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Exclusive: IDfy posts Rs 188 Cr revenue in FY25 while maintaining profitability

EntrackrEntrackr · 1m ago
Exclusive: IDfy posts Rs 188 Cr revenue in FY25 while maintaining profitability
Medial

Exclusive All Stories Exclusive: IDfy posts Rs 188 Cr revenue in FY25 while maintaining profitability According to the startup data intelligence platform TheKredibe, Blume Ventures is the largest external stakeholder with 20.53% followed by Trans Union International, which owns 7.1% of the company. Kunal Manchanada 19 Jul 2025 11:44 IST Identity verification startup IDfy has maintained its growth momentum, achieving 30% year-over-year growth during the previous fiscal year, which ended in March 2025. At the same time, the company is back to profitability, according to two sources and documents reviewed by Entrackr. IDfy’s revenue from operations increased to Rs 188.5 crore in FY25 from Rs 145 crore in FY24, as per the documents. Founded by Ashok Hariharan, Vineet Jawa, and Hatim Baheranwala, IDfy builds technology products that help businesses authenticate individuals and entities with minimal friction. The professional fees collected from the clients for providing services are the primary revenue stream for the company. The Mumbai-based company claims to serve over 1,500 clients across various sectors, including BFSI, FMCG, e-commerce, gaming, the sharing economy, and large conglomerates. According to IDfy, it has impacted more than 150 million lives and processes over 60 million verifications every month. IDfy’s decent revenue growth, coupled with controlled costs, helped the company post a notable profit of Rs 7.8 crore in FY25. In comparison, the company had reported a loss of Rs 8.8 crore in FY24. Responding to Entrackr's queries, an IDfy spokesperson said, "Since the numbers are unaudited we cannot comment on or respond to this." IDfy has raised over $50 million in total funding so far, including a $27 million round comprising both primary and secondary components from Elev8, KB Investment, and Tenacity Ventures in March last year. According to the startup data intelligence platform TheKredibe, Blume Ventures is the largest external stakeholder with 20.53% followed by Trans Union International, which owns 7.1% of the company. IDfy competes with several players in the identity verification and fraud prevention space, including Delhi-based AuthBridge, which raised $7 million from Phi Capital; Groww-backed Digio, Karza, owned by Perfios; SpringVerify, and a few others. With digital onboarding and compliance becoming essential across sectors, the identity verification and fraud prevention space is expanding rapidly. IDfy, with revenue nearing Rs 190 crore in FY25 and continued profitability, is emerging as a key player driving this momentum. Backed by strong growth and deep-tech capabilities, the company has marked a solid position for itself. Let’s see where it goes from here.

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Awfis income crosses Rs 300 Cr in Q2 FY25, posts Rs 38 Cr PAT

EntrackrEntrackr · 9m ago
Awfis income crosses Rs 300 Cr in Q2 FY25, posts Rs 38 Cr PAT
Medial

Co-working solutions provider Awfis has registered decent growth in its revenue while maintaining profitability in the second quarter of FY25. The company’s revenue from operations surged 40.5% year-on-year to Rs 292.38 crore in Q2 FY25 from Rs 208.15 crore in the same quarter last year. Other income contributed an additional Rs 9.56 crore which drove its total income of Rs 301.95 crore for the quarter. On a quarterly basis, the firm's revenue jumped 13.46% from Rs 258 crore in Q1 FY25. Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions. Revenue from co-working spaces remained the largest segment that grew 43.1% to Rs 218.31 crore in Q2 FY25 from Rs 152.56 crore in Q2 FY24. The construction and fit-out projects segment brought in Rs 68.15 crore, while other services brought in Rs 5.9 crore to the overall revenue in Q2 FY25. Subcontracting cost was the largest burn which stood at Rs 56.13 crore, whereas employee benefits expenses increased to Rs 39.38 crore. Depreciation and amortization expenses grew 33.5% YoY to Rs 64 crore. Finance costs amounted to Rs 30.4 crore which pushed the firm’s total cost to Rs 287.29 crore in the September quarter. With an exceptional item income of Rs 24 crore, Awfis posted a profit after tax of Rs 38.67 crore. Awfis’ stock was listed on the NSE on May 30, opening at Rs 435 with a 13.58% premium over the issue price of Rs 383. Before Monday’s market closure, the company’s shares were trading at Rs 776.

