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Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing

EntrackrEntrackr · 2d ago
Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing
Medial

Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing Kuku FM has continued its impressive growth trajectory with nearly tripling its scale in FY25. After clocking a 114% year-on-year revenue growth in FY24, the audio content platform reported a sharper 175% jump in its scale in FY25. However, the IPO-bound firm slipped deeper into losses during the period due to high advertising spends. Kuku FM’s operating revenue surged to Rs 242 crore in FY25 from Rs 88 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Kuku FM offers a diverse range of audio content across genres such as business, self-help, personal finance, history, religion, entertainment, and fitness. Revenue from paywalled subscription sales was the sole source of income for Kuku FM. The company also earned Rs 16 crore from other income which pushed its total income to Rs 258 crore in FY25. The sharp rise in revenue was accompanied by a steep increase in expenses. Kuku FM’s total expenses more than doubled, to Rs 411 crore in the last fiscal year from Rs 200 crore in FY24. Advertising expenses emerged as the biggest cost component which accounted for nearly 70% of the total expenditure. To the tune of scale, this cost rose 2.8x to Rs 285 crore in FY25 from Rs 102 crore in FY24. Employee benefit expenses increased 28% to Rs 60 crore, while information technology expenses rose 28% to Rs 27 crore during the year. Depreciation costs tripled to Rs 9 crore in the same period. The aggressive spending pushed Kuku FM’s loss to increase by 59% to Rs 153 crore in FY25 from Rs 96 crore in FY24. Its ROCE and EBITDA margin stood at -163.73% and -65.29% respectively. On a unit level, it spent Rs 1.70 to earn a rupee of operating revenue in FY25, compared to 2.27 in FY24. The company reported current assets worth Rs 268 crore, including Rs 117 crore in cash and bank balances during the year. According to TheKredible, the company has raised a total of $157 million of funding till date. Having The Fundamentum Partnership, Vertex Ventures, and Krafton as its lead investors which owns 12.79%, 11.12%, and 10.17% of the company respectively. Kuku FM is also gearing up for the public markets. The audiobooks and storytelling platform has reportedly shortlisted four investment banks to help it raise up to Rs 3,000 crore through an initial public offering (IPO). The proposed IPO is expected to comprise a mix of fresh issuance and an offer for sale (OFS).

Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples

EntrackrEntrackr · 1m ago
Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples
Medial

Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples HealthKart, a nutrition and supplement e-commerce platform, recorded a 3X year-on-year jump in profit after turning profitable in FY24. The Gurugram-based company’s sharp profit growth was steered by strong sales momentum and a controlled cost structure. Healthkart’s operating revenue grew 29% to Rs 1,313 crore in FY25 from Rs 1,021 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). HealthKart owns and manufactures eight nutritional brands including popular supplement brands like MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, Nouriza, and Gritzo. Sales of products formed 97% of total revenue which rose by 29% to Rs 1,277 crore in FY25. Collections from services also increased by 16% to Rs 36 crore. Notably, non-operating revenue increased to Rs 55 crore in the last fiscal year from Rs 48 crore in FY24. The cost of materials accounted for the largest share of the company’s expenditure at 49%. To the tune of scale, this cost rose 26% to Rs 623 crore in FY25 from Rs 495 crore in FY25. Advertising spend saw a sharper rise of 39% to Rs 263 crore, while commission expenses increased 22% to Rs 82 crore. In contrast, employee benefit costs declined 5% to Rs 115 crore. Overall, Healthkart managed to keep its cost growth below revenue expansion. Its total expenses rose 23% to Rs 1,273 crore in FY25 from Rs 1,032 crore in FY24. The company’s profit surged over 3X to Rs 120 crore in FY25, while its ROCE and EBITDA margin improved to 5.45% and 6.02%, respectively. On a unit basis, Healthkart spent Re 0.97 to earn a rupee of operating revenue in FY25, compared to Rs 1.01 in FY24. As of FY25, its current assets stood at Rs 971 crore including Rs 73 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Healthkart has raised a total of $382 million of funding till date, having Peak XV Partners, Temasek and Sofina as its lead investors. The company’s founder and CEO, Sameer Maheshwari owns 12% of the company.

PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples

EntrackrEntrackr · 7m ago
PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples
Medial

PB Fintech, the parent company of online insurance aggregator and brokerage platform PolicyBazaar, has released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25). The company reported a 38% growth in scale, while its year-on-year (YoY) profits increased by 2.85X during the same period. PolicyBazaar’s revenue from operations surged 38% to Rs 1,508 crore in Q4 FY25 in contrast to Rs 1,089 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), PolicyBazaar’s operating revenue increased 33% to Rs 4,977 crore in FY25 from Rs 3,738 crore in FY24. The Gurugram-based company generated the largest share (87%) of its operating revenue from insurance broker services, which rose to Rs 1,322 crore in Q4 FY25 from Rs 915 crore in Q4 FY24. For the full fiscal year, it accounted for 86% of the revenue at Rs 4,298 crore. Besides operating revenue, the firm also earned Rs 101 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 1,609 crore in the quarter ending March 2025. Meanwhile, for the full fiscal year, total income crossed the Rs 5,000 crore mark at Rs 5,385 crore. PolicyBazaar has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 15% YoY to Rs 508 crore. Overall, the company's total costs grew 29% to Rs 1,437 crore in Q4 FY25 compared to Rs 1,114 crore in Q4 FY24. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 5,039 crore as against Rs 3,739 crore in FY24. In the end, PolicyBazaar's net profits surged 2.85X to Rs 171 crore in Q4 FY25 from Rs 60 crore in Q4 FY24. On a fiscal basis, its net profit spiked 5.5X to Rs 353 crore in FY25 from Rs 64 crore in FY24. PolicyBazaar is currently trading at Rs 1,796 with a total market capitalization of Rs 82,500 crore.

Kuku FM reports Rs 88 Cr revenue in FY24; spends Rs 100 Cr on marketing

EntrackrEntrackr · 1y ago
Kuku FM reports Rs 88 Cr revenue in FY24; spends Rs 100 Cr on marketing
Medial

Audio content platform Kuku FM has grown at an impressive pace over the last two fiscal years. After achieving approximately 12-fold growth in FY23, the Mumbai-based firm has more than doubled its revenue in the fiscal year ending March 2024, while also reducing its losses. Kuku FM’s revenue from operations surged 2.1x year-on-year to Rs 88 crore in FY24, up from Rs 41 crore in FY23, according to its annual financial statements accessed from the Registrar of Companies. Kuku FM offers a diverse range of audio content across genres such as business, self-help, personal finance, history, religion, entertainment, and fitness. Revenue from paywalled subscription sales served as the sole source of income for Kuku FM. The Fundamental-backed company also made Rs 16 crore, primarily from interest on deposits and the sale of current investments, bringing total revenue to Rs 104 crore in FY24, up from Rs 49 crore in FY23. To expand its audio content reach, Kuku FM allocated over 50% of its total cash burn to advertising and marketing, which stood at Rs 102 crore in FY24—an 8.5% increase from FY23. Interestingly, spending on audio content creation was comparatively lower, at Rs 16 crore. According to financial statements, employee benefits for the Mumbai-based company grew by 37% in FY23. Meanwhile, information technology, legal, rent, payment gateway charges, and other overheads pushed total expenditure up by 21.2% to Rs 200 crore in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -234.69% -89.42% Expense/₹ of Op Revenue ₹4.02 ₹2.27 ROCE -91.41% -46.38% The two-fold increase in scale and controlled expenditure helped Kuku FM reduce its losses by 18% to Rs 96 crore in FY24, down from Rs 117 crore in FY23. Its ROCE and EBITDA margin stood at -46.38% and -89.42%, respectively. Per unit, it spent Rs 2.27 to earn a rupee in FY24. Note: Kuku FM’s total outstanding losses stood at Rs 289 crore at the end of the previous fiscal year (FY24). Kuku FM has raised $71 million to date, including a $25 million Series C round led by the International Finance Corporation (IFC) and Nandan Nilekani’s Fundamentum Partnership in October 2023. The company was last valued at around $185 million. Kuku FM is clearly a case of proving a widely held perception wrong (getting Indians to pay for audio content), and getting rewarded handsomely with funding for the same. For, even while it deserves credit for proving that a market exists, it faces the obvious challenge of finding each of those paying customers at a very high cost. And in the cut throat world of streaming platforms, the cost of keeping its flock together somehow. Multiple well established players means a genre that takes off is likely to be picked up elsewhere as well, and very soon at that. International billings for sticky content is one way out of course. What is interesting is the low investments into audio content creation, indicating a low belief in trying to own exclusive content. A firm to watch, both with some hope and trepidation.

