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Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25

EntrackrEntrackr · 4d ago
Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25
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Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25 Koovers, a B2B marketplace for automotive spare parts, reported strong growth in the fiscal year ending March 2025, with operating revenue increasing over 2X due to expansion across its dealer network. The company, acquired by Schaeffler India, continued to scale its operations, but losses more than doubled during the year due to higher costs. Koovers’ operating revenue grew 2.5X to Rs 198 crore in FY25 from Rs 79 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The Bengaluru-based firm was founded in 2015 by Rajesh Krishna, Sandeep Begur, Kantharaj Urs, Vinayak YB, and S Prem Kumar. It operates as an app-based platform offering car spare parts and accessories. The sale of these products was the sole source of income for the company. The company was acquired by Schaeffler India in 2023 in a 100% buyout. Cost of materials remained the largest cost center for the spare parts company, accounting for 79% of the total cost. This cost surged 2.5X to Rs 186.5 crore in FY25 from Rs 75 crore in FY24. Employee benefit expenses doubled to Rs 22 crore during the year. Transportation costs rose to Rs 8 crore, while marketing expenses stood at Rs 5 crore in FY25. Finance costs increased sharply to Rs 6 crore. Overall, the firm’s expenses surged 145% to Rs 235 crore in FY25 from Rs 96 crore in FY24. With expenses outpacing revenue, the company’s losses more than doubled to Rs 36 crore in FY25 from Rs 17 crore in FY24. Its ROCE and EBITDA margin improved to -13.13% and -56.88% respectively. On a unit basis, Koovers spent Rs 1.19 to earn a rupee of operating revenue in FY25, improving from Rs 1.22 in FY24. Koovers’ current assets stood at Rs 51 crore, while the company held cash and bank balances of Rs 50 lakh at the end of the fiscal year. Koovers competes with the likes of TyrePlex, Boodmo, and Partnr. The 100% acquisition of the firm by Schaeffler was driven by a strong base of dealer networks and possibly sourcing relationships, which explains the faster revenue growth over losses. The fact that Koovers has retained its name is an interesting signal of operational freedom for now.

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Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 8m ago
Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25
Medial

Smartworks, a leading managed workspace platform, reported a 32% growth in operating revenue to Rs 1,374 crore in FY25. However, despite the strong topline growth, the company’s losses widened 26% in FY25. Smartworks’ revenue from operations increased by 32% to Rs 1374 crore in FY25 from Rs 1039 crore in FY24, according to its financial statement sourced from RHP. SmartWorks provides flexible office space for large enterprises, SMEs, and high-growth startups and leverages its robust phygital platform to deliver fully serviced, tech-enabled, flexible, and affordable workspaces. Lease rentals accounted for over 93% of its operating revenue, which rose by 29% to Rs 1,289 crore in FY25. Other sources included design and fit-out services at Rs 35 crore, ancillary services at Rs 49 crore, and a marginal Rs 1 crore from software fees. Smartworks added another Rs 36 crore from non-operating sources, which pushed its total revenue to Rs 1410 crore in FY25. On the expense side, the largest cost head was depreciation, which increased 35% to Rs 636 crore, followed by operating expenses of Rs 416 crore. Finance costs remained relatively stable at Rs 336 crore, while employee benefit expenses rose to Rs 65 crore. Overall, total expenses increased by 26% to Rs 1,489 crore in FY25 from Rs 1,180 crore in FY24. Despite revenue growth, the company’s loss increased by 26% to Rs 63 crore in FY25 as compared to Rs 50 crore in FY24. However, the company reported a positive EBITDA of Rs 893 crore in FY25 with an EBITDA margin of 63.3% and ROCE of 7.48%. On a unit level, Smartworks spent Rs 1.08 to earn a rupee of operating revenue in FY25, marginally better than the previous year’s ratio of Rs 1.14. The Gurugram-based company reported current assets worth Rs 255 crore in FY25, including Rs 69 crore in cash and bank balances. Smartworks is heading to the public markets with its Rs 583 crore IPO opening on July 10 and closing on July 14, 2025. The company has set a price band of Rs 387 to Rs 407 per share with a lot size of 36 shares, requiring a minimum investment of Rs 14,652 for retail investors.

Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25

EntrackrEntrackr · 1y ago
Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
Medial

Fintech firm Paytm announced its financial results for the third quarter of the current fiscal year (Q3 FY25) on Monday. The Noida-based company reported revenue of Rs 1,828 crore and a net loss of Rs 208 crore for the period. According to Paytm’s unaudited consolidated quarterly report filed with the National Stock Exchange, its revenue from operations declined by 35.9% year-on-year from Rs 2,850 crore in Q3 FY24 to Rs 1,828 crore in Q3 FY25. However, on a quarter-on-quarter basis, the firm recorded a 10% increase in revenue compared to Q2 FY25 (the preceding quarter). Income from payment service revenue accounted for 55% of the total operating revenue which stood at Rs 1,003 crore in Q3 FY25 while the revenue from financial and marketing services were recorded at Rs 502 crore and Rs 267 crore in the same period. The company also added Rs 189 crore from other non-operating sources, bringing its overall revenue to Rs 2016.5 crore in Q3 FY25. For the fintech firm, its employee benefits remained the largest cost center accounting for 34% of the overall cost which decreased by 36% to Rs 756 crore in Q3 FY25. This includes Rs 182 crore as ESOP cost (non-cash). Its payment processing charges and marketing costs were reduced by 42% and 48.7% to Rs 570 crore and Rs 141 crore respectively in Q3 FY25 from Rs 982 crore and Rs 275 crore in Q3 FY24. Software, communication, legal, cashback, and other overheads took the total expenditure to Rs 2,220 crore in Q3 FY25 from Rs 3,216 crore in Q3 FY24. A reduction across all overhead departments enabled Paytm to narrow its losses by 6.3% to Rs 208 crore in Q3 FY25 from Rs 222 crore in Q3 FY24.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 10m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
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Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 4m ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 5m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
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Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 5m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
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Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

Vyapar posts Rs 63 Cr loss in FY25; cash reserve fades 93%

EntrackrEntrackr · 4m ago
Vyapar posts Rs 63 Cr loss in FY25; cash reserve fades 93%
Medial

Vyapar posts Rs 63 Cr loss in FY25; cash reserve fades 93% Vyapar’s operating revenue rose 53% year-on-year to Rs 69 crore in FY25, up from Rs 45 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Business accounting software provider Vyapar continued to operate deep in the red in FY25 even as it expanded its year-on-year scale. The Delhi-based company’s losses remained high, though they narrowed, and its cash buffer eroded significantly during the last fiscal year. Founded in 2018, Vyapar helps SMEs keep track of their receivables and payables, inventory management, send customized invoices, payment reminders and transaction messages in multiple languages. Revenue from the sale of its software’s license accounted for 90% of the income while the rest came from provision of its services (subscriptions fee). Employee benefits remained the company’s largest cost component accounting for 72% of the total expense. This expense increased 11% to Rs 102 crore in FY25 from Rs 92 crore in FY24. Other operating overheads such as customer support cost, rent, marketing, etc added the remaining Rs 39 crore to the total income which increased by 11% year-on-year to Rs 141 crore in FY25 from Rs 127.5 crore in FY24. At the bottom line, the company reduced its net loss by 13% to Rs 63 crore, compared to Rs 72.6 crore in FY24. Its ROCE and EBITDA margin stood at -62.61% and -102.9% respectively. On a unit basis, the company spent Rs 2.04 to earn a rupee of operating revenue in FY25. The company’s current assets decreased to Rs 89 crore in FY25 from Rs 141 crore in FY24. Its cash and bank balance was cut by 93% to Rs 6 crore in FY25 from Rs 91 crore in FY24. Vyapar has raised a total of $36 million of funding till date, having Indiamart and WestBridge as its lead investors which owns 25.5% and 16% of the company respectively.