Urban Company posts Rs 1,144 Cr revenue and Rs 28.5 Cr PBT in FY25

EntrackrEntrackr · 2m ago
Urban Company posts Rs 1,144 Cr revenue and Rs 28.5 Cr PBT in FY25
Medial

Home services marketplace Urban Company recorded a 38.2% year-on-year revenue growth to Rs 1,144 crore during the fiscal year ended March 2025 (FY25), according to its annual report. The company also swung to profitability in FY25 from a significant loss in FY24. Urban Company claims to have completed 6.8 million annual customer transactions across 17 super categories in 51 cities with a total net transaction value of Rs 3,115 crore (India+International). Urban Company offers a wide range of home services, including spa and salon treatments, AC repairs, electrical work, painting, wall panel installations, pest control, and more. It also generates revenue through the sale of its water purifier (native) and products sold to service professionals. Platform services continued to be the largest revenue driver for Urban Company, contributing 64.8% of its total operating income, which rose 32.5% to Rs 742 crore in FY25. Revenue from customer memberships grew marginally by 7.7% to Rs 98 crore. On the product sales front, the company saw a sharp 300% jump in revenue from its native water purifier, which surged to Rs 116 crore in FY25 from Rs 29 crore in FY24. The remaining Rs 188 crore came from product sales to service professionals. Of its total operating revenue, Rs 997 crore was generated from India, including the sale of water purifiers, while the remaining Rs 147 crore came from its international operations. It also added Rs 117 crore from interest and profits from the sale of mutual funds, which tallied the overall income to Rs 1,261 crore in FY25 from Rs 928 crore in FY24. Employee benefits emerged as the largest cost center for Urban Company in FY25, accounting for 28.6% of the total expenditure. This expense remained flat at Rs 350 crore, which includes a non-cash ESOP cost of Rs 72.5 crore. Spending on advertising and business promotion also held steady at Rs 207 crore during the year. Other cost heads, including materials, professional incentives, freight, payment gateway charges, outsourced support, and overheads, pushed the company’s total expenditure to Rs 1,223 crore in FY25, up from Rs 1,021 crore in FY24. According to its annual report, Urban Company’s India consumer services segment posted a profit of Rs 113 crore in FY25. However, its native water purifier vertical and international operations reported losses of Rs 38.7 crore and Rs 33.7 crore, respectively. The year-on-year growth, coupled with controlled expenditure, particularly in employee benefits and advertising, helped Urban Company to post a PBT (profit before tax) of Rs 28.5 crore in FY25, compared to a loss of Rs 92.7 crore in FY24. Its ROCE and EBITDA margin improved to a positive 2.46% and 6.68%, respectively, in FY25. On a unit level, it spent Rs 1.07 to earn a rupee of operating revenue. By the end of FY24, the company’s total current assets were recorded at Rs 1671 crore, with cash and bank balances of Rs 590 crore. Urban Company is set to launch its initial public offering (IPO). In April, the company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 429 crore (approximately $50 million) through a fresh issue and an offer for sale (OFS) of Rs 1,471 crore. Urban Company, once enjoying a relatively uncontested market, is now facing growing competition from emerging startups such as Snabbit and Pronto. Meanwhile, Swiggy has also entered the on-demand professional services segment with its offering, Pyng.

Kissht posts Rs 1,337 Cr revenue in FY25 with Rs 161 Cr profit

EntrackrEntrackr · 1d ago
Kissht posts Rs 1,337 Cr revenue in FY25 with Rs 161 Cr profit
Medial