Swiggy losses widens 74% to Rs 1,092 Cr in Q2 FY26, Instamart grows 2X

EntrackrEntrackr · 1m ago
Swiggy losses widens 74% to Rs 1,092 Cr in Q2 FY26, Instamart grows 2X
Medial

Swiggy reported a 54% YoY rise in operating revenue to Rs 5,561 crore in Q2 FY26 from Rs 3,601 crore a year earlier, while losses jumped over 74% during the quarter. Swiggy, the foodtech and quick commerce major, recorded a 54% year-on-year rise in operating revenue to Rs 5,561 crore in Q2 FY26 from Rs 3,601 crore in Q2 FY25. Despite the strong topline growth, the Bengaluru-based firm’s losses swelled by more than 74% in the quarter, according to its consolidated financial statements filed with the stock exchanges. Scootsy Logistics contributed the largest share, 46%, to Swiggy’s overall operating revenue. Its income grew 76% year-on-year to Rs 2,560 crore in Q2 FY26, up from Rs 1,453 crore in the same quarter last year. Swiggy’s food delivery business also grew strongly, rising 22% year-on-year to Rs 1,923 crore in Q2 FY26, and accounted for nearly 35% of the company’s total revenue during the quarter. Swiggy’s quick commerce arm, Instamart, also posted strong growth, with revenue doubling to Rs 980 crore in Q2 FY26 from Rs 490 crore in Q1 FY25. Swiggy’s Dine Out, Genie, Swiggy Mini and other non-operating income took its total revenue to Rs 5,620 crore in Q2 FY26. On the cost front, procurement of FMCG products for supply chain distribution accounted for 34.9% of Swiggy’s total expenses, rising 69% year-on-year to Rs 2,342 crore in Q2 FY26. Delivery expenses grew 30% to Rs 1,426 crore during the quarter. The company spent Rs 690 crore on employee benefits and Rs 1,039 crore on advertising, which surged 94% year-on-year. Depreciation and amortization expenses also increased 132% to Rs 304 crore. Overall, Swiggy’s total expenses for the quarter increased 56% to Rs 6,711 crore from Rs 4,309 crore in Q2 FY25. A 56% rise in total expenses, led by a 94% increase in advertising costs and a 132% jump in depreciation and amortization, widened Swiggy’s losses by over 74% to Rs 1,092 crore in Q2 FY26 from Rs 626 crore in Q2 FY25. For the first half of FY26, Swiggy reported revenue of Rs 10,522 crore, up 54% from Rs 6,824 crore in H1 FY25. However, its losses also widened by 85% to Rs 2,289 crore during the same period. Recently, Swiggy sold its stake in Rapido for Rs 1,968 crore to Prosus-owned MIH Investments One B.V. and Rs 431.5 crore to Setu AIF Trust and WestBridge, netting Rs 2,399.5 crore in total and earning over 2.5x returns on an investment made less than four years ago.

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