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InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit

EntrackrEntrackr · 9m ago
InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit
Medial

InsuranceDekho turned out a stellar financial performance in the last fiscal year, with revenue from operations spiking 7.7 times. At the same time, the company reported a profit of Rs 86 crore for the fiscal year ending March 2024, compared to a loss of Rs 51 crore in FY23. InsuranceDekho’s revenue from operations surged to Rs 743.6 crore in FY24 from Rs 96.5 crore in FY23, its standalone financial statement filed with the Registrar of Companies (RoC) shows. InsuranceDekho helps customers to compare and buy motor, health, travel and pet insurance. It also offers several investment plans including ULIP, child, fixed deposit, retirement plans among others. At Rs 726.61 crore, insurance brokerage was the largest revenue generator for the firm which accounted for 97.7% of the total operating revenue while ancillary services brought in Rs 17 crore. The Gurugram-based firm also made an additional Rs 41.3 crore from non operating sources, including software sales and interest income which pushed InsuranceDekho total income to Rs 785 crore in FY24. Looking at the expenses, point of sales charges was the major element, which formed 43% of the total expense. This cost surged by 36X to Rs 301 crore in FY24, from mere Rs 8.3 crore in FY23. Employee benefit expenses stood at Rs 130.26 crore, showing a 21.7% rise from Rs 107.05 crore in FY23. Manpower management was another expense that ballooned 53X to Rs 35 crore in FY24. Advertising, finance costs collectively formed Rs 98 crore. In the end, the CarDekho-incubated company’s total expenses increased by 4.6X to Rs 699.21 crore during the last fiscal year. With over 650% growth in scale, InsuranceDekho turned profitable in FY24. It posted a profit of Rs 85.71 crore in the last fiscal year from a loss of -51.59 crore in FY23. Its ROCE and EBITDA margin improved to 16.5% and 11.73%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee of operating revenue in FY24. InsuranceDekho reported a Cash and Bank Balance of Rs 37.7 crore and Current Asset of 795.32 crore in the fiscal year ending March 2024. In October 2023, the firm secured $60 million in a Series B funding round led by Mitsubishi UFJ Financial Group. It is reportedly in discussions to merge with Renewbuy—a strategic move intended to establish a major player in the insurance aggregation market and compete with industry leader PolicyBazaar. PB Fintech, the parent firm of Policybazaar closed FY24 with about Rs 3,500 crore, which places the Rs 750 odd crores of InsuranceDekho in context. A very positive context, we will add, considering the fact that Insurance Dekho has managed to turn up the numbers with profits to show as well. Something Policybazaar managed well after it crossed the Rs 2,000 crore mark. In a market that is evolving at a pace it has never seen before, the opportunities for InsuranceDekho remain immense, and another strong year in FY25 will open up the IPO route as well, in all probability, making it a formidable competitor in the market that increasingly looks like it will consolidate into a two or three horse race as far as aggregators go.

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Info Edge posts Rs 750 Cr revenue in Q4 FY25; profit jumps 7.7X

EntrackrEntrackr · 3m ago
Info Edge posts Rs 750 Cr revenue in Q4 FY25; profit jumps 7.7X
Medial

Info Edge, the parent company of Naukri and 99acres, reported a 14.2% growth in operating revenue in the fourth quarter of the last fiscal year (FY25), while its profit jumped 7.7X due to a decline in expenses. The Noida-based company’s operating revenue rose to Rs 750 crore in Q4 FY25 from Rs 657 crore in Q4 FY24, according to documents sourced from the National Stock Exchange (NSE). On a fiscal basis, the Sanjeev Bikhchandani-led firm recorded Rs 2,849 crore in revenue during FY25, a 12% increase from Rs 2,536 crore in FY24. Info Edge derives the majority of its revenue from Naukri.com, which contributed Rs 542 crore in the quarter ending March 2025, a 13% year-on-year growth compared to Q4 FY24. Meanwhile, revenue from 99acres reached Rs 106 crore, while the Jeevansathi and Shiksha segments collectively generated Rs 102 crore during the same quarter. The company added another Rs 520 crore from interest on deposits and investment which pushed its overall revenue to Rs 1,270 crore in Q4 FY25. On the fiscal basis, its total income stood at Rs 3,922 crore in FY25. On expense side, Info Edge spent 61% of its overall expenditure on employee benefits, which increased a modest 13% year-on-year to Rs 331 crore in Q4 FY25. Its advertising and internet costs stood at Rs 100 crore and 21 crore, respectively. The company’s overall cost grew 15% YoY to Rs 539 crore in Q4 FY25 from Rs 469 crore in Q4 FY24. Meanwhile on the fiscal basis, total cost rose 9% to Rs 2,002 crore in FY25. The steady growth and surge in other income with controlled expenditure led its profits to spike 7.7X to Rs 678 crore in Q4 FY25, compared to Rs 88 crore in Q4 FY24. On a fiscal basis, the firm’s profit doubled to Rs 1,310 crore in FY25 from Rs 594 crore in FY24. As of 2:43 PM, Info Edge is trading at Rs 1,456, down 1.19% from today’s opening price. The firm’s market capitalization stands at Rs 94,337 crore.

