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PhysicsWallah spent Rs 1,426 Cr on salaries in FY25; Offline ARPU stood at Rs 40,405

EntrackrEntrackr · 1m ago
PhysicsWallah spent Rs 1,426 Cr on salaries in FY25; Offline ARPU stood at Rs 40,405
Medial

Fintrackr All Stories PhysicsWallah spent Rs 1,426 Cr on salaries in FY25; Offline ARPU stood at Rs 40,405 PhysicsWallah has filed draft papers with SEBI to raise Rs 3,820 crore through IPO. Its financial statement shows the company significantly narrowing its losses on the back of strong revenue growth across online, offline, and hybrid channels. PW’s operating revenue grew nearly 49% to Rs 2,887 crore in FY25 from Rs 1,941 crore in FY24. Income from coaching services remained the largest contributor at Rs 2,498.5 crore, with the online segment rising 45.5% to Rs 1,404 crore in FY25 from Rs 965 crore in FY24, while offline coaching grew 45.7% to Rs 1,352 crore from Rs 928 crore. The Average Revenue Per User (ARPU) in its offline channel has steadily improved from Rs 34,467 in FY23 to Rs 40,405 in FY25. The offline channel now contributes nearly 47% of the top line. Revenue from hostel fees and transportation added Rs 88 crore, and the sale of products jumped 74% to Rs 259 crore in FY25. India remained the core market contributing Rs 2,851 crore or 98.75% of the total operating revenue, while Dubai and the USA collectively accounted for Rs 36 crore or 1.25%. PhysicsWallah employed 5,096 faculty members in FY25, a 40% increase from 3,654 in FY24. Of these, 4,207 were permanent teachers while 889 were hired on a contractual basis. To support the larger base of faculty and other staff, the company’s spend on salaries grew nearly 28% to Rs 1,426 crore in FY25, accounting for 44% of its overall expenditure. Marketing expenses stood at Rs 448 crore for FY25. The company also spent Rs 123 crore on materials and Rs 366 crore on depreciation. Overall, PhysicsWallah kept its spending broadly flat at Rs 3,265 crore in FY25 as against Rs 3,279 crore in FY24. With controlled expenses and growing revenue, PW managed to bring down its burn significantly by 78.5% to Rs 243 crore in FY25 from Rs 1,131 crore in FY24. The company reported a positive EBITDA of Rs 192.5 crore in FY25 with an EBITDA margin of 6.33%. The company’s ROCE stood at -6.37%. On a unit level, the firm spent Rs 1.13 to earn a rupee in FY25, a sharp improvement from Rs 1.69 in FY24. The company reported current assets worth Rs 2,237 crore as of March 2025, including Rs 175 crore in cash and bank balances. The company disclosed a political contribution of Rs 37 lakh during FY25. As per DRHP, co-founders Alakh Pandey and Prateek Boob hold the largest stakes in the company at 40.35% each, followed by WestBridge Capital with 7.8%, while Hornbill Capital, GSV Ventures, and Lightspeed hold 4.42%, 2.85%, and 1.79%, respectively. PhysicsWallah acquired a 40% stake in UPSC coaching institute Sarrthi IAS.

Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%

EntrackrEntrackr · 21d ago
Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%
Medial

Fintrackr All Stories Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14% Cashfree struggled with growth in FY25, even after the Reserve Bank of India removed merchant onboarding restrictions for leading companies. State Bank of India-backed Cashfree is no exception, as the firm’s operating scale remained flat in FY25. Cashfree reported an operating revenue of Rs 640 crore in FY25 against Rs 643 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. The company claims to enable large businesses to process 12,000 transactions per second during peak demand. The revenue breakup for FY25 shows payment gateway commissions accounted for 75% of the operating revenue at Rs 481 crore. Payout commissions added another Rs 55 crore, while commission income from other services contributed the rest Rs 103 crore. With other income of around Rs 1 crore, the Bengaluru-based company posted a total income of Rs 641 crore in the last fiscal year. On the expense side, payment gateway processing cost accounted for 53% of the total expense, decreasing by 2% to Rs 419 crore in FY25 from Rs 427 crore in FY24. The company’s other key expense items include employee benefits, marketing, and technology investments. Its marketing expenses notably surged 150% to Rs 20 crore in FY25. The firm’s employee benefits costs remained flat at Rs 243 crore in FY25 compared to Rs 245 crore in FY24. Depreciation, finance cost and other overheads added another Rs 80 crore to the rising expenses. In the end, Cashfree’s total costs increased 2% to Rs 795 crore from Rs 779 crore last year. Although top-line performance remained stable, the company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal. Its EBITDA loss increased to Rs 132 crore, pushing the EBITDA margin down to -20.63% from -17.42% the previous year. In the coming year, Cashfree is expected to reduce its marketing expenses to lower losses and strengthen its financial position in FY26. The ban on real money gaming platforms is also expected to affect the business of payments firms including Cashfree significantly in the ongoing fiscal year. Ahead of FY26, Cashfree raised $53 million in a round led by Krafton, marking its first funding in nearly four years. Overall, the company has raised $95 million from investors including Y Combinator, Smilegate Investments, and the State Bank of India.

BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr

EntrackrEntrackr · 1m ago
BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr
Medial

BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Fintech unicorn BharatPe witnessed a turnaround in the previous fiscal year as it recorded steady growth in scale while achieving EBITDA profitability. The company also managed to significantly cut down its losses, which shrank by over 80% during FY25. BharatPe’s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Service fee income, which includes processing charges, commission on loan transactions, and rental income from the sale of machines and loudspeakers, remained the largest revenue driver for BharatPe, contributing 77.6% of operating revenue. This stream grew 15.8% year-on-year to Rs 1,456 crore in FY25. Revenue from the NBFC business rose to Rs 211 crore in FY25 from Rs 165 crore in FY24. Moreover, the company booked Rs 67 crore in non-operating income, pushing its total revenue to Rs 1,734 crore during the year. For BharatPe, transaction processing expenses accounted for 20.8% of the overall cost base at Rs 391 crore in FY25. Employee benefits remained steady at Rs 360 crore, which includes Rs 148.5 crore as ESOP (share-based payments). Its advertising spend saw a sharp 84% reduction to Rs 26 crore during the year. Other overheads, including outsourced services, merchant onboarding, and IT expenses, pushed the company’s total expenditure to Rs 1,876 crore in the fiscal year ending March 2025. The decent growth in scale, coupled with an effective cost mechanism, helped BharatPe to reduce its losses by 82.1% to Rs 88 crore in FY25 from Rs 492 crore in FY24. Notably, BharatPe reported a positive EBITDA of Rs 47 crore in FY25. Stripping out ESOP-related expenses, the company’s adjusted EBITDA would stand at Rs 195.5 crore for the year. BharatPe’s ROCE and EBITDA margins also improved to -3.8% and 2.82% respectively, in FY25. On a unit level, it spent Rs 1.13 to earn a rupee in FY25. At the end of the previous fiscal year, the company had total current assets of Rs 2,685 crore with cash and bank balances of Rs 872 crore. Earlier this month, BharatPe facilitated its first secondary transaction since 2021 at a valuation of $2.85 billion. To date, the fintech unicorn has raised over $650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue, and others.

Ola Electric’s revenue declines 26% Q-o-Q to Rs 1,214 Cr, losses up 43%

EntrackrEntrackr · 11m ago
Ola Electric’s revenue declines 26% Q-o-Q to Rs 1,214 Cr, losses up 43%
Medial

Electric two-wheeler manufacturer Ola Electric recorded a 26% decline in its operating revenue to Rs 1, 214 crore in Q2 FY25 when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. In a shareholders letter, the company attributed the year-on-year growth to a 73.6% rise in deliveries, which reached 98,619 units during Q2 FY25. Revenue from its automotive segment stood at Rs 1,215 crore, while the cell segment contributed Rs 1 crore. The firm also registered Rs 100 crore from other income which brought its total income to Rs 1,314 crore in Q2 FY25. Cost of materials was the largest burn for the Bhavish Aggarwal-led firm which jumped 46.6% to Rs 1,072 crore from Rs 731 crore in Q2 FY24. On a quarterly basis, the cost declined by 18% from Rs 1,311 crore in Q1 FY25. During Q2 FY25, employee benefits expenses stood at Rs 139 crore while other expenses, including operational and administrative costs, contributed Rs 465 crore. The firm’s total expenses for Q2 FY25 stood at Rs 1,593 crore, a 21.8% surge from Rs 1,308 crore in Q2 FY24. When compared on a sequential basis, the total expenses decreased by 13.8% from Rs 1,849 crore in Q1 FY25. Overall, the company posted a net loss of Rs 495 crore, a 42.65% increase from Rs 347 crore in the previous quarter (Q1 FY25). The losses were down by 5.5% year-on-year from Rs 524 crore in Q2 FY24. Among the venture funded companies, Ola Electric’s closest competitor Ather posted Rs 339 crore of revenue with a net loss of Rs 183 crore in Q1 FY25. Its Q2 results are yet to be announced. The Tarun Mehta-led firm also filed its draft IPO papers in September. After consecutive declines in market share, Ola Electric regained traction in October, with sales increasing during the festive period. The company sold 41,605 units in October, which helped its market share climb to 30% in the last month from 27% in September. However, this figure remains lower than its earlier market shares, which were 32% in August, 39% in July, and 49% in June. At the closure of stock exchange on November 8, Ola Electric’s shares were trading at Rs 72.72, nearly 54% below its peak of Rs 157.53 in mid-August.

