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Reliance posts record Rs 21,930 Cr profit as Jio, retail fuel growth
YourStory
·
6m ago
Medial
Reliance Industries Ltd reported a record net profit of Rs 21,930 crore for Q3 of fiscal 2024-25, boosted by performances in retail and telecom. Consolidated revenue rose 7.7% to Rs 2,67,186 crore. Reliance Jio's profit increased by 25.9%, with revenue up by 19.2%. Reliance Retail's profit grew by 10.1%, with revenue up by 8.8%, driven by new stores and festive demand. The O2C segment's revenue modestly increased by 6% amid weaker refining margins.
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Ambani's Reliance reports 30% YoY increase in net profit to Rs 19,878 crore in Q2FY24
IndianStartupNews
·
1y ago
Medial
Reliance Industries, led by Mukesh Ambani, reported a 1.2% year-on-year increase in gross revenue for the second quarter of fiscal year 2024. The growth was driven by the company's consumer businesses, with Jio Platforms Limited seeing a 10.6% revenue increase and Reliance Retail Ventures Limited experiencing an 18.8% growth. The EBITDA surged by 30.2%, and the profit after tax showcased a robust growth of 29.7%. Reliance continues to invest in the pan-India 5G rollout.
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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
Entrackr
·
4m ago
Medial
Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.
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Adani Group, Reliance in pact for fuel distribution
Economic Times
·
1m ago
Medial
Reliance Industries and Adani Group announced a collaboration for fuel distribution. The agreement includes Adani Group's select outlets offering Reliance's Jio-bp petrol and diesel, while Jio-bp stations will host Adani Total's CNG units. This partnership aims to enhance infrastructure and customer experience by leveraging each other's facilities. It follows Reliance's earlier strategic investment in Adani Power. With extensive networks, both companies will offer high-quality fuels across existing and future retail locations.
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Jio Financial Services, BlackRock infuse Rs 117 Cr in mutual fund business
YourStory
·
6m ago
Medial
Jio Financial Services Ltd and BlackRock have invested Rs 117 crore in their joint venture, Jio BlackRock Asset Management, with each subscribing to 5.85 crore equity shares. Additionally, Jio BlackRock Investment Advisers established a subsidiary for broking. JFSL's third-quarter profit remained steady at Rs 295 crore, with increased total income of Rs 449 crore and expenses rising to Rs 131 crore. SEBI approval for Jio BlackRock Asset Management is pending.
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Infra.Market posts Rs 11,846 Cr gross revenue in FY23; remains profitable
Entrackr
·
1y ago
Medial
Construction goods and services platform Infra.Market maintained its growth trajectory with over 9X surge in gross scale during the last two fiscal years, rising from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23. Despite the hyper-growth, the Mumbai-based company has remained profitable for the past several fiscal years. While the firm’s profit dipped nearly 17% in FY23, Infra.Market’s gross revenue surged 90% to Rs 11,846 crore in the said fiscal year from Rs 6,236 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show. Infra.Market sells construction materials, infrastructure goods, and technical equipment which accounted for over 96% of its total operating revenue. Collections from these verticals grew nearly 89% to Rs 11,383 crore in FY23 from Rs 6,002 crore in FY22. The company has over 4,000 retail stores with more than 25 exclusive brand outlets across 22 states which is backed by over 100 dedicated manufacturing units. The cost of procurement of materials formed 86% of the overall expenditure. This cost surged 82.1% to Rs 9,974 crore in FY23. As the company hired aggressively to keep up with the growth, its employee benefits grew around 2X to Rs 279 crore in FY23. Infra.Market freight, legal-professional, power-fuel, information technology, and other overheads pushed its total expenditure up by 91.6% to Rs 11,607 crore in FY23 from Rs 6,058 crore in FY22. Check TheKredible for the detailed expense breakup. The notable growth and controlled cost helped Infra.Market to maintain profits which stood at Rs 155 crore during the previous fiscal year. Its ROCE and EBITDA margin stood at 15% and 5.7%, respectively. On a unit level, it spent Rs 0.98 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 6% 5.7% Expense/₹ of Op Revenue ₹0.97 ₹0.98 ROCE 10% 15% Infra.Market has raised over $500 million across rounds in a mix of equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global is the largest external stakeholder with 21.33% stake followed by Accel and Nexus Ventures which command 16.87% and 8.46% shares, respectively. Head to TheKredible to see the complete shareholding. In the B2B e-commerce (industrial supply) business, Infra.Market competes with the likes of Zetwerk, OfBusiness and Moglix. Zetwerk’s gross revenue from operations grew 130% to Rs 11,448.6 crore in FY23 with a loss of Rs 108 crore. OfBusiness emerged as the largest player in this space with Rs 15,342 crore revenue and Rs 463 crore profit while Moglix reported Rs 4,595 crore in revenue and Rs 193 crore loss in the last fiscal year. With all key players achieving significant balance sheet size on the back of positive PAT or small losses, the segment is set to consolidate, with the possibility of smaller players being absorbed by the top 3 or 4. The category as a whole has enough space to grow, considering the small size of the organised sector and the many emerging opportunities from India’s push to be a manufacturing hub. Players will be willing to bide their time before they seek margin improvement, as they strengthen their positions in their key segments. Be it Zetwerk in say, renewable energy, or construction industry for another etc. Comfortably placed among the top 3, Infra.Market can be expected to continue to deliver healthy topline growth on the back of a fast growing economy in India. Faster bottomline growth or better margins will require a lower share for procurement of materials, something that we believe will not happen quickly.