Nykaa posts Rs 2,061 Cr revenue in Q4 FY25, profit soars 90%

EntrackrEntrackr · 3m ago
Nykaa posts Rs 2,061 Cr revenue in Q4 FY25, profit soars 90%
Medial

Online beauty and fashion platform Nykaa reported strong growth in Q4 FY25, with its revenue from operations rising 24% year-on-year and profits surging 90% during the quarter ending March 2025. According to its consolidated financial statements sourced from the NSE, Nykaa's revenue from operations grew to Rs 2,061 crore in Q4 FY25, compared to Rs 1,667 crore in Q4 FY24. For the full fiscal year (FY25), Nykaa’s operating revenue increased 24% to Rs 7,950 crore in FY25 from Rs 6,386 crore in FY24. The beauty segment accounted for 92% of the total revenue at Rs 1,894 crore, while the fashion segment contributed 8% of the operating income in the last quarter. For Nykaa, the cost of materials constituted 57% of its total expenditure, rising to Rs 1,153 crore in Q4 FY25. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,031 crore during the quarter. For the full fiscal year ending March 2025, the total expenses rose to Rs 7,850 crore. Steady growth in its scale helped Nykaa achieve a 90% increase in profit to Rs 19 crore in Q4 FY25, compared to Rs 10 crore in Q4 FY24. For FY25, the firm’s profit stood at Rs 74 crore in FY25 from Rs 44 crore in FY24. At the close of today's trading session, Nykaa's stock was priced at Rs 200.8, giving the company a market capitalization of Rs 57,406 crore.

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%

EntrackrEntrackr · 6m ago
Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%
Medial

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52% Online beauty and fashion platform Nykaa reported strong growth in Q3 FY25, with its revenue from operations rising 26.8% year-on-year and profits surging 51.7% during the quarter ending December 2024. According to its unaudited consolidated financial statements sourced from the NSE, Nykaa's revenue from operations grew to Rs 2,267 crore in Q3 FY25, compared to Rs 1,789 crore in Q3 FY24. The beauty segment accounted for 90.9% of the total revenue at Rs 2,060 crore, while the fashion segment contributed 8.8% of the operating income in the last quarter. For Nykaa, the cost of materials constituted 57.2% of its total expenditure, rising to Rs 1,276 crore in Q3 FY25. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,228 crore during the quarter. Steady growth in its scale helped Nykaa achieve a 51.7% increase in profit, reaching Rs 26.4 crore in Q3 FY25, compared to Rs 17.4 crore in Q3 FY24. Nykaa has acquired a majority stake in Earth Rhythm, following its initial minority investment in the company in 2022. This move was achieved through a combination of primary and secondary transactions. Additionally, Nykaa increased its stake in its subsidiary Dot & Key to 90% with an additional investment of Rs 265.3 crore. As of 4:10 PM, Nykaa’s shares are trading at Rs 170.5, giving the Mumbai-based company a market cap of Rs 48,739 crore ($5.8 billion).

PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue

EntrackrEntrackr · 5m ago
PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue
Medial

Payments technology company Mindgate made headlines last week after Prosus’s PayU acquired a 43.5% stake in the firm. The strategic acquisition followed Mindgate’s impressive 34.6% year-on-year growth, with revenue surpassing Rs 250 crore in FY24 and net profits surging 3.6X. Mindgate’s revenue from operations grew to Rs 257 crore in FY24 from Rs 191 crore in FY23, its consolidated financial statements accessed from the Registrar of Companies (RoC) show. Mindgate is a digital payments company specializing in real-time payment processing and enterprise payment solutions for banks, financial institutions, and businesses. Income from subscription-based SaaS services accounted for 87.7% of the total operating revenue, which rose by 35% to Rs 201 crore in FY24. Revenue from transaction processing and annual maintenance services contributed Rs 40 crore and Rs 16 crore, respectively. The company also earned Rs 4 crore from interest on current investments, bringing its total revenue to Rs 261 crore in FY24 from Rs 195 crore in FY23. Similar to other SaaS tech firms, employee benefits made up 71% of Mindgate’s overall expenditure. This cost rose by 22.6% to Rs 163 crore in FY24. Additional expenses such as rent, subscription and membership fees, travel, advertising, and overheads pushed the total expenditure up by 24.5% to Rs 229 crore in FY24, compared to Rs 184 crore in FY23. Year-on-year growth, coupled with controlled costs, enabled Mindgate to post a 3.6X surge in profits to Rs 23.2 crore in FY24 from Rs 6.5 crore in FY23. At a unit level, the company spent Re 0.89 to earn a rupee in FY24, with improved ROCE and EBITDA margins of 17.03% and 13.6%, respectively. By the end of FY24, its total current assets stood at Rs 211 crore, including cash and bank balances of Rs 74 crore.

The Ayurveda Co posts Rs 60 Cr revenue in FY24, loss soars 3X

EntrackrEntrackr · 6m ago
The Ayurveda Co posts Rs 60 Cr revenue in FY24, loss soars 3X
Medial

The Ayurveda Co, a D2C consumer brand, recorded a 66% year-on-year growth in its scale during the last fiscal year ended in March 2024. However, the losses for the Sixth Sense Venture-backed firm surged over three-fold in the same period. The Ayurveda Co’s revenue from operations increased by 66% to Rs 59.6 crore in FY24 from Rs 36 crore in FY23, shows its financial statement sourced from the Registrar of Companies (RoC). The Ayurveda Co offers ayurvedic beauty and personal care products, including hair care, skincare, makeup, and wellness items. The firm's revenue is generated exclusively from the sale of these products. The Ayurveda Co earned an additional Rs 2.4 crore from interest income, which increased its total revenue to Rs 62 crore in FY24. On the expense side, the cost of materials was its largest cost center which jumped 2.4X to Rs 28.6 crore from Rs 12 crore in FY23. Its advertising and employee benefits grew by 73.3% and 80.2% to Rs 26 crore and Rs 15.5 crore, respectively, in the last fiscal year. Manpower and recruitment expenses surged to Rs 11.3 crore. In the end, the company’s total expenses increased 97% to Rs 109.5 crore in FY24 from Rs 55.6 crore in FY23. The sharp increase in expenditures resulted in a 3.2X spike in losses to Rs 68 crore in FY24, compared to a Rs 21 crore loss in FY23. Its ROCE and EBITDA margin stood at -700% and -100.65%, respectively. On a unit level, the company spent Rs 1.84 to earn a single rupee. At the end of FY24, the Gurugram-based company reported current assets worth Rs 45 crore, including cash and bank balances worth an alarming Rs 52 lakh. The Ayurveda Co has secured approximately $16 million in funding to date, including its Rs 100 crore Series A round led by Sixth Sense Ventures in 2023. The company competes with brands like Ayurveda Experience, which reported Rs 250 crore in revenue for FY23, along with Wow Skin, Sugar, and others. The sharp rise in costs is a little surprising, even in a year just after the firm raised significant funding, as we have seen earlier. One hopes FY25 will bring not just a moderation in costs but also a disproportionate rise in topline, considering the significant funding it seems to have raised. In a fiercely competitive market with valuations sagging for all but the most profitable firms, The Ayurveda Co’s numbers are more than a little underwhelming to be honest. The firm’s only argument from here on will have to be a strong performance in FY25.

Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

EntrackrEntrackr · 9m ago
Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips
Medial

Temasek’s Fullerton recently acquired the troubled fintech firm Lendingkart in a distress sale. The company’s valuation plummeted to around $100 million in the deal, down from its peak of $690 million. While the reasons behind this downfall may become clearer when the firm discloses its FY25 numbers, the company’s profit after tax (PAT) slipped 6% during the fiscal year ending March 2024. We will analyze the company’s expenses in detail in the second half of the story. For now, let’s focus on its revenue streams and their growth. Lendingkart’s revenue from operations increased by 36% to Rs 1,090 crore in FY24 from Rs 798 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Lendingkart is a non-banking finance company (NBFC) that provides working capital and business loans to SMEs across India. It offers loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSMEs and has disbursed over Rs 18,700 crore to more than 300,000 businesses. Revenue from co-lending was the primary contributor, accounting for 54% of the operating revenue, which surged by 88% to Rs 591 crore in FY24. Revenue from interest on term loans shrank by 2.86% to Rs 407.81 crore FY24, while commission income spiked 34X to Rs 22.58 crore in FY24. It also made Rs 69.15 crore from other operating activities. The company generated another Rs 127 crore in FY24 from non operating activities which took its total revenue to Rs 1,217 crore in FY24. On the expense side, finance cost was the major factor, which increased by 16.82% to Rs 293.53 crore in FY24. Employee benefit expenses grew by 75.70% to Rs 199 crore while legal charges increased 58.25% to Rs 125.62 crore FY24. Overall, the firm’s total expenses spiked 49.4% to Rs 1,022.7 crore in FY24 from Rs 684.4 crore in FY23. Note: The company recorded Rs 171.67 crore in FY24 and Rs 67.12 crore in FY23 under impairment losses, these amounts have been excluded from the expense or profit calculations. The rising expenses on employee benefits took a toll on Lendingkart's profit which slipped by 6% to Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23. Its ROCE and EBITDA margin stood at 23.33% and 44.39%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee in FY24. The Ahmedabad-based company reported Rs 768.5 crore in cash and bank balances and had a current asset of Rs 2,110 crore as of FY24. According to TheKredible, Lendingkart has raised a total of Rs 3,217 crore (approximately $452 million) in funding to date. Its leading investors include Temasek, Bertelsmann, Mayfield, and Saama Capital.

Probo posts Rs 459 Cr revenue and Rs 92 Cr profit in FY24

EntrackrEntrackr · 6m ago
Probo posts Rs 459 Cr revenue and Rs 92 Cr profit in FY24
Medial

Probo’s revenue from operations surged to Rs 459 crore in FY24 from Rs 86 crore in FY23, according to its consolidated annual financial statements sourced from the Registrar of Companies (RoC). Founded by Sachin Gupta and Ashish Garg in 2019, Probo is an event trading platform that allows users to trade their opinions on future events in various categories, such as cricket, football, finance, entertainment, and startups, among others. The primary revenue source for Probo was platform fees collected from users for contest participation, accounting for 97.8% of the total collection. This income grew 5.4X to Rs 449 crore during the last fiscal year. Income from allied services and other sources, including interest income from current investments, brought Probo’s total income to Rs 474 crore during the last fiscal year. Advertising and promotion accounted for 77% of Probo’s total expenses, soaring 5.2X to Rs 271 crore in FY24 from Rs 52 crore in FY23. Meanwhile, employee benefit expenses grew by 27% to Rs 28 crore in FY24. Information technology, platform integration, legal, traveling, and other overheads took the overall cost up by 3.5X to Rs 351 crore in FY24. The combination of strong revenue growth and controlled costs enabled Probo’s net profit to surge 25X, to Rs 92 crore in FY24, up from Rs 3.7 crore in FY23. The Peak XV-backed firm spent Re 0.76 to earn a rupee during the fiscal year ending March 2024. Probo’s return on capital employed (ROCE) rose to 42.6%, while its EBITDA margin improved to 26.1%. By the end of FY24, the company's total current assets stood at Rs 274 crore, with cash and bank balances amounting to Rs 169 crore. Probo has raised around $28 million across several rounds. According to the startup data intelligence platform TheKredible, Peak XV is the largest external stakeholder, with 21.72%, followed by Elevation Capital and The Fundamentum Partnership. Probo is on to a good thing as long as it can keep growing its flock, especially its core user base. It’s clearly doing it right, going by the sharp rise in metrics across the board.

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