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Netflix India FY23 revenue jumps 24%; profit soars 75%

Economic Times

Economic Times · 1y ago

Netflix India FY23 revenue jumps 24%; profit soars 75%

Netflix India reported a 24% increase in revenue in FY23 to Rs 2,214 crore, with net profit soaring 75% to Rs 35 crore. These results do not include the company's content investments, which are reported separately. The increase in revenue was driven by cheaper subscription plans and a larger selection of titles. However, Netflix India has not been able to scale up its business in India due to pricing and lack of local content compared to its competitors. The company is yet to introduce an ad-supported plan in India.

Related News

Netflix India’s net profit soars 75% to INR 35 cr in FY23

Inc42 · 1y ago

Netflix India’s net profit soars 75% to INR 35 cr in FY23

Netflix Entertainment Services India LLP, the Indian arm of streaming giant Netflix, reported a 75% increase in net profit to INR 35 Cr in the financial year 2022-23. The company's operating revenue also grew by 24% to INR 2,214 Cr. The rise in revenue is attributed to an increase in subscribers and comes at a time when Disney is in talks with Reliance Industries for a potential merger in the streaming industry. Netflix reduced its subscription plan prices in 2021, leading to improved customer engagement and higher subscriber numbers in 2022.

Netflix India’s Profit Jumps 49% To INR 52.4 Cr In FY24

Inc42 · 8m ago

Netflix India’s Profit Jumps 49% To INR 52.4 Cr In FY24

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.

Indian Movies, Shows Garner 100 Cr Views For Netflix In H2 2023

Inc42 · 1y ago

Indian Movies, Shows Garner 100 Cr Views For Netflix In H2 2023

During the latter half of 2023, the most-watched Indian movie on Netflix was "Jaane Jaan" directed by Sujoy Ghosh, with 20.2 million views. It was followed by "Jawan" with 16.2 million views. The top-performing Indian show on Netflix was "The Railway Men" with 10.6 million views, followed by "Kohraa" with 6.4 million views. Netflix India experienced a 75% year-on-year increase in net profits to INR 35 crore in FY23, while operating revenues rose by 24% to INR 2,214 crore during the same period.

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

Inc42 · 9m 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.

BookMyShow FY24 revenue jumps 43% on live events growth; online ticketing drives profitability

Economic Times

Economic Times · 7m ago

BookMyShow FY24 revenue jumps 43% on live events growth; online ticketing drives profitability

BookMyShow, an online entertainment ticketing platform, experienced a 43% YoY increase in scale, driven by significant growth in its live events segment. The company achieved profitability in FY23 and saw its net profit grow further in FY24 due to strong revenue growth. Online ticketing remains the biggest revenue and profit contributor, while the live events segment recorded a loss. BookMyShow faces competition from Zomato, which acquired Paytm's events and ticketing business, and is organizing large-scale music concerts. Operating cash flows decreased due to increased operational expenses, and total expenditure rose by 40%. BookMyShow leads India's entertainment ticketing market with a 75% market share. Uncertainty surrounds a planned investment by PE firm KKR following Zomato's acquisition.

Digital lending startup Moneyview's FY23 profit jumps 2616% to Rs 163 crore

IndianStartupNews

IndianStartupNews · 1y ago

Digital lending startup Moneyview's FY23 profit jumps 2616% to Rs 163 crore

Bengaluru-based fintech startup, Moneyview, has reported a 160% increase in operating revenue for FY23, reaching Rs 577 crore. The company also experienced an impressive 2,616% surge in profit to Rs 163 crore during the same period. This growth followed a successful Series E funding round in December 2022, where Moneyview raised $75 million. The company offers personalized credit products and has partnered with various non-banking financial companies (NBFCs). Revenue growth was primarily driven by fees and commissions on loan disbursals. Moneyview's controlled approach to spending has contributed to its profitability, with improved ROCE and EBITDA margin.

ixigo FY24: Profit Jumps Over 200% To INR 73.1 Cr, Train Bookings Biggest Revenue Source

Inc42 · 1y ago

ixigo FY24: Profit Jumps Over 200% To INR 73.1 Cr, Train Bookings Biggest Revenue Source

ixigo, an online travel platform in India, reported a 31% increase in operating revenue in the fiscal year, reaching INR 655.9 Cr. The train ticketing segment played a significant role in this growth, contributing INR 370.1 Cr, a 24% YoY increase. In the fourth quarter of FY24, ixigo achieved a net profit of INR 7.4 Cr with a revenue of INR 164.8 Cr.

Beardo crosses Rs 100 Cr revenue in FY23, slips into losses

Entrackr

Entrackr · 1y ago

Beardo crosses Rs 100 Cr revenue in FY23, slips into losses

Beardo, owned by Marico, saw a 12.2% increase in revenue to Rs 106.6 crore in FY23, despite a deceleration from its notable 50% growth in FY22. However, the company slipped into losses during FY23 after making its first-ever profit in FY22. High advertising costs and legal fees impacted its finances, leading to a loss of Rs 6.13 crore in FY23, compared to a profit of Rs 75 lakhs in FY22. The challenge for Beardo remains building a flagship brand to lead its portfolio in the competitive D2C sector.

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.

Oyo posts Rs 5,464 Cr income in FY23, loses 1287 Cr

Entrackr

Entrackr · 1y ago

Oyo posts Rs 5,464 Cr income in FY23, loses 1287 Cr

Oyo reported a revenue of Rs 5,464 crore in FY23, growing at a rate of 14.3% compared to the previous fiscal year. The company has narrowed down its losses by 33.7% to Rs 1,287 crore. A significant portion of Oyo's revenue (75%) comes from outside India, while domestic income accounts for 25%. The firm aims to achieve its first-ever profit in the second quarter of FY24. Oyo has raised over $3.4 billion in funding and its largest stakeholder is SoftBank with a 42.62% stake.

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