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PhonePe FY24 operating revenue up 73% to Rs 5,064 crore, loss down 28%
Economic Times
·
9m ago
Medial
PhonePe, a leading digital payments company, reported a 73% increase in operating revenue to Rs 5,064 crore in FY24. The net loss for the year decreased by 28% to Rs 1,996 crore. The company's expenses rose by 31%, primarily driven by employee expenses and payment processing charges. PhonePe recorded a profit of Rs 197 crore, excluding employee stock ownership costs, indicating positive progress in its operational business. It has reduced cashback and incentive-based expenses significantly and diversified its revenue streams to stabilize growth. The company aims to achieve profitability through disciplined financial management.
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Related News
PhonePe turns adjusted PAT positive in FY23-24
YourStory
·
11m ago
Medial
PhonePe, the digital payments company, has reported a profit of Rs 197 crore in the fiscal year 2023-2024, rebounding from a loss of Rs 738 crore the previous year. Its revenue grew by 74% year-on-year to Rs 5,064 crore. The standalone payments business also saw significant improvement, achieving a profit of Rs 710 crore compared to a loss of Rs 194 crore in the prior year. PhonePe attributes its growth and profitability to its market leadership and platform reliability. It currently leads the Indian UPI landscape, processing over 10 lakh crore worth of payments.
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PhonePe begins IPO preparations to list in India
Economic Times
·
5m ago
Medial
PhonePe, backed by Walmart, has begun preparing for a potential IPO in India, without disclosing a specific timeline. The fintech giant, with a $12 billion valuation as of May 2023, has over 590 million users and processes 310 million transactions daily. After relocating its headquarters to India, PhonePe restructured its various ventures as separate entities. It ended FY2024 with Rs 5,064 crore in revenue, posting a net loss of Rs 1,996 crore.
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Ixigo reports strong growth with 73% surge in revenue, net profit rises to Rs 19 crore - The Economic Times
Economic Times
·
23d ago
Medial
Ixigo reported a 73% year-on-year increase in operating revenue, reaching Rs 314 crore, driven by strong travel demand and digital bookings. Net profit rose to Rs 19 crore, up from Rs 15 crore in Q1 FY25.
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Swiggy’s FY23 revenue grows 45% to Rs 8,265 crore; net loss stands at Rs. 4179 crore.
Economic Times
·
1y ago
Medial
Food and grocery-delivery firm Swiggy reported a 45% jump in operating revenue for fiscal year ended March 2023 to Rs 8,265 crore. However, its net loss expanded 15% to Rs 4,179 crore. Swiggy's expenses in FY23 totaled Rs 12,884 crore, up 34% from the previous year. Marketing expenses accounted for 28% of operating revenue, compared to 44% in FY22. Swiggy is implementing cost-cutting measures and aims to achieve profitability ahead of its planned IPO.
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Deloitte flags lapses in Dailyhunt parent VerSe Innovation’s FY24 accounts
Economic Times
·
3m ago
Medial
Deloitte has identified financial reporting issues in VerSe Innovation's FY24 accounts, highlighting potential misstatements due to inadequate internal controls over supplier selection and payments. Concerns include unexplained invoices and changes in previous figures, with potential preferential treatments and misappropriations. Despite these lapses, VerSe reported a reduced net loss of Rs 889 crore, down 54% from the previous year, while operating revenue slightly decreased from Rs 1,104 crore in FY23 to Rs 1,029 crore in FY24.