Navi Technologies swings to red with Rs 126 Cr loss in FY25

EntrackrEntrackr · 18d ago
Navi Technologies swings to red with Rs 126 Cr loss in FY25
Medial

Navi Technologies swings to red with Rs 126 Cr loss in FY25 Navi Technologies, a fintech unicorn founded by Sachin Bansal, reported steady growth in the fiscal year ending March 2025 but lost profitability during the same period, largely due to a sharp decline in other income and regulatory restrictions on its lending arm. Navi’s revenue from operations grew by 18% year-on-year to Rs 2,565 crore in FY25 from Rs 2,180 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). The company provides personal and home loans, bill payments, insurance, digital gold, and mutual funds. Interest income accounted for 85% of Navi’s total revenue which grew by 21% to Rs 2,178 crore in FY25. Fees, commissions, and other allied services contributed Rs 127 crore, and the firm added an additional Rs 124 crore from non-operating income, taking its total income to Rs 2,689 crore in FY25. The other income declined sharply from Rs 614 crore in FY24, primarily because the company had recorded gains from the sale of a subsidiary in the previous fiscal year. Finance cost remained the largest expense for the lending company, rising 21% to Rs 850 crore in FY25 from Rs 705 crore in FY24. Impairment on financial instruments increased 17% to Rs 578 crore, while employee benefit expenses grew 17% to Rs 546 crore in FY25. However, advertising expenses declined 24% to Rs 198 crore, and IT expenses dropped 11% to Rs 143 crore. Overall, the company’s total expenses rose 10% to Rs 2,730 crore in FY25 from Rs 2,491 crore in FY24. The growing expenses and a sharp fall in other income resulted in a loss for the company for the last fiscal year. Navi posted a loss of Rs 126 crore in FY25, as compared to a loss of Rs 358.5 crore in FY24. Its ROCE and EBITDA margin stood at 8.90% and 28.97% respectively for the period. On a unit basis, the company spent Rs 1.06 to earn a rupee of operating revenue during the fiscal year. Navi recorded cash and bank balances of Rs 1,369 crore, while its current assets stood at Rs 7,811.5 crore in FY25. Navi’s lending operations faced a temporary hurdle in FY25 due to regulatory action. In October 2024, the Reserve Bank of India (RBI) instructed Navi Finserv, along with three other NBFCs, to halt the sanctioning and disbursement of new loans due to concerns related to pricing policies and regulatory compliance. The restrictions were lifted in December after the company addressed the deficiencies and implemented revised systems to comply with regulatory guidelines, allowing it to resume lending operations. Navi has raised around $445 million of funding till date, with Gaja Capital as one of its lead investors. Navi competes with the likes of Finnable, Fibe, FamApp, and Paytm among several others.

Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25

EntrackrEntrackr · 4m ago
Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25
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Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25 Electric mobility firm Ultraviolette Automotive grew its operating scale by 115% in the fiscal year ending March 2025. However, its losses also rose 88% and crossed the Rs 115 crore threshold during the same period due to a more than 2X surge in the cost of parts, batteries, and other inputs. The company’s revenue from operations grew to Rs 32.3 crore in FY25 from Rs 15 crore in FY24, according to its annual financial statements sourced from the Registrar of Companies (RoC). Founded in 2015 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette designs performance-oriented, aspirational EV two-wheelers. Revenue from the sale of these two-wheeler vehicles was the major source of revenue for the company during the last fiscal year. According to Vahan data, the company has sold a total of 547 vehicles in FY25. The cost of materials was not the primary expenditure for the two-wheeler manufacturer. Instead, employee benefit expenses emerged as the largest cost driver, making up 31% of the total expenses. This cost rose 28% to Rs 59 crore in FY25. The company also spent Rs 7.6 crore in research and development and Rs 7 crore in IT expenses in the same period. Cost of material, however, jumped 2.2X to Rs 33 crore in FY25 from Rs 15 crore in FY24, while advertising spiked 4.8X to Rs 29 crore in FY25. The company’s depreciation stood at Rs 27.5 crore. Overall, total expenses rose 77% to Rs 189 crore in FY25 from Rs 107 crore in the previous year. With expenses far outpacing revenue growth, Ultraviolette’s net loss increased 88% to Rs 116 crore in FY25 from Rs 61.6 crore in FY24. Its ROCE and EBITDA margin widened to -40.88% and -396.75% respectively. On a unit basis, the firm spent Rs 5.85 to earn a rupee in FY25, an improvement from Rs 7.13 spent per rupee of revenue in the previous year. Ultraviolette closed the fiscal with Rs 46 crore in cash and bank balances and current assets worth Rs 170 crore. According to TheKredible, Ultraviolette has raised a total of $100 million of funding till date, having TVS Motor Company and Mudhal Partners as its lead investors. The company’s co-founders Narayan Subramaniam and Niraj Rajmohan together own 29% of the company.

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