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

EntrackrEntrackr · 1m 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.

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Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses

EntrackrEntrackr · 4m ago
Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses
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Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24 and managed to narrow its EBITDA losses, as per the company’s press release. Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24, as per the company’s press release. The Gurugram-based firm also managed to reduce its EBITDA losses from -38% to -21% during the same period. Founded by Aditya Kandoi, Redcliffe operates a nationwide network of over 80 labs and claims to have the widest home sample collection footprint in the country. Diagnostic services contributed over 95% of the company’s revenue in FY25, with the rest coming from product sales and other operating income. The company said it diagnosed over 2.5 million cases last fiscal and continues to focus on expanding in underserved regions, with more than 70% of its testing volumes now coming from Tier II cities and beyond. On the profitability front, Redcliffe reported a gross margin of 70% in FY25 and is aiming to expand it to 74% in FY26. It has also set a revenue target of Rs 560 crore for the ongoing fiscal through organic growth and strategic acquisitions. “We are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,” said Kandoi. The company plans to expand its presence to over 300 cities with 150 labs by FY28. According to startup data platform TheKredible, Redcliffe has raised $113 million to date, including a $42 million Series C round led by LeapFrog. It also acquired Bengaluru-based Celara Diagnostics in a $7 million deal. Redcliffe competes with players like PharmEasy-owned Thyrocare, Tata 1mg, and Healthians.

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

EntrackrEntrackr · 1m ago
Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%
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Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37% Flipkart Internet, the B2B arm of Walmart-owned Flipkart, reported a 14% year-on-year rise in revenue, crossing the Rs 20,000 crore mark in the fiscal year ending March 2025. The Bengaluru-based firm also reduced its losses by 37%, bringing them below Rs 1,500 crore during the same period. Flipkart Internet’s revenue from operations increased to Rs 20,493 crore in FY25, from Rs 17,907 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Flipkart’s revenue is driven by marketplace, logistics, and advertising services. Income from marketplace services more than doubled to Rs 7,751 crore in FY25 from Rs 3,734 crore in FY24, contributing 38% to operating revenue. Advertising income surged 27% to Rs 6,317 crore, making up 31% of the topline. However, revenue from logistics services declined by 38% to Rs 4,224 crore, reducing its share to 21%. The firm made an additional Rs 314 crore from non-operating sources, which pushed its total revenue to Rs 20,807 crore in the last fiscal year (FY25). On the cost side, the largest cost head remained logistics service charges, which increased 9% to Rs 7,144 crore, accounting for 32% of total expenses. Employee benefit expenses declined 8% to Rs 4,748 crore, while marketing costs rose sharply by 37% to Rs 4,100 crore, making up 18% of overall costs. Collection charges stood at Rs 2,693 crore (12.1% of expenses) and legal/professional fees at Rs 1,394 crore. Overall, Flipkart Internet’s total expenses grew 8% to Rs 22,311 crore in FY25 from Rs 20,627 crore in FY24. Flipkart Internet managed to cut its losses by 37% to Rs 1,494 crore in FY25, from Rs 2,359 crore in FY24. Its EBITDA losses narrowed to Rs 1,078 crore in FY25 from Rs 1,869 crore in FY24, with the EBITDA margin improving from -10.25% to -5.18%. On a unit level, Flipkart spent Rs 1.09 to earn a rupee in FY25, better than Rs 1.15 in FY24. The company’s current assets stood at Rs 11,952 crore, while cash and bank balances rose to Rs 187 crore.

Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%

EntrackrEntrackr · 1m ago
Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%
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Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24% Hector Beverages Pvt Ltd, maker of Paper Boat drinks, saw steady growth in FY25, with a 16% year-on-year rise in operating scale and a 24% reduction in losses to under Rs 50 crore. Hector Beverages Pvt Ltd, maker of Paper Boat drinks, pursued steady growth in the fiscal year ending March 2025. The company recorded a modest 16% year-on-year increase in operating scale in the last fiscal year, while narrowing its losses by 24% to below Rs 50 crore. Paper Boat’s operating revenue rose to Rs 668.28 crore in FY25 from Rs 574.48 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) shows. Founded by former Coca-Cola executives Neeraj Kakkar and Niraj Biyani, Paperboat offers packaged juices, coconut water, traditional Indian snacks, and dry fruits. Products traded through third-party manufacturers contributed 66% of its operating revenue. Collection from this spiked 45% to Rs 441.43 crore in FY25 from Rs 304.32 crore in FY24. In contrast, revenue from its own manufactured products, which made up 33.78% of the total, declined 16% to Rs 225.72 crore during the fiscal year. Paper Boat also earned a non-operating income of Rs 14.2 crore, mainly from interest on bank deposits, taking its total income to Rs 682.44 crore. On the expense side, the cost of materials remained the largest component, which accounted for 62% of total expenses at Rs 444 crore in FY25. Employee benefit expenses rose 32% to Rs 90.35 crore, while selling and distribution costs stood at Rs 58.47 crore, and depreciation, travel, and other overheads pushed overall expenses to Rs 716.53 crore. The Peak XV-backed company cut its losses by 24% to Rs 48.25 crore in FY25, with ROCE at -14% and EBITDA margin at -3.86%. On a unit basis, it spent Rs 1.07 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 276.17 crore, including cash and bank balances of Rs 42.39 crore. According to startup data intelligence platform TheKredible, Paperboat has raised $143 million to date from investors including GIC, Peak XV, Sofina Ventures, and A91 Partners. GIC holds a 25% stake in the company, while Sofina and Peak XV each own over 18%.

Unacademy narrows down losses by 62% in FY24; revenue remains flat

EntrackrEntrackr · 1y ago
Unacademy narrows down losses by 62% in FY24; revenue remains flat
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Unacademy recorded Rs 988.4 crore in total revenue during FY24, a 5.33% decline compared to Rs 1,044 crore in FY23. However, the SoftBank-backed firm cut its losses by 62%, reducing them to Rs 631 crore in the fiscal year ending March 2024 from Rs 1,678 crore in FY23. Unacademy managed to narrow its losses through cost-cutting measures, including restructuring, according to a document reviewed by Entrackr. According to TheKredible, Unacademy’s operating revenue grew by 26.15% to Rs 907 crore in FY23, up from Rs 719 crore in FY22. Unlike FY23 and FY24, the firm’s revenue has now been largely dependent on the offline model. Unacademy’s online business grew massively during the pandemic (FY21 and FY22), but the entire edtech space lost momentum after the reopening of offline educational institutions, including coaching centers and colleges. The company’s EBITDA loss also improved, decreasing to Rs 489 crore during FY24 from Rs 1,553 crore in FY23. At the same time, the edtech firm had Rs 1,573 crore in cash and cash equivalents as of March 2024. Unacademy connects educators and learners in various fields by offering a range of courses. The company generates revenue through subscriptions to both online and offline learning services. According to documents, FY24 marked a significant improvement in cost efficiency, and the cost rationalization initiatives undertaken during the year are expected to yield positive results in FY25 and beyond. For context, in August 2024, Unacademy announced it would not be providing appraisals for employees in 2024. Founder Gaurav Munjal stated that the company has a strong financial runway and is not at risk of survival. To streamline operations and improve efficiency, the Bengaluru-based company also laid off 250 employees. These financial developments come at a time when Unacademy is considering merger and acquisition opportunities. In June, Entrackr exclusively reported that the SoftBank-backed firm was in early talks to merge with K12 Techno, which runs the chain of Orchids International Schools. In terms of fundraising, Unacademy has not raised capital for over three years. Its last equity round was a $440 million Series H in August 2021, at a valuation of $3.44 billion.

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

EntrackrEntrackr · 28d ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
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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.

Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25

EntrackrEntrackr · 4d ago
Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25
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Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25 Euler’s revenue grew by 12% during the fiscal year ending March 2025. The Delhi-based firm also managed to limit losses at a similar rate during the year. Commercial electric vehicle startup Euler Motors raised Rs 638 crore in its Series D round in May 2025, led by Hero MotoCorp. While the impact of this funding is likely to reflect in its FY26 numbers, Euler’s revenue grew by 12% during the fiscal year ending March 2025. The Delhi-based firm also managed to limit losses at a similar rate during the year. Euler Motors’ revenue grew 12% year-on-year to Rs 192.26 crore during the last fiscal year as compared to Rs 170.82 crore in FY24, according to the company’s annual financial statement with the RoC. The company primarily manufactures and sells electric vehicles. According to Vahan data, it sold around 3,305 electric vehicles in FY25, generating Rs 173 crore from vehicle sales, while battery, accessories, and other operating income contributed an additional Rs 12 crore to its total operating revenue. Euler Motors also earned Rs 14.73 crore in non-operating income including interest income, which pushed its total revenue to Rs 206 crore in FY25. On the expense side, material costs remained the biggest expenditure, making up 47.5% of total expenses at Rs 192 crore in FY25. This cost was reduced by 10% compared to FY24. Employee benefit expenses rose 46% year-on-year to Rs 74.4 crore in FY25. Security and manpower service costs also jumped 55% to Rs 24.44 crore during the year, while finance costs and depreciation and amortization expenses stood at Rs 17.3 crore and Rs 18.46 crore, respectively. Further, advertising expenses surged 4.6X to Rs 12.77 crore in FY25 from Rs 2.75 crore in FY24. Other overheads including rent, R&D, travel, professional fees, transportation, repair and maintenance, software, and other expenses added Rs 64.8 crore to the total cost. Overall expenditure remained flat compared to FY24, at around Rs 404 crore. In the end, a 12% rise in operating revenue, coupled with higher non-operating income and controlled spending, helped the Hero MotoCorp-backed company reduce its losses by 12% to Rs 200 crore in FY25. On a unit level, Euler spent Rs 2.11 to earn a rupee of operating income. Its EBITDA margin and ROCE improved to -92.6% and -93.7% respectively. As on March 2025, the company’s current assets stood at Rs 214.3 crore, including cash and bank balances of Rs 95 crore. According to startup data platform TheKredible, the Delhi-based firm has raised over $200 million to date, with Hero MotoCorp, GIC, and British International Investment among its lead investors.

BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr

EntrackrEntrackr · 1m ago
BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr
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BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Fintech unicorn BharatPe witnessed a turnaround in the previous fiscal year as it recorded steady growth in scale while achieving EBITDA profitability. The company also managed to significantly cut down its losses, which shrank by over 80% during FY25. BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Service fee income, which includes processing charges, commission on loan transactions, and rental income from the sale of machines and loudspeakers, remained the largest revenue driver for BharatPe, contributing 77.6% of operating revenue. This stream grew 15.8% year-on-year to Rs 1,456 crore in FY25. Revenue from the NBFC business rose to Rs 211 crore in FY25 from Rs 165 crore in FY24. Moreover, the company booked Rs 67 crore in non-operating income, pushing its total revenue to Rs 1,734 crore during the year. For BharatPe, transaction processing expenses accounted for 20.8% of the overall cost base at Rs 391 crore in FY25. Employee benefits remained steady at Rs 360 crore, which includes Rs 148.5 crore as ESOP (share-based payments). Its advertising spend saw a sharp 84% reduction to Rs 26 crore during the year. Other overheads, including outsourced services, merchant onboarding, and IT expenses, pushed the company’s total expenditure to Rs 1,876 crore in the fiscal year ending March 2025. The decent growth in scale, coupled with an effective cost mechanism, helped BharatPe to reduce its losses by 82.1% to Rs 88 crore in FY25 from Rs 492 crore in FY24. Notably, BharatPe reported a positive EBITDA of Rs 47 crore in FY25. Stripping out ESOP-related expenses, the company’s adjusted EBITDA would stand at Rs 195.5 crore for the year. BharatPe’s ROCE and EBITDA margins also improved to -3.8% and 2.82% respectively, in FY25. On a unit level, it spent Rs 1.13 to earn a rupee in FY25. At the end of the previous fiscal year, the company had total current assets of Rs 2,685 crore with cash and bank balances of Rs 872 crore. Earlier this month, BharatPe facilitated its first secondary transaction since 2021 at a valuation of $2.85 billion. To date, the fintech unicorn has raised over $650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue, and others.

