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Furlenco’s FY24 Operating Revenue Declines 10%, Net Loss Down 2.3%

Inc42 · 9m ago

Furlenco’s FY24 Operating Revenue Declines 10%, Net Loss Down 2.3%

Furniture rental company Furlenco experienced a decline in operating revenue by 10.4% to INR 139.56 Cr in FY24. Total revenue, including other income, also decreased by 3.54% to INR 151.90 Cr. Moreover, the net loss slightly widened to INR 129.97 Cr in FY24, a 2.3% increase compared to the previous year.

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CarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

Inc42 · 1y ago

CarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

CarTrade Technologies, the online classifieds and auto auction platform, reported a net loss of INR 23.5 Cr in Q3 FY24, mainly due to the loss in the auto sales division of OLX business that it shut down during the quarter. However, excluding the discontinued operations, CarTrade posted a net profit of INR 21.96 Cr. Its operating revenue increased by over 42% to INR 138.6 Cr in Q3 FY24. CarTrade received an average of 70 million monthly unique visitors, with more than 90% being organic.

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Inc42 · 1y ago

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Yudiz Solutions reported a net profit of INR 1.33 crore in the first half of FY24, but recorded a loss of INR 4.2 crore in the second half. The company's operating revenue declined to INR 10.3 crore in H2 FY24 from INR 15.9 crore in H1 FY24, representing a year-on-year decrease of 37.2%. In FY23, Yudiz achieved a net profit of INR 2.7 crore on an operating revenue of INR 27.3 crore.

BlueStone's FY24 operating revenue surpasses ₹1,000 crore mark

Inshorts · 10m ago

BlueStone's FY24 operating revenue surpasses ₹1,000 crore mark

Omnichannel jewellery brand Bluestone managed to narrow its loss by almost 15% year-on-year (YoY) to ₹142.2 crore in the financial year 2023-24 (FY24), while its operating revenue surpassed the ₹1,000 crore mark. The startup had posted a net loss of ₹167.2 crore in FY23 on an operating revenue of ₹770.7 crore.

Deloitte flags lapses in Dailyhunt parent VerSe Innovation’s FY24 accounts

Economic Times

Economic Times · 3m ago

Deloitte flags lapses in Dailyhunt parent VerSe Innovation’s FY24 accounts

Deloitte has identified financial reporting issues in VerSe Innovation's FY24 accounts, highlighting potential misstatements due to inadequate internal controls over supplier selection and payments. Concerns include unexplained invoices and changes in previous figures, with potential preferential treatments and misappropriations. Despite these lapses, VerSe reported a reduced net loss of Rs 889 crore, down 54% from the previous year, while operating revenue slightly decreased from Rs 1,104 crore in FY23 to Rs 1,029 crore in FY24.

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Inc42 · 10m ago

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Swiggy's net loss for FY24 was INR 2,350 Cr, a decrease from the previous year's loss of INR 4,179.3 Cr. However, its operating revenue saw a 36% increase, reaching INR 11,247.3 Cr compared to INR 8,264.5 Cr in FY23. The company also improved its EBITDA margin from -46.4% in FY23 to -16.2% in FY24.

Physics Wallah In The Red, Posts INR 1,131 Cr Loss In FY24

Inc42 · 9m ago

Physics Wallah In The Red, Posts INR 1,131 Cr Loss In FY24

The loss in FY24 increased due to changes in fair value of CCPS and higher ESOP and employee expenses. Physics Wallah also adjusted its FY23 net profit due to changes in accounting standards. The startup's operating revenue grew 2.6 times to INR 1,940.4 Cr in FY24.

Paytm likely to see 32% YoY revenue growth, losses to narrow in Q3

Livemint

Livemint · 1y ago

Paytm likely to see 32% YoY revenue growth, losses to narrow in Q3

Paytm is expected to report strong revenue growth and a decrease in net loss during the third quarter of FY24. Analysts estimate a 32% YoY increase in revenue to ₹2,721 crore, with an 8% sequential growth. The net loss is anticipated to decrease by 29% YoY to ₹280 crore. The operational performance improvement is likely to contribute to the company's increased operating profitability. Paytm's earnings for Q3FY24 are set to be announced on January 19.

Zomato-backed startup Curefit faces loss 42% to ₹889 cr

Inshorts · 7m ago

Zomato-backed startup Curefit faces loss 42% to ₹889 cr

Zomato-backed fitness startup Curefit consolidated net loss for the financial year ending March 2024 widened 42% to ₹888.5 crore from ₹625.5 crore in the previous fiscal year due to an increase in cash burn. The rise in loss came despite the startup operating revenue growing 33.6% to ₹926.6 crore in FY24 from ₹693.7 crore in FY23.

OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

Inc42 · 11m ago

OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

OYO reported a net profit of INR 229.5 Cr in FY24, a significant improvement from the net loss of INR 1,286.5 Cr in the previous fiscal year. This profitability was mainly due to reduced expenses. However, the company's revenue from operations saw a slight decline of 1.3% to INR 5,388.7 Cr in FY24 compared to INR 5,463.9 Cr in the previous year. OYO also managed to cut down its total expenditure by 16% to INR 5,725.7 Cr in FY24.

Pepperfry’s FY23 loss narrows marginally to INR 188 Cr, sales up by 10%

Inc42 · 1y ago

Pepperfry’s FY23 loss narrows marginally to INR 188 Cr, sales up by 10%

Pepperfry, an ecommerce furniture startup, has reported a minor decrease in its net loss for the financial year ended March 31, 2023. The company's net loss narrowed by 3% to INR 187.6 crore in FY23, compared to INR 194 crore in the previous fiscal year. Despite the decrease in net loss, Pepperfry's operating revenue increased by 10% to INR 272.3 crore, with its primary source of revenue being the commission earned from connecting customers with merchants on its platform. The startup has been preparing for its upcoming IPO.

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