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Chai Kings bags $3 Mn in Series A round

EntrackrEntrackr · 10m ago
Chai Kings bags $3 Mn in Series A round
Medial

Snippets Chai Kings bags $3 Mn in Series A round Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Earlier in January 2020, the tea brand had raised $1 million in its seed round from Chennai Angels (TCA), Hyderabad Angels and TiE India Angels. As part of this round, The Chennai Angels (TCA) are making a partial exit with substantial returns. The proceeds will be used to accelerate its expansion plans, enhance its product offerings, and further strengthen its supply chain. It will also be used in customer engagement and operational efficiencies. Founded by Jahabar Sadique and Balaji Sadagopan, Chai Kings offers a premium and hygienic chai experience, serving a diverse range of tea blends with a focus on quality, sustainability, and customer delight. Since its inception in 2016, Chai Kings claims to have operated 57 stores across Chennai, Hyderabad, and Coimbatore. The brand is known for its quality tea offerings, sustainable packaging, and customer-centric approach. Chai Kings claims that it will close FY25 with a revenue of Rs 48 crore with a positive EBITDA. The firm has plans to double its revenue over the next two years while maintaining profitability.

MakeMyTrip posts $295 Mn revenue in Q3 FY26; profit down 74%

EntrackrEntrackr · 14d ago
MakeMyTrip posts $295 Mn revenue in Q3 FY26; profit down 74%
Medial

MakeMyTrip posts $295 Mn revenue in Q3 FY26; profit down 74% Online travel booking (OTA) giant MakeMyTrip, which is listed on NASDAQ, has announced its financial results for the third quarter of the ongoing fiscal year ending December 31, 2026. The company’s profit decreased by 74% in the period. MakeMyTrip’s operating revenue increased by 11% to $295.7 million in Q3 FY26 from $267 million in Q3 FY25, as per its financial statements filed with NASDAQ. Hotels and packaging contributed 54% of the company’s revenue, which increased by 9.5% to $191 million in Q3 FY26, up from $147 million in Q3 FY25. Air ticketing accounted for 20% of the revenue, generating $60 million, while bus ticketing generated $37 million in the period. For the nine-month period, the company’s revenue increased by 8% to $794 million from $733 million, a year earlier. MakeMyTrip’s total expenses rose 18% to $289 million in Q3 FY26 from $244 million in Q3 FY25. Service cost accounted for 30% of the total, increasing 14% to $88 million in Q3 FY26. Finance cost, personal expense, and advertising were other major costs for MakeMyTrip in the last quarter. With the company’s expenses increasing more than revenue, MakeMyTrip’s profit decreased by 74% to $7 million in Q3 FY26 compared to $27 million in Q3 FY25. On a unit basis, the Gurugram-based company spent Rs 0.98 to earn a rupee of operating revenue during the last quarter.

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