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Rapido joins Rs 1,000 Cr income club in FY25, delivery biz outpaces ride-hailing

EntrackrEntrackr · 3d ago
Rapido joins Rs 1,000 Cr income club in FY25, delivery biz outpaces ride-hailing
Medial

Fintrackr All Stories Rapido joins Rs 1,000 Cr income club in FY25, delivery biz outpaces ride-hailing Rapido’s revenue from operations increased to Rs 934 crore in FY25 from Rs 648 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies. Mobility firm Rapido has remained in the spotlight over the past year after delivering handsome returns to TVS, Swiggy, Prosus, Accel, and other early backers. It also drew wider attention after Uber CEO Dara Khosrowshahi publicly acknowledged it as a bigger rival. Meanwhile, during the fiscal year ended March 2025, Rapido reported a 44% year-on-year growth in revenue while managing to narrow its losses. Rapido’s revenue from operations increased to Rs 934 crore in FY25 from Rs 648 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies. Rapido primarily earns money by charging a commission on rides completed on its platform across two, three, and four-wheelers. This platform-led income accounted for 29% of the company’s total revenue in FY25 but declined 23.5% year-on-year to Rs 277 crore. At the same time, Rapido’s delivery business, where customers pay the company to move food and parcels through its captains, continued to gain traction. Revenue from delivery services increased by 28.3% to Rs 340 crore during the year, making it the company’s largest single revenue stream. It is worth noting that passenger revenue was the firm’s largest component in FY24, but it was overtaken by the delivery business in FY25. Subscription income, collected from captains and users who pay for ride passes and platform benefits, emerged as a key growth driver, surging nearly 14X to Rs 275 crore. Meanwhile, income from passenger transportation services, where Rapido directly operates vehicles, stood at Rs 21 crore. Revenue, largely from sponsored listings on the app, came in at Rs 16 crore, while other operating income, mainly parking fees recovered from drivers, stood at Rs 5 crore. The company also earned Rs 69 crore from interest on investments, taking its total income to Rs 1,003 crore in FY25 from Rs 579 crore in FY24. On the cost front, delivery charges and incentives paid to captains remained the largest expense, accounting for 40% of the overall costs. This expense increased by 8.7% to Rs 500 crore in FY25. Employee benefit cost also rose 20% year-on-year to Rs 207 crore during the period. Rapido spent Rs 252 crore on advertising and promotion, while research and development expenses stood at Rs 108 crore in FY25. Rent, legal, professional, and other overheads pushed the company’s total expenses to Rs 1,261 crore in FY25, up from Rs 1,066 crore in FY24. The strong revenue growth helped Rapido reduce its net loss by 30.5% to Rs 258 crore in FY25, compared to Rs 371 crore in FY24. Its ROCE and EBITDA margins also improved to negative 13.58% and negative 19.59%, respectively. On a unit economics basis, Rapido spent Rs 1.35 to earn a rupee of operating revenue. According to startup data intelligence platform TheKredible, Rapido has raised over $550 million to date, including its $200 million unicorn round led by WestBridge. The company has also completed multiple secondary transactions over the past year. The revenue break up for Rapido is a good indicator of just where friction is highest in the business. While the goods delivery business offers high growth, potential and margins, the passenger side of the business remains a challenge, and getting more so every day with the Bharat taxi app launch now. We believe the Rapido business could look more and more like the successful business model by Porter unless the government allows these firms more leeway to operate without any fear of action at state or central level from ever-changing regulations and action on the passenger side. The firm’s two-wheeler rides in particular have opened up a new market, and it has forced changes in the rules governing the market like a leader should, strengthening its position as the firm to challenge now, from a challenger just two years back. So will it be a further shift towards last-mile goods transportation or a renewed push into the passenger side business? Your guess is as good as ours, as we track the company for future shifts.

Portea posts Rs 160 Cr revenue in FY25; narrows losses

EntrackrEntrackr · 6d ago
Portea posts Rs 160 Cr revenue in FY25; narrows losses
Medial

Portea, a Bengaluru-based home healthcare services provider, has halved its losses during the fiscal year ended March 2025. The improvement came on the back of steady revenue growth with controlled expenses in the period. Portea’s revenue from operations grew by 15% to Rs 160 crore in FY25 from Rs 139 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Portea offers a range of at-home healthcare services such as nursing, physiotherapy, medical equipment rentals, attendant care, lab tests, consultations, and specialised care. Revenue from these services remained the largest contributor, accounting for 59% of operating income, which rose by 16% year-on-year to Rs 95 crore in FY25. Meanwhile, revenue from product sales, including oxygen concentrators, BiPAP machines, and nebulisers, grew 14% to Rs 56 crore in FY25. Looking at the expenses, the employee benefit cost declined by 4.5% to Rs 52.5 crore in FY25. Its consultancy expenses rose 7% to Rs 44 crore. Meanwhile, the cost of materials increased 21% to Rs 52 crore, and expenses rose 25% to Rs 7.5 crore during the fiscal year. Other overheads, including legal and professional charges, and finance costs, added over Rs 30 crore to the total expense. Overall, Portea kept its total expenses flat at Rs 179 crore in FY25. With revenue rising and costs remaining stable, Portea managed to cut its loss by 49% to Rs 19 crore in FY25 from Rs 37 crore in FY24. Its ROCE and EBITDA margins stood at -40.54% and -6.88%, respectively. On a unit basis, Portea spent Rs 1.12 to earn a rupee during the fiscal year, improving from Rs 1.29 in FY24. The company reported cash and bank balances of Rs 1 crore, while its current assets stood at Rs 68 crore as of March 2025. According to TheKredible, Portea has raised nearly $123 million in funding to date, having Accel and Ventureast as its lead investors. It is worth noting that Portea received SEBI’s approval in 2023 to launch a Rs 1,000 crore initial public offering, but the company has since not taken any further steps to move ahead with the listing.

Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x

EntrackrEntrackr · 5m ago
Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x
Medial

Fintrackr All Stories Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x Co-working solutions provider Awfis has announced its financial results for the first quarter of FY26, registering decent growth in its revenue while more than tripling its profit in the first quarter of FY26. The company’s revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 18 crore which drove its total income to Rs 353 crore for the quarter. On a quarterly basis, the firm’s revenue fell 1.5% from Rs 340 crore in Q4 FY25. Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions. Revenue from co-working spaces remained the largest segment, growing 49% to Rs 276 crore in Q1 FY26 from Rs 185 crore in Q1 FY25. The construction and fit-out projects segment brought in Rs 58 crore, while other services contributed Rs 1 crore to the overall revenue in Q1 FY26. On the expense side, depreciation was the largest burn, standing at Rs 86 crore, whereas employee benefits expenses decreased to Rs 30 crore. Subcontracting expenses fell 15% YoY to Rs 47 crore. Finance costs amounted to Rs 46 crore, which pushed the firm’s total cost to Rs 343 crore in the previous quarter. Due to steady growth and controlled expenses, Awfis’ profit surged 3.5X to Rs 10 crore in Q1 FY26 from Rs 2.8 crore in Q1 FY25. Awfis has allotted 136,777 Employee Stock Options, currently valued at Rs 7.6 crore, as part of its 2024 Employee Stock Option Scheme. Awfis’ stock is trading at Rs 557 with a total market capitalization of Rs 3,971 crore (approximately $453 million).

Ixigo posts Rs 284 Cr revenue Q4 FY25; profit jumps 2.4X

EntrackrEntrackr · 8m ago
Ixigo posts Rs 284 Cr revenue Q4 FY25; profit jumps 2.4X
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).

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 8m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
Medial

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

Captain Fresh turns profitable in FY25; GMV jumps 2.5X

EntrackrEntrackr · 1m ago
Captain Fresh turns profitable in FY25; GMV jumps 2.5X
Medial

Captain Fresh, a seafood and animal protein supply chain startup, has posted a profit within five years of operations and has become one of the fastest-growing startups in its space. The Bengaluru-based firm has also posted over 2X scale in FY25, backed by strong growth in international markets, particularly the United States. The company’s gross revenue (GMV) surged 2.5X to Rs 3,421 crore in FY25 from Rs 1,395 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Captain Fresh operates as a tech-driven, vertically integrated platform that controls the entire seafood value chain from procurement to distribution without owning capital-intensive assets. Captain Fresh generates a major share of its revenue from export markets. The USA contributed over 71% to the operating revenue, growing more than 5.6X to Rs 2,416 crore in FY25 from Rs 362 crore in FY24. India’s contribution, however, declined by 49% to Rs 340 crore, while new markets like Poland (Rs 239 crore) and France (Rs 181 crore) also made significant contributions. Other key geographies included Italy (Rs 50 crore), the UAE (Rs 48 crore), and Spain (Rs 31 crore). The surge in gross revenue stems largely from its acquisition spree. Captain Fresh picked up CenSea in February 2024 and added Ocean Garden to its portfolio this February. Overall, the company has a total of 10 subsidiaries and a joint venture across the United States, Norway, France, Spain, Indonesia, Poland, and the Netherlands. The company’s largest expense, cost of materials, accounted for over 82% of total expenditure, which increased 2X to Rs 2,846 crore in FY25 from Rs 1,311 crore in FY24. Employee benefit expenses more than doubled to Rs 195 crore, while freight and forwarding charges shot up 2.7X to Rs 102 crore. Finance costs grew sharply to Rs 94 crore in FY25. Legal and professional fees remained largely flat at Rs 44 crore, and other expenses stood at Rs 173 crore. Overall, in the line of scale, Captain Fresh’s total costs doubled to Rs 3,454 crore in FY25 from Rs 1,648 crore a year earlier. With over 2X revenue surge, the company turned profitable and posted a net profit of Rs 42 crore against a loss of Rs 229 crore in FY24 (It's worth noting that Rs 68 crore were credited in terms of deferred tax, which helped the company to be in green). The company’s ROCE and EBITDA margin stood at 4.05% and 2.12% respectively. On a unit level, Captain Fresh spent Re 1.01 to earn a rupee of operating revenue, improving from Rs 1.18 in FY24. The firm’s current assets were valued at Rs 1,858 crore, while capital employed rose to Rs 1,358 crore. The company maintained cash and bank balances of Rs 88 crore at the end of FY25. According to the startup data intelligence platform TheKredible, Captain Fresh has raised over $200 million to date, including a $30 million pre-IPO round in January this year from Prosus, Accel, Tiger Global, and others. Matrix Partners, Accel, Tiger Global, Ankur Capital, and Prosus are some notable investors for Captain Fresh. Captain Fresh is set to raise Rs 1,700 crore (about $200 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO). The Tiger Global-backed company is reportedly eyeing a total issue size of $350-400 million, including an offer for sale (OFS).

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