XpressBees' losses soar 85% to Rs 370 Cr in FY25 amid flat revenue

EntrackrEntrackr · 3d ago
XpressBees' losses soar 85% to Rs 370 Cr in FY25 amid flat revenue
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XpressBees' losses soar 85% to Rs 370 Cr in FY25 amid flat revenue E-commerce-focused logistics company XpressBees reported flat growth in the fiscal year ending March 2025, while its losses jumped 85% to Rs 370 crore in the same period due to higher logistics, facility, and finance costs. XpressBees’ revenue from operations grew marginally to Rs 2,874 crore in FY25 from Rs 2,831 crore in FY24, according to its consolidated financial statements. Income from the courier services accounted for 96% of the operating income, which stood at Rs 2,772 crore in FY25. The other operating income includes Warehousing Fulfilment Service, the sale of scrap, and other support services. It also added Rs 87 crore, mainly from interest on bank deposits, which took the overall income to Rs 2,961 crore in FY25, compared to Rs 2,940 crore in FY24. For the logistics firm, freight and handling remained the largest cost center, forming 73% of the overall which recorded at Rs 2,462 crore in FY25. Its Employee benefits, transportation, and technology costs remained the other contributors, taking the overall cost to Rs 3,334 crore in FY25, compared to Rs 3,143 crore in FY24. At the end, XpressBees’ net loss widened 85% to Rs 370 crore in FY25 against Rs 200 crore in the previous fiscal, while EBITDA losses jumped to Rs 228 crore compared with Rs 102 crore a year earlier. Its EBITDA margin deteriorated to -7.9%, nearly double the previous year’s deficit of -3.6%. On the balance sheet front, total assets contracted 18% to Rs 2,133 crore as the company pared down its cash holdings and investments. Cash and cash equivalents also plunged 87% to Rs 172 crore from Rs 1,331 crore in FY24, reflecting reduced liquidity and possible repayment of liabilities. Current assets also slipped 23% year-on-year to Rs 1,438 crore. The firm’s return on capital employed (ROCE) worsened to -29.3% from -14.1% in FY24, while the company spent Rs 1.16 to earn a rupee in FY25. XpressBees has been expanding its warehousing and B2B logistics verticals while facing pricing pressure in its core e-commerce parcel business, where large clients have renegotiated rates. Despite scaling its network and automation footprint, the Pune-based company’s cost base grew faster than revenue in FY25.

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 2m ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

Exclusive: Eldercare platform Emoha reports Rs 74.35 Cr revenue in FY25, cuts losses by 32%

EntrackrEntrackr · 2m ago
Exclusive: Eldercare platform Emoha reports Rs 74.35 Cr revenue in FY25, cuts losses by 32%
Medial

Eldercare platform Emoha reported strong growth in the financial year ending March 2025, with the Gurugram-based company managing to control its losses while keeping expenses steady. On a year-on-year basis, the eldercare platform’s revenue from operations surged 40% to Rs 74.35 crore in FY25, up from Rs 53.21 crore in FY24. The FY25 numbers are based on provisional financial statements sourced from company filings. Emoha is an at-home senior care provider that offers a comprehensive range of support services for senior citizens. Its revenue comes from services such as 24/7 emergency support, health monitoring, medical equipment rentals, lab and diagnostic services, among others. The Gurugram-based company also earned Rs 37 lacs of non-operating income, which took the company's total revenue to Rs 74.72 crore. On the cost front, employee benefit expenses remained the largest cost centre, accounting for 42% of the firm’s overall expenses at Rs 46.8 crore in FY25, down 14% from Rs 54.2 crore in the previous fiscal. While a detailed expense breakdown was not provided, other operational costs stood at Rs 64 crore, likely comprising nursing services, medical consumables, equipment rentals, marketing and other expenses. Overall, total expenses remained flat at Rs 111.4 crore. The company’s control cost mechanism and improvement in revenue helped in reducing the losses by 32% to Rs 36.68 crore, compared to Rs 54.16 crore in FY24. Its ROCE and EBITDA margin stood at -33.49% and -48.86% respectively. On a unit level, Emoha spent Rs 1.5 to earn a rupee of revenue during the fiscal year. These figures are provisional, as the company has not yet officially filed its financial statements for FY25. According to startup data intelligence platform TheKredible, Emoha has raised about $16 million to date, including an $11 million round led by Nikhil Kamath-backed Gruhas and Rainmatter Capital.

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