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EaseMyTrip revenue declines 15% in Q4 FY25
Entrackr
·
2m ago
Medial
EaseMyTrip revenue declines 15% in Q4 FY25 Online travel aggregator (OTA) platform EaseMyTrip saw a slight year-on-year decline in both revenue and profit during the fourth quarter of FY25, indicating stagnant growth during the period. EaseMyTrip’s operating revenue decreased by 15% to Rs 139 crore in Q4 FY25 from Rs 164 crore in Q4 FY24, as per its consolidated financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), EaseMyTrip’s operating revenue remained stable at Rs 587 crore in FY25 as compared to Rs 590 crore in FY24. Air ticketing contributed 68% to the company’s revenue but declined by 28% to Rs 94 crore in Q4 FY25, down from Rs 132 crore in Q4 FY24. Meanwhile, hotel packages accounted for 16.5% of the total revenue, bringing in Rs 23 crore. To the tune of scale, its total expense increased by 12% to Rs 131 crore in Q4 FY25 from Rs 117 crore in Q4 FY24. Service cost, payment gateway, employee benefit and costs were other major overheads for EaseMyTrip during the last quarter. For the full fiscal year ending March 2025, the total expenses rose to Rs 460 crore. EaseMyTrip booked profit before tax (PBT) of Rs 12 crore in Q4 FY25 as compared to a loss of Rs 17 crore in Q4 FY24. During FY25, the firm’s profit before tax stood at Rs 143 crore in FY25 from Rs 142 crore in FY24. EaseMyTrip closed the last trading session at Rs 11.28, with a 0.71% increase in its share price. The company’s total market capitalization stood at Rs 3,997 crore.
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Groww pays $160 mn in tax for US to India domicile shift
The Arc Web
·
9m ago
Medial
Investment platform Groww paid Rs 1,340 crore ($160 million) in taxes while shifting its domicile from USA to India in FY24, representing 5.33% of its $3 billion valuation. The company managed to reduce its tax liability by demonstrating lower valuations compared to similar companies. This contrasts with PhonePe, which paid $1 billion in taxes (18% of valuation) when moving from Singapore to India. Despite the one-time tax expense causing a net loss of Rs 805 crore, Groww's operating profits increased by 17% to Rs 535 crore, with total revenues up 119% to Rs 3,145 crore in FY24.
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Yatra profit spikes 2.7X in Q4 FY25; revenue doubles
Entrackr
·
2m ago
Medial
Yatra's profit surged 2.7 times in Q4 FY25, with revenue doubling year-on-year. Revenue from operations increased to Rs 219 crore in Q4 FY25 from Rs 108 crore in Q4 FY24. For FY25, operating revenue rose 87% to Rs 791 crore from Rs 422 crore in FY24. Total income for Q4 FY25 was Rs 228 crore, and FY25 total income stood at Rs 823 crore. Expenses totaled Rs 215 crore in Q4 FY25 and Rs 788 crore for FY25. The company's profit reached Rs 15 crore in Q4 FY25, up from Rs 5.5 crore in Q4 FY24. For FY25, Yatra reported a profit of Rs 36.5 crore against a loss of Rs 4.5 crore in FY24. Yatra's share price is Rs 98.23, with a market capitalization of Rs 1,541 crore.
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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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Ixigo posts Rs 284 Cr revenue Q4 FY25; profit jumps 2.4X
Entrackr
·
2m ago
Medial
Ixigo released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25) on Wednesday. The company reported a 72% growth in scale, while its year-on-year (YoY) profits increased by 2.4X during the same period. Ixigo’s revenue from operations surged 72% to Rs 284 crore in Q4 FY25 in contrast to Rs 165 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ixigo’s operating revenue increased 39% to Rs 914 crore in FY25 from Rs 656 crore in FY24. The Gurugram-based company generated the largest share (44%) of its operating revenue from train ticketing, which rose to Rs 124 crore in Q4 FY25 from Rs 94 crore in Q4 FY24. Flight and bus booking services contributed 30% and 23% to the company’s revenue, respectively. According to the company, its gross transaction value (GTV) grew 65% year-on-year to Rs 4,418 crore in the fourth quarter of FY25, as compared to Rs 2,685 crore in the same quarter of the previous year. Besides operating revenue, the firm also earned Rs 6 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 290 crore in the quarter ending March 2025. Ixigo has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 31% YoY to Rs 46 crore. Overall, the company's total costs grew 73% to Rs 263 crore in Q4 FY25 compared to Rs 152 crore in Q4 FY24. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 846 crore as against Rs 628 crore in FY24. In the end, Ixigo's net profits surged 2.4X to Rs 17 crore in Q4 FY25 from Rs 7 crore in Q4 FY24. On a fiscal basis, its net profit decreased 18% to Rs 60 crore in FY25 from Rs 73 crore in FY24. Ixigo is currently trading at Rs 167 at the end of today’s session with a total market capitalization of Rs 6,500 crore (approximately $760 million).
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