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Meesho’s FY24 Net Loss Declines 82% To INR 305 Cr

Inc42 · 9m ago

Meesho’s FY24 Net Loss Declines 82% To INR 305 Cr

Indian e-commerce platform Meesho reported positive financial results for the fiscal year 2023-2024. The company experienced a significant increase in revenue, with a growth rate of 32.8% year-on-year, resulting in improved margins. Despite a rise in total expenditure, Meesho's adjusted net loss narrowed by an impressive 96.6%, indicating positive progress for the company. These results demonstrate Meesho's ability to effectively navigate the competitive e-commerce market in India.

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D2C brand Bewakoof’s loss halves to INR 12.7 Cr in FY23, sales dip 8%

Inc42 · 1y ago

D2C brand Bewakoof, owned by Aditya Birla Group’s TMRW, managed to reduce its loss by almost 60% in FY23, reporting a net loss of INR 12.7 Cr. However, its operating revenue dipped 8% to INR 147.1 Cr. The startup's other income surged 64% to INR 82 Cr, contributing to the decline in net loss. Total expenditure remained almost flat at INR 241.8 Cr, with the highest amount spent on procurement of finished goods. Aditya Birla Group's TMRW invested INR 200 Cr in Bewakoof to acquire a majority stake in the startup.

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Inc42 · 10m ago

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Indian startup OPEN, backed by Temasek, saw a 30% decrease in net loss for FY24, down to INR 170 Cr. The total expenditure also dropped 34% to INR 194.6 Cr. However, OPEN spent INR 7.84 for every rupee earned from operations in FY24.

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Inc42 · 10m ago

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Swiggy's net loss for FY24 was INR 2,350 Cr, a decrease from the previous year's loss of INR 4,179.3 Cr. However, its operating revenue saw a 36% increase, reaching INR 11,247.3 Cr compared to INR 8,264.5 Cr in FY23. The company also improved its EBITDA margin from -46.4% in FY23 to -16.2% in FY24.

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Inc42 · 1y ago

Yudiz Posts INR 2.9 Cr Loss In FY24, Revenue Tanks In H2

Yudiz Solutions reported a net profit of INR 1.33 crore in the first half of FY24, but recorded a loss of INR 4.2 crore in the second half. The company's operating revenue declined to INR 10.3 crore in H2 FY24 from INR 15.9 crore in H1 FY24, representing a year-on-year decrease of 37.2%. In FY23, Yudiz achieved a net profit of INR 2.7 crore on an operating revenue of INR 27.3 crore.

OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

Inc42 · 11m ago

OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

OYO reported a net profit of INR 229.5 Cr in FY24, a significant improvement from the net loss of INR 1,286.5 Cr in the previous fiscal year. This profitability was mainly due to reduced expenses. However, the company's revenue from operations saw a slight decline of 1.3% to INR 5,388.7 Cr in FY24 compared to INR 5,463.9 Cr in the previous year. OYO also managed to cut down its total expenditure by 16% to INR 5,725.7 Cr in FY24.

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Inc42 · 1y ago

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Ola Electric has filed for an IPO to raise INR 5,500 Cr by issuing new shares. The startup's sales in the first three months of FY24 reached INR 1,242.7 Cr, almost half of the revenue reported in FY23. Ola Electric's primary source of revenue comes from two-wheeler sales. The company reported a net loss of INR 268 Cr in Q1 of FY24 and a net loss of INR 1,471.6 Cr in FY23. Its major expenditure is on procurement, which accounted for 76% of total expenses in Q1 of FY24. Ola Electric competes with Ather, Bounce Infinity, Hero, Revolt, TVS, Okinawa, among others.

CarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

Inc42 · 1y ago

CarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

CarTrade Technologies, the online classifieds and auto auction platform, reported a net loss of INR 23.5 Cr in Q3 FY24, mainly due to the loss in the auto sales division of OLX business that it shut down during the quarter. However, excluding the discontinued operations, CarTrade posted a net profit of INR 21.96 Cr. Its operating revenue increased by over 42% to INR 138.6 Cr in Q3 FY24. CarTrade received an average of 70 million monthly unique visitors, with more than 90% being organic.

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.

Zypp Electric’s Revenue Zooms 2.7X, Nears INR 300 Cr Mark

Inc42 · 9m ago

Zypp Electric’s Revenue Zooms 2.7X, Nears INR 300 Cr Mark

Akash Gupta's startup recorded a revenue of INR 292.7 Cr in FY24, marking a 168% growth compared to the previous fiscal year. Adding other income, the total revenue reached INR 302.6 Cr. However, despite the increase in revenue, the startup experienced a net loss of INR 91.1 Cr, which was a 125% rise from the previous year's INR 40 Cr loss.

DealShare’s FY24 Revenue Plummets 75% To INR 500 Cr

Inc42 · 9m ago

DealShare’s FY24 Revenue Plummets 75% To INR 500 Cr

The Indian startup, DealShare, based in Delhi NCR, experienced a significant decrease in operating revenue for the fiscal year. Their revenue dropped from INR 1,963.5 Cr to INR 499 Cr. However, the company managed to narrow its net loss by 67% during this period. The loss decreased from INR 503 Cr to INR 167.7 Cr. DealShare attributed this improvement to a reduction in expenditure by 70%, cutting costs from INR 2,557.6 Cr to INR 768.1 Cr in FY24.

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