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Coding Ninjas’ revenue remains flat in FY24; expenses cross Rs 100 Cr

EntrackrEntrackr · 12m ago
Coding Ninjas’ revenue remains flat in FY24; expenses cross Rs 100 Cr
Medial

Info Edge-controlled Coding Ninjas experienced over two-fold revenue growth in FY23, but the company’s scale remained flat in FY24, with revenue increasing by only 3.4%. Simultaneously, Coding Ninjas struggled to control its losses, which spiked by 22% in FY24, highlighting challenges in managing operational efficiency. Coding Ninjas’ revenue rose to Rs 53.3 crore during FY24 in comparison to Rs 51.6 Crore in FY23, according to its financial statements with the Registrar of Companies. The company has restated the comparative amounts for the previous year, to correct material prior period errors in the previous year’s audited financial statements. Coding Ninjas offers computer language courses focused on application and software design. The platform provides coding courses in Java, Python, and C++, which are designed to help students excel in competitive programming, interview preparation, and data science. According to the filings, Coding Ninjas generates its revenue through three primary streams. The first is fees from students and professionals for its online coaching services. The second comes from B2B customers, including universities and corporate clients, who also pay for these services. The third is the commission earned on the Cost to Company (CTC) for students and professionals who are successfully placed through its programs. The company also generated Rs 4.91 crore via interest and gains on financial assets (non-operating revenue) during the year, bringing the overall revenue to Rs 58.22 crore in FY24. Employee benefit expenses were the largest contributor to Coding Ninjas’ total expenses, increasing by 6.64% to Rs 53.61 crore in FY24, up from Rs 50.27 crore in FY23. Advertising and promotional expenses accounted for 24.4% of the total costs but saw a 15.5% decrease to Rs 26.69 crore in FY24. In contrast, legal and professional charges surged by 200% to Rs 10 crore. Other key cost drivers, including information technology, rent, and finance expenses, also contributed to the company’s overall expenses, which spiked by 12.23% to Rs 109.2 crore. Visit TheKredible for more information. Due to flat revenue growth and rising expenses, Coding Ninjas recorded a loss of Rs 52.63 crore in FY24, marking a 21.9% increase from FY23. The company’s return on capital employed (ROCE) and EBITDA margin stood at -337.3% and -72.45%, respectively. On a unit level, Coding Ninjas spent Rs 2.05 to earn a rupee of operating income in FY24, highlighting challenges in operational efficiency and profitability. FY23-FY24 FY23 FY24 EBITDA Margin -72.05% -72.45% Expense/₹ of Op Revenue ₹2.12 ₹2.05 ROCE -73.09% -337.30% As per TheKredible, Info Edge is the only external investor in the company and has poured in around Rs 178 crore or $22 million across three funding rounds. In October 2022, Info Edge increased its stakes from 26% to 51% in Coding Ninjas with an investment of Rs 135.4 crore or $17 million. In the coding vertical, it competes with WhiteHat Jr, Toppr, Vedantu, Cuemath, Camp K12, and Uable.

Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41%

EntrackrEntrackr · 3d ago
Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41%
Medial

Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41% After posting flat revenue growth during FY24, Info Edge-backed edtech platform Coding Ninjas demonstrated 26.4% year-on-year growth in its operating revenue in the last fiscal year. Significantly, the Gurugram-based company managed to cut its losses by 41% in FY25. Coding Ninjas’ revenue from operations grew to Rs 67 crore in FY25 from Rs 53 crore in FY24, the company’s annual filing sourced from the Registrar of Companies (RoC) shows. Founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate, Coding Ninjas provides online educational and coaching services to engineering students, including training in programming languages such as C++, Java, and Python, as well as other skills such as machine learning, web development, and data science. Income from online coaching services was the sole source of revenue for Coding Ninjas in the last fiscal year. According to its financial statements, the company expanded its course portfolio during the year through collaborations with premier institutions and universities. On the cost side, the company managed to cut expenses by 9% in the said period. Its employee benefits decreased by 18.5% to Rs 44 crore, while promotion expenses stood steady at Rs 28 crore. With 26% year-on-year revenue growth, the firm’s losses reduced by 41.2% to Rs 30 crore in FY25 from Rs 51 crore in FY24. However, its accumulated losses over its lifetime reached Rs 151.5 crore in FY25. According to Entrackr’s analysis of its annual report, the firm had total current assets of only Rs 17 crore, including cash and bank balances of Rs 7.5 crore. Importantly, its total current liabilities exceeded its current assets by Rs 24.7 crore, which could be a cause for concern. As per the startup data intelligence platform TheKredible, Info Edge is the only external investor in the company and has poured in around Rs 178 crore (about $22 million) across three funding rounds. In October 2022, Info Edge increased its stake from 26% to 51% in Coding Ninjas with an investment of Rs 135.4 crore ($17 million). Coding Ninjas competes with platforms like Scaler, Masai School, and Newton School, along with Coding Blocks, GUVI, Udemy, and Coursera. These rivals offer courses for beginners, job-ready bootcamps, and advanced programs.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

Trade Spotlight | Your strategy for ABB India, Maruti Suzuki, Info Edge today

Money ControlMoney Control · 1y ago
Trade Spotlight | Your strategy for ABB India, Maruti Suzuki, Info Edge today
Medial

Market experts are recommending trading strategies for three stocks: ABB India, Maruti Suzuki, and Info Edge India. ABB India has exhibited a breakout above the R4 camarilla pivot, signaling a bullish momentum. Investors are advised to consider initiating a buy position within the range of ₹6,200-6,300 with a target upside potential of ₹6,965, while placing a stop-loss near ₹5,900. Info Edge India, on the other hand, experienced a surge but encountered a significant barrier around ₹5,550, cautioning traders and investors against initiating long positions. Maruti Suzuki demonstrated a breakthrough above the R4 camarilla pivot, indicating a bullish sentiment and prompting investors to consider a buy position within the range of ₹12,400-12,500 with a target of ₹13,000 and a stop-loss near ₹12,100.

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