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IFCI turns a corner with advisory biz; posts first profit in 7 years

Livemint

Livemint · 1y ago

IFCI turns a corner with advisory biz; posts first profit in 7 years

Government-owned non-bank IFCI Ltd has reported a profit of INR 128 crore in the financial year 2023-24, marking a turnaround after seven consecutive years of losses. The company expanded into government and private corporate advisory services, which contributed to the improved financial performance. IFCI's revenue increased by 19% to INR 896 crore. In recent years, the company focused on curtailing lending operations and expanding its advisory services. The government infused INR 500 crore into IFCI through equity shares, increasing its stake to 71.72%. IFCI's stock price has nearly tripled in the past year.

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Govt to infuse ₹500 cr in IFCI to improve its financial health

Livemint

Livemint · 1y ago

Govt to infuse ₹500 cr in IFCI to improve its financial health

The Indian government has decided to infuse INR 500 crore capital into state-owned company IFCI to improve its financial health. This comes ahead of the company's restructuring and consolidation into a group. With the infusion, the government's holding in IFCI is expected to increase from the existing 71.72%. The capital infusion plan was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in the Lok Sabha. IFCI had previously raised INR 500 crore capital through equity share issuance to the government.

Juspay turns profitable, posts Rs 62 crore net profit; revenue rises to Rs 514 crore - The Economic Times

Economic Times

Economic Times · 2m ago

Juspay turns profitable, posts Rs 62 crore net profit; revenue rises to Rs 514 crore - The Economic Times

Juspay, a Bengaluru-based fintech startup, achieved profitability for the first time in FY25 with a net profit of Rs 62 crore. Its net revenue surged to Rs 514 crore, a 48% increase from the previous year. The company processes $1 trillion in annualised total payment value and has enhanced its global footprint with recent funding and partnerships, including collaboration with HSBC and expanding into Brazil. Despite previous challenges with payment aggregators, Juspay strengthened its market position.

Ola's Battery Unit Gets IFCI Notice for Missing PLI Targets: Will It Pay Penalty Now?

OutlookIndia

OutlookIndia · 10m ago

Ola's Battery Unit Gets IFCI Notice for Missing PLI Targets: Will It Pay Penalty Now?

Ola Cell Technologies, a unit of Ola Electric Mobility, received a notice from IFCI for not meeting the Production Linked Incentive (PLI) Advanced Chemistry Cell (ACC) scheme targets. IFCI highlighted a missed milestone under this scheme. As a result, Ola Electric faces a daily penalty, impacting its eligibility for incentives. Ola Electric has begun trial production and aims to become the first to manufacture lithium-ion cells in India under this scheme.

InsuranceDekho Turns Profitable, Posts INR 86 Cr PAT In FY24

Inc42 · 1y ago

InsuranceDekho Turns Profitable, Posts INR 86 Cr PAT In FY24

InsuranceDekho, an insurtech startup, recorded a net profit of INR 85.7 Cr in FY24, a significant improvement from the INR 51.6 Cr loss in FY23. The company's operating revenue also surged by 670% to INR 743.6 Cr in the fiscal year ending March 2024, compared to INR 96.5 Cr in FY23. Furthermore, InsuranceDekho is reportedly in the advanced stages of merging its operations with RenewBuy, a move that could value the combined entity at $1 billion.

Wakefit posts Rs 724 Cr revenue in H1 FY26; turns profitable

Entrackr

Entrackr · 1m ago

Wakefit posts Rs 724 Cr revenue in H1 FY26; turns profitable

Wakefit, the home and sleep solutions brand, filed its Red Herring Prospectus (RHP) on November 30, 2025, for its upcoming IPO. The company’s financials indicate steady performance in the first half of the current fiscal year ending March 31, 2026. Wakefit reported operating revenue of Rs 724 crore in H1 FY26, according to the financial statement included in the Red Herring Prospectus (RHP). The company added another Rs 17 crore from non-operating sources which pushed its total revenue to Rs 741 for H1 FY26. On the expense side, cost of material was the largest burn which accounted for 44% of the total expense which stood at Rs 313 crore in FY25. The company’s employee benefit expense stood at Rs 79.5 crore in H1 FY26. Finance cost and depreciation stood at Rs 15 crore and Rs 53 crore respectively. Overall, its total expense stood at Rs 706 crore for H1 FY26. Wakefit posted profit after tax (PAT) of Rs 35.5 crore in the first half of the ongoing fiscal year. Meanwhile, the company had posted a loss of Rs 35 crore in last year ending March 31, 2025. Its ROCE and EBITDA margin stood at 4.38% and 11.95% for the first half. On a unit basis, the company spent Rs 0.98 to earn a rupee of operating revenue in H1 FY26. The company recorded current assets worth Rs 229 crore, including Rs 23 crore in cash and bank balances. As per the RHP, Peak XV is the largest external shareholder with a 22.47% stake, followed by Verlinvest and Investcorp at 9.79% and 9.29%, respectively. SAI Global Investment holds 5.35%, while Elevation Capital and Paramark Fund own 4.68% and 1.63%. Among the promoters, Ankit Garg holds the largest stake at 33.03%, followed by Chaitanya Ramalingegowda with 9.98%. The Bengaluru-based firm has trimmed its IPO size from the earlier DRHP, which proposed a fresh issue of Rs 468 crore and an OFS of 5.84 crore shares. Now, the company plans to raise Rs 377.2 crore through a fresh issue of shares, along with an offer for sale (OFS) of 4.68 crore equity shares.

