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Mobikwik posts flat scale in Q4 FY25; bleeds heavily

EntrackrEntrackr · 2m ago
Mobikwik posts flat scale in Q4 FY25; bleeds heavily
Medial

Mobikwik posts flat scale in Q4 FY25; bleeds heavily Fintech platform MobiKwik reported its quarterly results for the fourth quarter of the last fiscal year (Q4 FY25) on Tuesday, showing a flat year-on-year growth. MobiKwik’s revenue from operations increased to Rs 268 crore in Q4 FY25 from Rs 265 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. However, Mobikwik's earnings for the full fiscal year grew 33.9% to Rs 1,192 crore in FY25, compared to Rs 890 crore in FY24. Commissions on recharges, processing, and interest on servicing loans, payment gateways, and technology platforms were the primary revenue sources for MobiKwik in Q4 FY25. However, the company did not provide an income breakdown in its quarterly report. According to the press release, MobiKwik's registered user base has grown to 176.5 million with 4.4 million new merchants. The company’s payment of GMV has also surged 2.3X year-on-year to Rs 331 billion. On the cost side, expenditures on the payment gateway were the largest cost center, accounting for 45% of the overall cost, which stood at Rs 147 crore in Q4 FY25. The cost of employee benefits and lending fees was recorded at Rs 43 crore and Rs 41 crore, respectively. Its financial guarantee, legal, advertising, finance, and other overheads took its total expenditure to Rs 324 crore in Q4 FY25 from Rs 266 crore in Q4 FY24. For instance, the Gurugram-based company posted a net profit of Rs 14 crore for the previous fiscal (FY24). In the end, Mobikwik reported a net loss of Rs 56 crore in Q4FY25, compared to a loss of Rs 60 lakhs in the same quarter of the previous fiscal year. During the full fiscal year, its bottom line was negative at Rs 121.5 crore. Mobikwik made its debut on the stock exchange last December 24 with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 273.7 with a total market capitalization of Rs 2,126 crore or approximately $250 million.

CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25

EntrackrEntrackr · 5m ago
CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25
Medial

CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25 CarTrade released its financial results for the third quarter of the ongoing fiscal year (Q3 FY25) on Wednesday. The company reported a 26% year-on-year revenue growth compared to Q3 FY24, with a major turnaround in its bottom line. CarTrade’s revenue from operations surged 26.6% to Rs 176 crore in Q3 FY25 in contrast to Rs 139 crore in Q3 FY24, as per the firm’s unaudited consolidated financial results sourced from the National Stock Exchange (NSE). The Mumbai-based company operates in three segments: Consumer, Remarketing, and Classifieds. Income from the consumer segment formed 39% of the total operating revenue which increased to Rs 68 crore in Q3 FY25 from Rs 50 crore in Q3 FY25. Income from the remarketing and classified segment stood at Rs 58 crore and Rs 50 crore in the third quarter of the ongoing fiscal year. CarTrade also added Rs 17 crore from other non-operating businesses which tallied its overall revenue to Rs 193 crore in Q3 FY25, compared to Rs 152 crore in Q3 FY24. On the expense front, employee benefits expenses formed 53% of the overall spending which went up a modest 7.3% to Rs 73 crore during the period. This cost also includes share-based expenses of Rs 3.36 crore. CarTrade’s overall expenses increased 12% to Rs 140 crore in Q3 FY24 from Rs 125 crore during Q3 FY24. The strong growth and controlled spending enabled CarTrade to achieve a turnaround and post a net profit of Rs 45.5 crore in Q3 FY25, compared to a loss of Rs 23.5 crore in Q3 FY24. However, the company had already recorded a revenue of Rs 472 crore and a net profit of Rs 99 crore during the nine months of the ongoing fiscal year. CarTrade recorded a 4.78% hike in its share price today and is trading at Rs 1,433.3 (as of 12:47) with a total market capitalization of Rs 6,789 crore or $800 million.

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

EntrackrEntrackr · 4m ago
Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
Medial

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Economic TimesEconomic Times · 10m ago
BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%
Medial

Innovative Retail Concepts Pvt Ltd, the B2C unit of BigBasket, posted a 6% YoY growth in operating revenue for FY24, reaching Rs 7,885 crore. It reported a net loss of Rs 1,267 crore, down 17% YoY. The company faces competition from quick commerce players like Blinkit, Instamart, and Zepto in the online grocery delivery space. BigBasket is planning to shift its focus entirely to quick commerce. The company's total expenditure increased slightly, while advertisement income remained flat. Tata Group, which owns majority stake in BigBasket, halted fresh investments to reevaluate profitability strategies. BigBasket aims to raise $80-100 million for expansion plans, including the expansion of dark stores.

Fittr posts flat scale in FY24; losses trims 73%

EntrackrEntrackr · 6m ago
Fittr posts flat scale in FY24; losses trims 73%
Medial

Fintrackr Fittr posts flat scale in FY24; losses trims 73% Fitness tech startup Fittr has encountered growth challenges, with its revenue remaining flat over the past three years. However, the losses for the Rainmatter Capital-backed company decreased substantially in the last fiscal year. Fittr’s revenue from operations saw a modest 3% decrease to Rs 85 crore in FY24, from Rs 87.5 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). Founded by Jitendra Chouksey, Sonal Singh, Jyoti Dabas, Rohit Chattopadhyay, and Bala Krishna Reddy, Fittr is a community-based health and online fitness marketplace. It creates customized workout plans based on fitness goals, equipment available, time available, and exercise style preferences. Revenue from fitness and wellness online services contributed the majority at Rs 80 crore, despite a 4.42% decline compared to 83.7 crore in FY23. New revenue streams like smart ring sales added Rs 80 lakh, while academic fees and other income sources contributed Rs 2.8 crore and Rs 1.4 crore, respectively. The company earned an additional Rs 1.3 crore from non-operating revenue which pushed its total revenue to Rs 86.3 crore in FY24. Fittr’s total expenses declined significantly by 26% to Rs 97 crore in FY24 from Rs 131 crore in FY23. The reduction was driven by a 36.2% cut in employee benefits (Rs 20.8 crore), a 65.8% reduction in advertising costs (Rs 8.4 crore), and a 30% decrease in other overheads (Rs 13.5 crore). Expenditure on consultants and study material, the largest cost component, remained stable at Rs 54.3 crore. With the controlled expenses across verticals, Fittr’s losses shrank by 73.5% to Rs 11 crore in FY24 from Rs 41.5 crore in FY23. Its ROCE and EBITDA margin stood at -38.89% and -10.66% respectively. Fittr’s expense-to-earning ratio stood at Rs 1.14. As of March 2024, the firm reported Rs 46.5 crore of current assets including Rs 27.8 crore of cash and bank balance. According to TheKredible, Fittr has secured a total funding of $17 million to date including a $3.5 million round led by Zerodha-backed venture fund Rainmatter. Surge, Dream Capital (now shut down), and Elysian Park are other notable investors of Fittr.

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