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LIC Q3 profit up 49% at ₹9,444 cr, net premium income grows 4.6%
Livemint
·
1y ago
Medial
Life Insurance Corporation of India (LIC) reported a 49% increase in profit, reaching ₹9,444 crore for the third quarter ending December 2023. The company's board also approved an interim dividend of ₹4 per share. LIC attributes its positive results to its focused approach towards diversifying its product mix and strategic interventions. The insurer aims to enhance value for stakeholders and develop new products to meet the evolving needs of customers.
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Here's why LIC net profit fell 50% to Rs 7,925 crore in Q2 FY24
IndianStartupNews
·
1y ago
Medial
Insurance giant Life Insurance Corporation of India (LIC) reported a 50% drop in net profit for the second quarter of the financial year 2024, amounting to Rs 7,925 crore. The decline was attributed to a decrease in net premium income and a change in accounting policy. However, LIC saw a rise in income from investments and improvements in solvency margin and gross non-performing assets ratio. While LIC's group business performance showed mixed results, the chairman expressed optimism for future growth. Other leaders in the Indian insurance market include SBI Life, HDFC Life, and ICICI Prudential Life.
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CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25
Entrackr
·
6m ago
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.
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MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29%
Entrackr
·
3m ago
Medial
MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29% CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the fourth quarter of FY25. The company reported a year-on-year revenue growth of over 34% compared to Q4 FY24. MapMyIndia’s revenue from operations increased to Rs 143 crore in Q4 FY25 from Rs 107 crore in Q4 FY24. Meanwhile, for the full fiscal year, revenue increased by 22% to Rs 463 crore in FY25 from Rs 379 crore in FY24, according to its consolidated quarterly report. Income from digital map data, GPS navigation, location-based services, and IoT was the primary source of revenue for MapMyIndia, accounting for 88% of the total collection. This revenue source increased by 51% to Rs 127 crore in Q4 FY25. However, income from the sale of its devices generated Rs 16.5 crore in revenue. The cost of IoT devices, employee benefits, and outsourced technical services were the major cost elements, pushing the total cost of the firm to Rs 90 crore in Q4 FY25, up from Rs 72 crore in Q4 FY24. On a fiscal basis, the total cost increased to Rs 306 crore in FY25. With the increase in scale, MapMyIndia recorded a 29% increase in its profit to Rs 49 crore during Q4 FY25, compared to Rs 38 crore in the fourth quarter of the previous fiscal year. Meanwhile, annual profit increased by 10% to Rs 148 crore in FY25, up from Rs 134 crore in FY24. At the end of the day on 9th May 2025, MapMyIndia closed at Rs 1,845 per share, with a market capitalization of Rs 10,040 crore ($1.17 billion).
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Reliance posts record Rs 21,930 Cr profit as Jio, retail fuel growth
YourStory
·
6m ago
Medial
Reliance Industries Ltd reported a record net profit of Rs 21,930 crore for Q3 of fiscal 2024-25, boosted by performances in retail and telecom. Consolidated revenue rose 7.7% to Rs 2,67,186 crore. Reliance Jio's profit increased by 25.9%, with revenue up by 19.2%. Reliance Retail's profit grew by 10.1%, with revenue up by 8.8%, driven by new stores and festive demand. The O2C segment's revenue modestly increased by 6% amid weaker refining margins.
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LIC decreases stake by 2 percent in air conditioners giant Voltas | Mint
Livemint
·
12m ago
Medial
Life Insurance Corporation of India (LIC) has reduced its equity stake in Voltas, dropping from 6.856% to 4.754%. LIC purchased 15,731,283 shares of Voltas at an average cost of ₹1,502.931 per share. Voltas, an EPC contractor in the air conditioning and refrigeration sector, reported a two-fold increase in net profit for Q1 2024, reaching ₹335 crores. Additionally, the company achieved over one million units of AC sales during this period with total income surpassing the ₹5,000-crore mark. However, Voltas' share price dropped 10.45% on August 13.