Kissht posts Rs 1,337 Cr revenue in FY25 with Rs 161 Cr profit Digital lending platform Kissht has filed draft papers with SEBI. While the company’s financial numbers appear attractive compared to many other IPO-bound startups, both its revenue and profit declined in FY25. Kissht’s operating revenue fell 20% to Rs 1,337 crore in FY25 from Rs 1,674 crore in FY24, according to its restated consolidated financial statements sourced from the Registrar of Companies (RoC). Kissht makes money from interest income and sourcing & servicing fees. Interest on loans slipped 18% to Rs 994 crore, while sourcing and servicing fees grew to Rs 238 crore. Other income streams such as marketing and commission income and insurance commission contributed Rs 7 crore and Rs 3 crore, respectively, during the last fiscal year. As per the company’s DRHP, revenue from operations dropped 20% primarily due to lower income from on-book loans. Interest on loans declined despite higher on-book AUM, as the company adopted competitive pricing and originated longer-tenure loans, which deferred recognition of processing fees. Other fees and charges also fell sharply on account of improved borrower quality and lower bounce rates. However, revenue from off-book loans increased, with sourcing and servicing fees rising 45%, supported by growth in the off-book loan portfolio. On the cost side, impairment on financial instruments was the largest expense, which halved to Rs 327 crore. Outsourcing and back-office expenses fell 32% to Rs 150 crore, while marketing spend declined 11% to Rs 96 crore. Finance cost surged more than two-fold to Rs 164 crore, and employee benefit expenses rose 6.6% to Rs 193 crore. At the end of the last fiscal year, its total expenses declined 21% to Rs 1,136 crore in FY25 from Rs 1,433 crore in FY24. The combination of lower revenue and higher fixed costs led to a contraction in profitability for Kissht. Its net profit declined 18.5% year-on-year to Rs 160.6 crore in FY25 from Rs 197 crore in FY24, while ROCE and EBITDA margin stood at 28.88% and 29.79%, respectively. On a unit level, Kissht spent Rs 0.85 to earn a rupee of operating revenue in FY25. As of March 2025, the company recorded current assets worth Rs 2,161 crore including Rs 144 crore in cash and bank balances.

Milky Mist posts Rs 2,349 Cr revenue in FY25, profit jumps over 2.4X

EntrackrEntrackr · 1m ago
Milky Mist posts Rs 2,349 Cr revenue in FY25, profit jumps over 2.4X
Medial

Milky Mist posts Rs 2,349 Cr revenue in FY25, profit jumps over 2.4X Dairy company Milky Mist has filed its draft red herring prospectus (DRHP) with the Securities Exchange Board of India to raise up to Rs 2,035 crore through an initial public offering (IPO). The company's financial report for FY25 indicates a 2.4X spike in its profit with a decent growth in revenue. Milky Mist’s revenue from operations grew 29% to Rs 2,349 crore in FY25 from Rs 1,822 crore in FY24, according to its restated financial statement sourced from the DRHP. Paneer remained Milky Mist’s top-selling product in FY25 with Rs 694 crore in revenue, followed by cheese at Rs 408 crore and curd at Rs 370 crore. Ice cream emerged as the fastest-growing segment with a 294% jump to Rs 138 crore, while other products like ghee, milk, and beverages brought in Rs 739.5 crore. Regionally, Karnataka and Tamil Nadu led the charts with nearly equal contributions, while West India (Rs 418 crore) and North-Central India (Rs 116 crore) posted the highest growth at 49% and 55%, respectively. Export revenue also surged 43% to Rs 88.5 crore. On the expense front, the cost of materials continued to be the biggest outlay, growing 24% to Rs 1,553 crore in FY25. Employee benefit expenses rose to Rs 145 crore, while depreciation and finance costs increased to Rs 136 crore and Rs 86 crore, respectively. Notably, selling and distribution costs jumped over 134% to Rs 122 crore. Overall, total expenses increased 27% to Rs 2,267 crore in FY25 from Rs 1,784 crore a year earlier. Milky Mist ended the year with a return to strong profitability, with a spike of 2.4X to Rs 46 crore in FY25 from Rs 19 crore in FY24. Its ROCE and EBITDA margin stood at 11.57% and 13.14% respectively. The company spent Rs 0.96 to earn a rupee of operating revenue in FY25. The company reported current assets worth Rs 419 crore, including Rs 21 crore in cash and bank balance. As per the DRHP, Anitha S is the largest shareholder with a 51.45% stake in Milky Mist, followed by T. Sathishkumar who owns 40.94%. Aquarius Family Private Trust and Taurus Family Private Trust hold 2.5% each in the company. JM Financial, Axis Capital, and IIFL Securities are the book-running lead managers for the IPO.

Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25

EntrackrEntrackr · 7m ago
Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
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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.

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%

EntrackrEntrackr · 2m ago
Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%
Medial

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20% Digital payments firm Infibeam has reported a 62% increase in revenue during the fourth quarter of the last fiscal year (Q4 FY25), while its year-on-year profit rose by 20%. Infibeam’s revenue from operations increased to Rs 1,160 crore in Q4 FY25 from Rs 716 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Infibeam’s operating revenue increased 27% to Rs 3,992 crore in FY25 from Rs 3,150 crore in FY24. Payment business accounted for 95% of its total collection which increased by 64% to Rs 1,098 crore in Q4 FY25. Meanwhile, there was a 35% increase in the e-commerce platform business, which rose to Rs 62 crore. The Ahmedabad-based firm recorded a total revenue of 1,180 crore in Q4 FY25. For the full fiscal year (FY25), its total income stood at Rs 4,066 crore. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. On the cost side, the company’s total expenses rose by 66% to Rs 1,104 crore in Q4 FY25. For the digital payment firm, its payment processing was the largest cost center, rising by 68% to Rs 1,025 crore. Employee benefits increased by 30% to Rs 39 crore, while depreciation cost grew 6% to Rs 18 crore. Infibeam Avenues also incurred Rs 22 crore on other undisclosed expenses in the said quarter. For the fiscal year ending March 2025, the firm’s total expenses increased to Rs 3,768 crore. In the end, the company reported profit after tax of Rs 55 crore in Q4 FY25, 20% up from Rs 46 crore in Q4 FY24. On a fiscal year basis, its profit increased to Rs 236 crore in FY25 from Rs 156 crore in FY24. At 15:31 PM today, its market cap stood at Rs 5,579 crore while the firm’s stock was trading at Rs 20.

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25

EntrackrEntrackr · 2m ago
Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25
Medial

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25 Gaming and sports media firm Nazara Technologies reported a 95% year-on-year rise in operating revenue for Q4 FY25. However, the Mumbai-based company’s profit remained modest at Rs 4 crore in the final quarter of the previous fiscal year. Nazara’s operating revenue rose by 95.3% to Rs 520 crore in Q4 FY25 from Rs 266 crore in Q4 FY24, according to its audited consolidated financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 41.5% (Rs 216 crore) of the company’s total operating revenue, while the gaming segment held a 30% share (Rs 156 crore), followed by ad tech, which contributed 28% (Rs 148 crore). Nazara also earned Rs 18 crore from interest and gains on financial assets during the quarter, bringing its overall revenue to Rs 539 crore. However, the company posted a 40.8% YoY increase in its total income to Rs 1,715 crore in FY25, compared to Rs 1,218 crore in FY24. On the line of scale, Nazara’s total expenses surged by 85.3% to Rs 528 crore in Q4 FY25, compared to Rs 285 crore in the same quarter last year. Content and commission costs together stood at Rs 186 crore, while employee benefit expenses rose to Rs 80 crore. Notably, marketing expenses saw a sharp 3.5X jump, reaching Rs 151 crore in Q4 FY25. Despite a 95% year-on-year revenue growth in Q4, the company’s profit remained flat at Rs 4 crore in Q4 FY25. For the full fiscal year, its net profit declined to Rs 51 crore in FY25 from Rs 74.7 crore in FY24. Last week, the Competition Commission of India (CCI) also approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. Nazara is currently trading at Rs 1,270 (as of 03.41 PM) with a total market capitalization of Rs 11,127 crore (approximately $1.3 billion).