Qure.ai’s losses widen 87% to Rs 90 Cr in FY25

EntrackrEntrackr · 3d ago
Qure.ai’s losses widen 87% to Rs 90 Cr in FY25
Medial

Qure.ai, a Mumbai-based healthtech startup leveraging artificial intelligence for radiology solutions, saw its losses nearly double in the fiscal year ending March 2025, even as it clocked steady revenue growth. Qure.ai’s operating revenue grew 24.5% to Rs 175.5 crore in FY25 from Rs 141 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). Qure.ai offers AI-driven solutions designed to assist radiologists and physicians in diagnosing critical conditions such as tuberculosis, lung cancer, and stroke. In the last fiscal year, sales of these tools and software contributed 86% of the company’s operating revenue, increasing by 23% to Rs 151 crore. The remaining revenue was generated from the sale of healthcare products. Geographically, the company continues to derive the bulk of its revenue from overseas markets. Revenue from outside India surged 39.6% to Rs 174 crore, forming over 99% of Qure.ai’s topline. Revenue from India, however, fell sharply by 80% to Rs 1.3 crore in FY25. In line with many tech and AI-driven companies, employee benefit expenses made up nearly 48% of overall costs, increasing to Rs 133 crore in FY25 from Rs 109 crore in FY24. Legal and professional fees climbed to Rs 37 crore, while cloud computing charges nearly doubled to Rs 18 crore. Depreciation also spiked to Rs 22 crore from Rs 12 crore a year earlier. Overall, Qure.ai’s total costs rose 39% to Rs 279 crore in FY25 from Rs 201 crore in FY24. Due to the company’s cost outpacing revenue growth, Qure.ai’s loss increased by 87.5% to Rs 90 crore in FY25 from Rs 48 crore in FY24. Its ROCE and EBITDA margin stood at -20.99% and -45.30% respectively. On a unit basis, the company spent Rs 1.59 to earn a rupee of operating revenue in FY25. The Mumbai-based company reported current assets worth Rs 406 crore in FY25 including Rs 35 crore in cash and bank balances. According to TheKredible, Qure.ai has raised a total of $121 million of funding till date, having Peak XV Partners, HealthQuad, and Novo Holdings as its lead investors. The company’s founder and CEO Prashant Warier owns 3.55% of the company.

Nykaa profit soars 80% to Rs 24.5 Cr in Q1 FY26

EntrackrEntrackr · 2m ago
Nykaa profit soars 80% to Rs 24.5 Cr in Q1 FY26
Medial

Online beauty and fashion platform Nykaa reported strong growth in Q1 FY26, with its revenue from operations rising 23% year-on-year and profits surging nearly 80% during the quarter ending June 2026. According to its financial statements sourced from the National Stock Exchange (NSE), Nykaa's revenue from operations grew to Rs 2,155 crore in Q1 FY26, compared to Rs 1,746 crore in Q1 FY25. On a quarter-on-quarter basis, Nykaa’s operating revenue increased 5% to Rs 2,155 crore in Q1 FY26 from Rs 2,061 crore in Q4 FY25. The beauty segment accounted for 92% of the total revenue at Rs 1,975 crore, while the fashion segment contributed 8% of the operating income in the Q1 FY25. For Nykaa, the cost of materials constituted 56% of its total expenditure, rising to Rs 1,193 crore in Q1 FY26. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,120 crore during the quarter. Steady growth in its scale helped Nykaa achieve nearly 80% increase in profit to Rs 24.5 crore in Q1 FY26, compared to Rs 13.64 crore in Q1 FY25. The Nykaa board has approved acquiring the remaining 40% stake in Nudge Wellness for Rs 0.15 crore, making it a wholly owned subsidiary. It has also approved additional share purchases in Earth Rhythm, increasing its stake to 75.83%. At the close of today's trading session, Nykaa's stock was priced at Rs 205.7, giving the company a market capitalization of Rs 58,828 crore (approx $6.7 billion).

EaseMyTrip revenue declines 15% in Q4 FY25

EntrackrEntrackr · 4m ago
EaseMyTrip revenue declines 15% in Q4 FY25
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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