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MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25
Entrackr
·
6m ago
Medial
MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25 Fintech platform MobiKwik reported its quarterly results for the third quarter of the ongoing fiscal year (Q3 FY25) on the stock exchange today, reflecting a 17.5% year-on-year growth. MobiKwik’s revenue from operations increased to Rs 269 crore in Q3 FY25 from Rs 229 crore in Q3 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. However, Mobikwik's earnings were reduced by 7.6% in Q3 FY25, compared to Rs 291 crore in Q2 FY25. MobiKwik's primary revenue sources in Q3 FY25 were commissions on recharges, processing, and interest on servicing loans, payment gateways, and technology platforms. However, the company did not provide an income breakdown in its quarterly report. Notably, Mobikwik's payment business grew 166% in Q3 FY25 to Rs 196.5 crore. According to the press release, MobiKwik's registered user base has grown to 167 million with 5 million merchants. The company’s payment of GMV has also increased by 2X year-on-year to Rs 29,400 crore. On the cost side, expenditures on the payment gateway were the largest cost center, accounting for 45.4% of the overall cost, which stood at Rs 144 crore in Q3 FY25. The cost of employee benefits and lending fees was recorded at Rs 44 crore and Rs 25 crore, respectively. Its financial guarantee, legal, advertising, finance, and other overheads took its total expenditure up by 44.1% to Rs 317 crore in Q3 FY25 from Rs 220 crore in Q3 FY24. In the end, Mobikwik reported a net loss of Rs 55.2 crore in Q3FY25, compared to a profit of Rs 5.1 crore in the same quarter of the previous fiscal year. During the first nine months of the ongoing fiscal year, its bottom line is negative at Rs 65.4 crore. Mobikwik made its debut on the stock exchange last Dec 24 with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 406.75 (as of 14:25) with a total market capitalization of Rs 3,160 crore or (approximately $376 million).
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Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%
Entrackr
·
1y ago
Medial
Foodtech and quick commerce platform Zomato on Monday released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY24). With the steady expansion, the company has witnessed around 27% increase in its profit along with marginal growth in revenue. Zomato’s revenue from operations grew 8.3% to Rs 3,562 crore in Q4 FY24 in contrast to Rs 3,288 crore in Q3 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. With this, Zomato’s overall revenue for the fiscal year ending March 2024 jumped 71% to Rs 12,114 crore from Rs 7,079 in FY23. Zomato operates several business units including a food marketplace, Hyperpure and quick commerce platform BlinkIt. Income from food and delivery biz accounted for 48.8% in Q4 FY24 which grew 2.1% to Rs 1,739 in Q4 FY24 from Rs Rs 1,704 crore in Q3 FY24. The collections from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 10.7% and 19.4% to Rs 951 crore and Rs 769 crore, respectively. Earning from “Going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 3,797 crore in Q4 FY24. The cost for delivery and related charges formed 30.7% of the overall expenditure which increased 4.7% to Rs 1,118 crore in Q4 FY24. Its cost of procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs 3,636 in Q4FY24 from Rs 3,382 in Q3FY24. The optimum cost mechanism and increased scale helped Zomato to record a 26.8% hike in its profits to Rs 175 in Q4 FY24 from Rs 138 crore in Q3 FY24. On a unit level, the Gurugram-based company spent Rs 1.02 to earn a rupee in Q4 FY24.
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Info Edge Q3: PAT Jumps 157% YoY To INR 119.4 Cr
Inc42
·
1y ago
Medial
Online classifieds major Info Edge reported a 157% YoY increase in consolidated net profit to INR 119.4 Cr in Q3 FY24. The growth was largely due to an exceptional loss of INR 411.8 Cr in the year-ago quarter. Despite this, total revenue declined by nearly 32% YoY to INR 659.8 Cr, primarily due to a drop in other income. Info Edge's online recruitment platform Naukri.com saw a 3.6% YoY increase in revenue, while its real estate portal 99acres.com recorded a 12.1% YoY growth.
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Netflix India’s Profit Jumps 49% To INR 52.4 Cr In FY24
Inc42
·
9m ago
Medial
Netflix India's net profit for the fiscal year 2023-24 increased by 49% to INR 52.4 Cr compared to the previous year. The company's revenue also rose by 28.5% to INR 2,845.7 Cr. Additionally, Netflix India successfully reduced its personnel expenses by 10.6% to INR 105.98 Cr during the same period.
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Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X
Entrackr
·
1y ago
Medial
Paytm Money, the trading platform owned by One97 Communications, reported a two-fold growth in scale and achieved profitability in FY23. Its operating revenue increased to Rs 131.3 crore, with income from brokerage and depository services being the primary source. The company posted a profit of Rs 42 crore, compared to a loss of Rs 10.72 crore in FY22. Despite competition from rivals like Groww and Zerodha, Paytm Money's focus on commission income and the expanding market has contributed to its success.
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