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Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income

EntrackrEntrackr · 3m ago
Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income
Medial

Unacademy’s total revenue decreased 16% year on year to Rs 826.3 crore in FY25, compared to Rs 988 crore in FY24, according to the internal document reviewed by Entrackr. Despite the year-on-year decrease in total revenue, edtech unicorn Unacademy managed to reduce its EBITDA losses by 37.6% year-on-year in the fiscal year ending March 2025. Moreover, the SoftBank-backed firm also reduced its net losses by 31% year-on-year to Rs 436 crore in FY25. The firm’s EBITDA loss was Rs 305 crore, down from Rs 489 crore in FY24, a 38% reduction due to cost optimization measures. As of March 2025, Unacademy had a cash and cash equivalent balance of Rs 1,238 crore. Recently, Unacademy elevated Sumit Jain, co-founder and head of its Graphy subsidiary, as CEO of its flagship Test Prep business.

Edtech unicorn LEAD cuts losses by 70%; revenue remains flat

EntrackrEntrackr · 3m ago
Edtech unicorn LEAD cuts losses by 70%; revenue remains flat
Medial

Fintrackr All Stories Edtech unicorn LEAD cuts losses by 70%; revenue remains flat Digital learning solutions provider LEAD reported flat revenue for the financial year ended March 2025. However, the company managed to cut its losses by nearly 70% due to stringent cost-control measures. LEAD’s revenue from operations grew marginally by just 0.4% to Rs 351.8 crore in FY25 as compared to Rs 350.5 crore in FY24, its annual financial statements sourced from the Registrar of Companies (RoC) show. LEAD provides integrated curriculum and technology solutions to schools, including books, workbooks, smart classes, teacher training, ERPs, and Math-Science kits, along with teaching aids, devices, and textbooks. During the last fiscal year, revenue from product sales accounted for 78% of the company’s operating income at Rs 275.38 crore, while platform services contributed the remaining Rs 76.5 crore. LEAD also earned Rs 15.6 crore from non-operating activities, bringing its total income to Rs 367.4 crore in the last fiscal year. Like the previous fiscal (FY24), employee benefit costs reduced further in FY25, declining 20% year-on-year to Rs 139.7 crore. It remained the company’s largest expense head, accounting for 34% of total costs. The cost of products declined 12.3% to Rs 110.8 crore in FY25, while travel and conveyance expenses were Rs 23.8 crore. The Mumbai-based company also halved its advertising spend, which stood at Rs 17.23 crore. The company also cut spending on legal and professional fees, and transportation, contributing to a 20% year-on-year decline in overall expenses, which fell to Rs 410.7 crore in the last fiscal year. The controlled burn on employee expenses, cost of materials and reduced its losses by 70% to Rs 43.3 crore in FY25. Notably, the company’s EBITDA (loss) improved by 100%, narrowing to just Rs 1 crore in FY25 from Rs 112.7 crore in FY24. Its ROCE and EBITDA margin stood at -9.7% and -0.28%, respectively. On a unit level, it spent Rs 1.17 to earn a rupee in the last fiscal year. As of FY25, Lead’s current assets were recorded at Rs 370.4 crore with cash and bank balances of Rs 89.5 crore. LEAD has raised over $180 million to date, including a $100 million round in 2022 led by WestBridge Capital that made it a unicorn. According to TheKredible, WestBridge holds the largest external stake at 27.58%, followed by Elevar Equity, while co-founders Sumeet Mehta and Smita Deorah together own 32.7%.

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses

EntrackrEntrackr · 2m ago
Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses
Medial

Darwinbox’s revenue rises to Rs 534 Cr in FY25; narrows adjusted losses International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Kunal Manchanada 17 Oct 2025 18:29 IST HR tech unicorn Darwinbox sustained its growth in FY25, with operating revenue rising 50% year-on-year, aided by international expansion and deeper penetration in existing markets, the firm said in a press release. According to the company, Darwinbox’s revenue from operations grew to Rs 533.9 crore in FY25 from Rs 334 crore in FY24. International markets contributed 63% of new sales, as overseas revenue soared 83% YoY, representing the second consecutive year of over 80% growth. Darwinbox added that its U.S. operations launched two years ago and are beginning to gain meaningful traction, alongside strong adoption in SEA and MENA regions, according to the release. When it comes to the bottom line, the company’s adjusted net loss improved by 12% over FY24, excluding non-cash ESOP expenses. Excluding investments in the U.S. business, the adjusted net loss narrowed 42% year-on-year, as per the press release. Hyderabad-based Darwinbox offers a cloud-based HR management platform covering recruitment, payroll, engagement, talent, and analytics. The firm said most of its revenue comes from Southeast Asia and India. It has over 1,016 enterprise customers globally. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The company also recently granted $21 million in ESOPs to its employees, a development exclusively reported by Entrackr. This follows its Rs 86 crore ($10 million) ESOP buyback in June this year.

Kirana commerce unicorn ElasticRun narrows losses by 60% in FY25

EntrackrEntrackr · 16d ago
Kirana commerce unicorn ElasticRun narrows losses by 60% in FY25
Medial

ElasticRun, a kirana-commerce and logistics platform, stabilised its scale in the fiscal year ending March 2025 after a sharp contraction in the previous year when its revenue had declined by nearly 49%. The company significantly narrowed its losses during the same period. ElasticRun’s gross revenue (GMV) increased 9% to Rs 2,653 crore in FY25, up from Rs 2,435 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). ElasticRun generates revenue by providing a distribution network that allows kirana stores to access branded goods. The company leverages logistics and technology to streamline distribution, primarily in rural and semi-urban areas, though its footprint has spread to key cities as well now. Income from traded goods, which forms 82% of the operating revenue, grew 7.4% to Rs 2,172 crore in FY25. Income from services surged 17.5% to Rs 477 crore in FY25. Including other income, the company’s total income stood at Rs 2,766 crore in FY25, compared to Rs 2,545 crore in the previous fiscal. On the expense side, cost of materials was ElasticRun’s largest expense, accounting for 73% of the total expense. To the tune of scale, this cost increased 5.1% to Rs 2,118 crore in FY25. Employee benefit expenses declined 17.2% to Rs 207 crore. Freight, handling and servicing costs rose modestly by 4.8% to Rs 457 crore in FY25. Overall, the company’s total expenses rose marginally by 0.2% to Rs 2,911 crore in FY25, compared to Rs 2,904 crore in FY24. The optimization of costs and improvement in high-margin service revenue enabled ElasticRun to narrow its losses by 60% to Rs 145 crore in FY25 from Rs 360 crore in FY24. Its ROCE and EBITDA margin improved to -16.96% and -8.44% respectively. On a unit basis, ElasticRun spent Rs 1.10 to earn a rupee during the year, improving from Rs 1.19 in FY24. The company recorded cash and bank balances of Rs 643 crore, while its current assets stood at Rs 1,566 crore and total assets at Rs 1,659 crore in FY25. According to TheKredible, ElasticRun has raised a total of $461 million of funding till date, having Prosus and Avataar Ventures as its lead investors who own 21.36% and 18.68% of the company respectively.

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