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Livemint

Livemint · 1y ago

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Franklin Templeton, a well-known asset manager, has been making moves into private markets in recent years. The company, traditionally focused on mutual funds, has acquired several private credit and real estate investment firms, aiming to tap into the growing demand for alternative assets. As traditional asset managers face challenges due to the popularity of passive investment options, diversifying into private markets allows Franklin Templeton to access a wider pool of investors. While the shift comes with its own set of challenges, the company believes it can leverage its expertise and distribution capabilities to succeed in this new direction.

Amagi posts Rs 705 Cr revenue in H1 FY26; turns profitable

Entrackr

Entrackr · 6d ago

Amagi posts Rs 705 Cr revenue in H1 FY26; turns profitable

Fintrackr All Stories Amagi posts Rs 705 Cr revenue in H1 FY26; turns profitable Bengaluru-based SaaS firm Amagi's financials show that the company turned profitable in the first half of FY26, aided by strong revenue growth and improving cost efficiency. Amagi’s operating revenue grew 34.5% to Rs 705 crore in H1 FY26 from Rs 524 crore in H1 FY25, according to its financial statements included in the Red herring prospectus (RHP). The company derives the bulk of its revenue from distribution and payout services, which contributed nearly 98% of operating revenue. Income from this segment rose 36% to Rs 690 crore during the period. Revenue from AdPlus remained largely flat at Rs 15 crore. Including other income of Rs 29 crore, Amagi’s total income increased to Rs 734 crore in H1 FY26 from Rs 551 crore in H1 FY25. Employee benefit expenses, the largest cost component, rose 12.5% to Rs 386 crore and accounted for over 53% of total expenditure. Communication costs increased 32.5% to Rs 216 crore, forming nearly 30% of overall expenses. Other overheads such as legal and professional charges declined to Rs 27 crore, while travel and other expenses together added Rs 71 crore during the period. Overall, total expenses increased at a slower pace of 18.2% to Rs 722 crore in H1 FY26 from Rs 611 crore in H1 FY25. With Amagi’s revenue outpacing the expense growth, it turned profitable in the first half of FY26 and posted a profit of Rs 6.5 crore in H1 FY26, as compared to a loss of Rs 66 crore in H1 FY25. As of September 2025, the Bengaluru-based firm reported cash and bank balances of Rs 397 crore, while its current assets stood at Rs 1,177 crore.

IndusInd Bank suspects employee fraud in accounting issues; posts quarterly loss

VCCircle

VCCircle · 7m ago

IndusInd Bank suspects employee fraud in accounting issues; posts quarterly loss

IndusInd Bank reported its first quarterly loss in 18 years, attributing it partly to suspected employee fraud leading to accounting lapses. The bank, India's fifth-largest private lender by assets, faced a $230 million financial hit due to incorrect accounting of internal derivative trades. Additionally, an internal audit uncovered an $80 million recording error in its microfinance business, reversed in January. The bank's net loss for January-March was 22.36 billion rupees, contrasting with a profit a year earlier.

Juspay Turns Profitable in FY25, Posts INR 62 Cr Net Profit

Inc42 · 1m ago

Juspay Turns Profitable in FY25, Posts INR 62 Cr Net Profit

Fintech startup Juspay became profitable in FY25, posting a net profit of INR 62 crore, reversing a loss of INR 97.5 crore from the previous year. The company's operating revenue surged 61% to INR 514.31 crore, while total expenses decreased by 5.1% to INR 421.08 crore, primarily through reduced personnel costs. Juspay's FY26 strategy involves investing in payment orchestration, payment acceptance infrastructure, and advancing technology in artificial intelligence and cybersecurity.

Urban Company Turns Profitable, Posts INR 240 Cr PAT In FY25

Inc42 · 7m ago

Urban Company Turns Profitable, Posts INR 240 Cr PAT In FY25

Urban Company achieved profitability in FY25, posting a net profit of INR 239.7 crore compared to a loss of INR 92.7 crore in FY24. The hyperlocal services startup experienced a 38.2% increase in operating revenue, reaching INR 1,144.4 crore, up from INR 828 crore in the previous fiscal year. Additionally, the company's expenses rose by 19.8% to INR 1,223.4 crore, reflecting its growing scale and operational activities in the consumer services sector.

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