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MediBuddy’s FY23 loss jumps 24% to INR 321.7 Cr as business grows

Inc42 · 1y ago

MediBuddy’s FY23 loss jumps 24% to INR 321.7 Cr as business grows

Bengaluru-based healthtech startup MediBuddy reported a net loss of INR 321.7 Cr in FY23, a 24% increase compared to the previous fiscal year. However, the company's operating revenue saw a growth of 27.2% to INR 297.7 Cr during the same period. MediBuddy offers video consultations, lab test bookings, and medicine ordering services. The total expenses of the company increased by over 30%, with the cost of materials consumed being the largest contributor. MediBuddy has raised funds from investors like Quadria Capital, Lightrock India, and Bessemer Venture Partners.

Related News

Wakefit Claims EBITDA Profitability In FY24, Revenue Jumps 24% To INR 1,017 Cr

Inc42 · 11m ago

Wakefit Claims EBITDA Profitability In FY24, Revenue Jumps 24% To INR 1,017 Cr

Wakefit, a sleep solutions startup, announced an EBITDA profit of INR 65 Cr for FY24, along with a revenue increase of 24% to INR 1,017 Cr. This is a significant improvement from the net loss of INR 146 Cr reported in FY23, indicating positive growth for the company.

eShakti FY23: Net Loss Jumps 23% To INR 46.1 Cr, Revenue Up 19%

Inc42 · 1y ago

eShakti FY23: Net Loss Jumps 23% To INR 46.1 Cr, Revenue Up 19%

Chennai-based fashion ecommerce platform eShakti has reported a 23% increase in net loss for the year ending March 31, 2023. The company's loss amounted to INR 46.1 Cr in FY23 compared to INR 37.5 Cr in the previous year. This higher loss was primarily due to increased expenditure, which rose by 21% to INR 203.9 Cr in FY23. On the positive side, eShakti's operating revenue grew by 19% to INR 154.5 Cr in FY23 from INR 129.9 Cr in FY22.

Pine Labs’ FY23 operating revenue grows 37% to INR 1,280 Cr, net loss doubles

Inc42 · 1y ago

Pine Labs’ FY23 operating revenue grows 37% to INR 1,280 Cr, net loss doubles

Fintech unicorn Pine Labs reported a consolidated net loss of INR 56.2 crore ($8 million) in the 2022-23 financial year, more than double the net loss of INR 22.6 crore ($3 million) in the previous year. The company's operating revenue surpassed INR 1,000 crore ($136 million), growing 37% to INR 1,280.5 crore ($174 million). Pine Labs generates revenue from digital payments and issuing businesses, with revenue from sale of services reaching INR 1,013.8 crore ($138 million) in FY23. The company's revenue from India grew 37% to INR 1,253.7 crore ($170 million), while income from global markets increased 51% to INR 268.7 crore ($36 million).

IPO-Bound FirstCry reports INR 278 Cr loss in nine months of FY24

Inc42 · 1y ago

IPO-Bound FirstCry reports INR 278 Cr loss in nine months of FY24

Kids-focussed omnichannel retailer Firstcry posted a consolidated net loss of INR 278.2 Cr for the nine months ending December 2023 in the financial year 2023-24 (FY24). The Pune-based startup posted a consolidated net loss of INR 486 Cr in the full financial year 2022-23 (FY23), a 518% increase from INR 78.6 Cr in the previous fiscal year.

Groww Creditserv’s Loan Book Grows 31% QoQ To INR 965.44 Cr At The End Of June Quarter

Inc42 · 11m ago

Groww Creditserv’s Loan Book Grows 31% QoQ To INR 965.44 Cr At The End Of June Quarter

Groww Creditserv, an NBFC of invest tech unicorn Groww, reported a loss of INR 24.1 Cr in FY24, compared to a loss of INR 2.8 Cr in FY23. According to rating agency ICRA, personal loans constituted 98% of the total loan book, while consumer durable loans made up the rest. Groww Creditserv obtained an NBFC license from RBI in late 2022.

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Inc42 · 1y ago

Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Ola Financial Services recorded a net loss of INR 54.6 Cr in FY23, compared to a profit of INR 8.6 Cr in FY22. Ola's parent company, ANI Technologies, reduced its consolidated net loss by 49.2% to INR 772.2 Cr in FY23. Ola's sales increased by 63% to INR 1,987.5 Cr, while its net loss decreased by 64.8% to INR 1,082.5 Cr in FY23. Ola's rival, Uber India, saw its net sales rise by 54% to INR 2,666.1 Cr in FY23, with a loss of INR 311.3 Cr. Ola Electric is also planning an IPO to raise funds.

Shiprocket’s FY24 Revenue Jumps 21% To INR 1,316

Inc42 · 10m ago

Shiprocket’s FY24 Revenue Jumps 21% To INR 1,316

The company is progressing towards profitability by FY2025 but faced widened loss margins due to various factors. The logistics unicorn recorded a net loss of INR 595 Cr in FY24, compared to INR 341 Cr in FY23. The company also issued ESOPs worth INR 192 Cr and made investments in emerging businesses, overheads, and capability-building during the year.

IPO-Bound Ola Electric’s FY24 Net Loss Widens To INR 1,584 Cr, Revenue Jumps 90%

Inc42 · 1y ago

IPO-Bound Ola Electric’s FY24 Net Loss Widens To INR 1,584 Cr, Revenue Jumps 90%

Ola Electric, the electric mobility startup led by Bhavish Aggarwal, reported an increase in net loss for the financial year 2023-24. The company's net loss widened by 7.6% to INR 1,584.4 crore from the previous year. However, Ola Electric's operating revenue surged over 90% to INR 5,009.8 crore during the same period, driven by a substantial growth in vehicle sales. Ola Electric's initial public offering (IPO) is set to open for retail subscriptions from August 2 to August 6.

Scaler’s Loss Almost Doubles To INR 330 Cr In FY23, Operating Revenue Jumps Over 4X

Inc42 · 1y ago

Scaler’s Loss Almost Doubles To INR 330 Cr In FY23, Operating Revenue Jumps Over 4X

Edtech platform Scaler recorded a net loss of INR 330.3 crore in FY23, a 90% increase from the previous fiscal year. The loss was attributed to higher advertising and marketing expenses related to the launch of new courses. Despite operating revenue of INR 316.7 crore, four times that of the previous year, the company's bottom line suffered. Scaler provides upskilling programs for tech professionals and raised $55 million in Series B funding last year to support international expansion, develop new products, recruit talent, and make acquisitions.

BharatPe posts INR 927 Cr loss in FY23, revenue crosses INR 1,000 Cr mark

Inc42 · 1y ago

BharatPe posts INR 927 Cr loss in FY23, revenue crosses INR 1,000 Cr mark

BharatPe, a fintech startup backed by Peak XV Partners, reported a net loss of INR 927 crore in the financial year 2022-23 (FY23), along with a consolidated operating revenue of INR 1,028.9 crore, marking a 125% increase from the previous fiscal year. The company witnessed significant growth in its merchant lending business, with loans worth INR 5,339 crore disbursed in FY23. Despite the increase in revenue, the net loss rose by 12% due to one-time non-operating expenses. BharatPe provides digital services and lending solutions to merchants and operates across 450 cities with more than 13 million registered merchants in its network.

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