Exclusive: KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24

EntrackrEntrackr · 11m ago
Exclusive: KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24
Medial

KreditBee’s non-banking financial corporation (NBFC) arm, Krazybee, demonstrated notable growth in the fiscal year ending March 2024 (FY24), nearly doubling its revenue and tripling its profit. Krazybee’s revenues rose to Rs 1,399 crore in FY24 from Rs 717 crore in FY23, according to its standalone annual financial statement sourced by Entrackr. Krazybee, which facilitates personal loans through both its own and third-party NBFCs and banks, saw its interest income surge 2.5X to Rs 1,225.83 crore in FY24. Income from fees and commissions contributed an additional Rs 169 crore, bringing the firm’s total revenue to Rs 1,400 crore in FY24. On the expense side, Krazybee’s total expenses spiked by 80%, rising to Rs 1,132 crore in FY24 from Rs 630 crore in FY23. The amortized cost of loans accounted for 38% of the total expenses, increasing by 74% to Rs 432 crore. Finance costs grew by 43% to Rs 235 crore in the same period. One of the most notable expense shifts was the five-fold increase in employee benefit costs, which jumped to Rs 188 crore in FY24. In contrast, commissions and fees paid to other platforms saw a 24% decline. The 95% jump in scale and controlled expenditure helped Krazybee to multiply its profit by 3X to Rs 200 crore in FY24 from Rs 65 crore in FY23. The company’s Return on Capital Employed (ROCE) improved to 10.5%, while its EBITDA margin stood at 36%. On a unit level, Krazybee NBFC spent Rs 0.81 to earn a rupee of operating revenue in FY24. KreditBee has raised approximately $410 million across various funding rounds. According to startup data platform TheKredible, Premji Invest and Newquest Capital are the largest external stakeholders, followed by Alpine Capital, Motilal Oswal Group, and others. fy_table title =”FY23-FY24″ logo=”https://entrackr.com/storage/2024/09/Krazybee.png” chart_item=”FY23,FY24″ data=”EBITDA Margin,35%,36%:Expense/₹ of Op Revenue,₹0.88,₹0.81:ROCE,9%,10.5%”] KreditBee was valued at around $700 million during its latest tranche in March. The company is also planning to shift its domicile to India from Singapore. The reverse flip will smoothen it’s road to initial public offering (IPO). Entrackr exclusively reported the development in April.

Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr

EntrackrEntrackr · 3d ago
Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr
Medial

Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr Drone technology startup Garuda Aerospace reported a modest growth in the last financial year ending March 31, 2025. The Bengaluru-based firm maintained profitability, supported by steady revenue growth and cost discipline. Garuda’s revenue from operations increased 7.3% to Rs 118 crore in FY25 from Rs 110 crore in FY24, as per its unaudited financial statements filed with the Registrar of Companies (RoC). Garuda Aerospace designs, manufactures and customizes Unmanned Aerial Vehicle (UAVs or drones) for various use cases such as deliveries, disaster management and agriculture. The company made additional Rs 7 crore from other income, which increased its total income to Rs 125 crore in FY25, from Rs 111 crore in FY24. Looking at the expenses, the cost of materials, which formed the largest expense, rose 14% to Rs 56 crore in FY25 from Rs 49 crore a year ago. Employee benefit expenses declined 12% to Rs 9.23 crore, while finance costs halved to Rs 1 crore during the same period. Depreciation, however, increased to Rs 3 crore in FY25 from Rs 2 crore in FY24. Overall, Garuda’s total expenses grew 13% to Rs 100.5 crore in FY25 as against Rs 89 crore in FY24. Despite higher spending, the company managed to expand its bottom line, with profit after tax (PAT) rising 9.4% to Rs 17.5 crore in FY25, from Rs 16 crore in FY24. Its ROCE and EBITDA margin stood at 14.37% and 22.4% respectively. On a unit level, Garuda spent Rs 0.85 to earn a rupee of revenue during the fiscal year. The company recorded current assets worth Rs 179 crore. According to startup data intelligence platform TheKredible, Garuda Aerospace has raised approximately $44 million to date from investors such as Nagarajan Seyyadurai, Ocgrow Ventures, cricketer MS Dhoni and others. Garuda operates a fleet of 400 drones and 500 pilots across 84 cities. The company recently raised funds from Narotam Sekhsaria Family Office to scale up manufacturing capacity from the current 8,000 drones annually to between 12,000 and 15,000 units. It will also expand its export presence to 50 countries by the year-end.

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