. - NFL's standalone net profit nearly quadrupled to Rs 668.82 crore in FY24, while the consolidated net profit more than doubled to Rs 545.07 crore. - Total expenses increased by 48.4% on a standalone basis, driven by a significant rise in employee benefit costs. - NFL disbursed Rs 3,097.82 crore under co-lending agreements in FY24 and closed a $38 million personal loans securitisation deal with JP Morgan.

Info Edge Q1 revenue rises 14% to Rs 676 crore, net profit down 50% amid weak IT sector hiring

Money Control

Money Control · 2y ago

Info Edge Q1 revenue rises 14% to Rs 676 crore, net profit down 50% amid weak IT sector hiring

Info Edge reports a 14% revenue increase to Rs 676 crore, but net profit drops 50% due to weakened IT sector hiring. The company's financial results reflect the impact of industry-specific challenges on hiring trends. The decline in net profit highlights the interconnectedness of economic sectors and their influence on recruitment dynamics, illustrating the broader effects of market fluctuations on employment trends.

Aviotron Bags Funding To Offer Experiential Learning To Students

Inc42 · 1y ago

Aviotron Bags Funding To Offer Experiential Learning To Students

Noida-based edtech startup Aviotron Aerospace has raised INR 4.96 Cr ($600K) in a Pre-Series A round led by Enrission India Capital. The funding will be used to expand the startup's operations across India. Aviotron Aerospace offers experiential learning programs to students in partnership with schools and aims to expand its reach to 28 states by the end of the year. The startup previously raised INR 2 Cr in seed funding and reported a profit of INR 50 Lakh on a revenue of INR 5 Cr in 2023. The Indian edtech sector has seen a decline in investor interest and funding.

PhysicsWallah posts 33% rise in net profit in Q3 FY26 as revenue jumps to Rs 1,082 crore

IndianStartupNews

IndianStartupNews · 14d ago

PhysicsWallah posts 33% rise in net profit in Q3 FY26 as revenue jumps to Rs 1,082 crore

PhysicsWallah experienced significant financial growth in Q3 FY26, with a revenue increase of 33.7% to Rs 1,082.4 crore and a 33% rise in net profit to Rs 102.3 crore year on year. The company's success was driven by expanding both online and offline educational offerings and an increase in paid enrollments. The edtech firm also achieved IPO success, listing at Rs 145 per share on the NSE. PhysicsWallah continues to expand its course offerings and AI initiatives.

Simplilearn nears Rs 700 Cr income FY23; betters economics

Entrackr

Entrackr · 2y ago

Simplilearn nears Rs 700 Cr income FY23; betters economics

Edtech startup Simplilearn has achieved significant growth with a two-fold increase in its operating scale in the last two years, thanks to raising $45 million in funding in FY22. The company's revenue surged to Rs 684 crore in FY23 from Rs 341 crore in FY21, marking a 50.33% year-on-year growth. Simplilearn provides digital upskilling programs in various fields and derived revenue from hosting services, live classes, virtual classes, and examination voucher sales. However, despite progress, the company still faces challenges in a competitive edtech market.

DailyRounds posts Rs 281 Cr PAT on Rs 515 Cr revenue in FY23

Entrackr

Entrackr · 2y ago

DailyRounds posts Rs 281 Cr PAT on Rs 515 Cr revenue in FY23

Healthcare-focused edtech platform DailyRounds reported a revenue of over Rs 500 crore ($67 million) and a profit surge of 42% during the fiscal year ending March 2023. The company's flagship product Marrow, a learning platform for medical professionals, contributed 90% of the operating revenue. DailyRounds' expenses were well-controlled, leading to substantial profits. The company faces competition from PrepLadder and Byju's in the medical education segment.

Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25

Entrackr

Entrackr · 1d ago

Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25

Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25 Edtech startup Klassroom has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India to launch an initial public offering on the SME platform of the Bombay Stock Exchange, according to its regulatory filings. The proposed IPO comprises a mix of fresh issue of equity shares and an offer-for-sale (OFS) by existing shareholders. According to the DRHP, the proceeds from the fresh issue will be used for debt repayment, strengthening its technology stack, including AI/ML capabilities, content development, and marketing initiatives. The OFS component will allow select promoters and early investors to pare their stakes partially. Founded in 2016, Klassroom operates a hybrid learning ecosystem that blends its AI-powered education OTT platform with a network of offline partner centres. The company focuses on students from Classes 8 to 12, offering recorded and live classes while expanding through a franchise-led, asset-light model. The filing comes at a time when the edtech sector is witnessing a measured recovery following a prolonged funding slowdown. Unlike several venture-backed peers that are still chasing profitability, Klassroom has reported improving bottom-line performance. In terms of financials, the company’s revenue from operations grew 120% to Rs 10.1 crore in FY25 from Rs 4.6 crore in FY24. Its net profit jumped nearly eightfold to Rs 2.9 crore in FY25 compared to Rs 34.4 lakh a year earlier. For the six months ended September FY26, Klassroom reported Rs 12.4 crore in operating revenue with a net profit of around Rs 4 crore.

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59%

Entrackr

Entrackr · 21d ago

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59%

Delhivery reports Rs 2,805 Cr revenue in Q3 FY26, profit jumps 59% Logistics company Delhivery announced its Q3 FY26 results on Saturday and reported an 18% year-on-year increase in revenue. At the same time, the company’s profit rose 59% to Rs 40 crore. Delhivery’s revenue from operations grew 18% to Rs 2,805 crore in Q3 FY26 from Rs 2,378 crore in Q3 FY25, according to its financial statements filed with the National Stock Exchange (NSE). Delhivery’s primary revenue came from its logistics services, including warehousing, last-mile delivery, and the design and deployment of logistics management systems. The company also earned Rs 77 crore from non-operating activities, bringing its total revenue to Rs 2,882 crore in Q3 FY26. Freight handling and servicing costs accounted for 70% of total expenditure and rose 7.4% to Rs 1,980 crore in Q3 FY26. Employee benefit expenses declined marginally by 4% to Rs 410 crore, while depreciation and amortization costs stood at Rs 187 crore. Legal, finance, and other overheads added another Rs 243 crore, a 4% year-on-year increase. An 18% rise in operating revenue and controlled expenditure helped the firm increase its profit by 59% to Rs 40 crore in Q3 FY26, compared with Rs 25 crore in Q3 FY25. The company had reported a loss of Rs 50 crore in the previous quarter. For the first nine months of the fiscal year ending March 2026, revenue from operations rose over 13% year-on-year to Rs 7,658 crore, while profit stood at Rs 88 crore. In a separate exchange filing, Delhivery granted 70,900 employee stock options worth Rs 3 crore, based on the company’s current share price. At the end of the last trading session, Delhivery’s share price stood at Rs 426.35, giving the company a market capitalization of Rs 31,903 crore (approximately $3.54 billion).

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