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FIITJEE posts Rs 542 Cr revenue in FY23, slips into losses
Entrackr
·
1y ago
Medial
Delhi-based offline IIT-JEE test preparation platform, FIITJEE, witnessed a 21% growth in scale during the fiscal year ending March 2023. However, the growth came at a cost as the company reported a loss of Rs 69 crore as compared to a profit of Rs 37 lakh in FY22. FIITJEE's revenue from operations increased to Rs 542 crore in FY23 from Rs 448 crore in FY22. The company's expenses, especially in advertising and employee benefits, contributed to the overall loss. The test preparation market is experiencing significant competition and potential disruptions.
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Infibeam posts Rs 742 Cr gross revenue, Rs 27.7 Cr profit in Q1 FY24
Entrackr
·
1y ago
Medial
During Q1 FY24, Infibeam Avenues reported a gross revenue of Rs 742 crore and a profit of Rs 27.7 crore. The company's robust performance was attributed to its digital payment solutions, e-commerce platforms, and technology services. Infibeam's revenue growth reflects its successful efforts in capitalizing on the increasing digital adoption and e-commerce trends in India. However, the net profit of fintech company Infibeam declined by 31.4%to Rs 35 crore in Q1 FY24 from Rs 51 crore in Q4 FY23.
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SoftBank posts profit for second straight quarter but remains in red for full year
VCCircle
·
1y ago
Medial
Japanese technology investor SoftBank Group reported a net profit of 328.9 billion yen ($2.11 billion) for the fourth quarter of its financial year, compared to a loss of 32 billion yen the previous year. However, SoftBank remained in the red for the full year, despite two consecutive quarters of profit. The focus is now on SoftBank subsidiary Arm Holdings, a British chip designer, which is seen as crucial to fuel SoftBank's push into artificial intelligence. Arm reported record sales in the first quarter, but its surging valuation did not contribute to SoftBank's profit.
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Reliance Q4 results: Net profit declines 1.8% YoY to ₹18,951 crore
Livemint
·
1y ago
Medial
Reliance Industries Ltd (RIL), led by Mukesh Ambani, reported a 2% decline in net profit for the March quarter due to lower margins in its petrochemicals business and higher tax outflows. However, the company's retail and telecom businesses showed steady growth. RIL's consolidated revenue for the year exceeded ₹10 trillion, making it the first Indian company to achieve this milestone. Despite global headwinds, the company's O2C segment (oil refining and petrochemicals) performed well, while its KG-D6 block and retail division also contributed to earnings growth. RIL's digital services segment, including Jio Platforms, reported a 9% YoY increase in EBITDA.
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Zupee posts Rs 146 Cr profit after tax in FY24
Entrackr
·
3m ago
Medial
Zupee posts Rs 146 Cr profit after tax in FY24 Real money gaming firm Zupee recorded over Rs 1,100 crore revenue in the fiscal year ending March 2024. Moreover, it also turned profitable during the same period, posting a net profit of Rs 146 crore. Zupee’s revenue from operations grew by 35% year-on-year to Rs 1.123 crore in FY24 from Rs 832 crore in FY23, the company said in its press release. According to the company, FY24 was a period of strong, broad-based growth for Zupee with a 60% increase in its registered user base. The company stated that it consolidated its leadership in traditional North Indian markets while expanding its footprint across the country. Founded by Dilsher Singh Malhi and Siddhant Saurabh, Zupee offers real-money games such as Ludo, Snakes & Ladders, Trump Cards, and Tombola. By the end of FY24, the platform claimed over 100 million registered users. Dilsher Singh Malhi, Founder & CEO of Zupee, said, “FY24 was a landmark year as the company turned profitable, scaled rapidly, and created a new category in India’s gaming space." He credited the growth to culturally rooted games and a strong focus on innovation, compliance, and responsible gaming. Zupee has raised $121 million to date, including its $102 million Series B round led by Nepean Capital in 2022. According to the startup data intelligence platform TheKredible, Nepean Capital is the largest external stakeholder with 19.61%, followed by Westcap and Seminal Digital. Zupee competes with players like Gameskraft, which reported Rs 3,500 crore in revenue and Rs 947 crore in profit, as well as Winzo, Playsimple Games, and others.
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