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Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high

EntrackrEntrackr · 7m ago
Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high
Medial

Smartworks cuts losses by 82% in Q1 FY26; share hits all-time high Smartworks' revenue from operations rose 21% year-on-year to Rs 379 crore in the quarter ending June 2025 from Rs 313 crore in Q1 FY25. Managed office space provider Smartworks has posted its first set of quarterly results since going public, recording a sharp 82% cut in losses during Q1 FY26 alongside double-digit revenue growth. The company's revenue from operations rose 21% year-on-year to Rs 379 crore in the quarter ending June 2025 from Rs 313 crore in Q1 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). On a sequential basis, revenue was up nearly 6% from Rs 358 crore in Q4 FY25. However, during the full fiscal year ended March 2025, its revenue was recorded at Rs 1,374 crore with a loss of Rs 62 crore. Smartworks makes money from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 8.9 crore from non-operating activities, pushing total income to Rs 388 crore in the quarter, compared to Rs 323 crore in Q1FY25. On the cost front, depreciation remained the largest expense at Rs 174 crore, followed by operating expenses of Rs 103 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 393 crore, compared to Rs 354 crore in the same quarter last year. The decent growth in scale and cost control mechanisms helped the firm narrow its net loss to Rs 4.1 crore in Q1 FY26 from Rs 23 crore a year ago. Smartworks listed on the NSE earlier this year at Rs 435 per share, a 7% premium to its IPO price of Rs 407. The stock closed today at Rs 467, valuing the company at Rs 5,332 crore ($627 million). Smartworks competes with Awfis, which went public in May 2024 and currently trades at Rs 579. Awfis posted Rs 355 crore in revenue and Rs 10 crore in net profit in Q1FY26. Another peer, WeWork India, has also received SEBI's nod for its upcoming IPO.

SBI Mutual Fund sells Nazara’s stake worth Rs 108 Cr via bulk deal

EntrackrEntrackr · 2m ago
SBI Mutual Fund sells Nazara’s stake worth Rs 108 Cr via bulk deal
Medial

SBI Mutual Fund sells Nazara’s stake worth Rs 108 Cr via bulk deal SBI Mutual Fund offloaded 45,09,360 equity shares of Nazara at an average price of Rs 240.18 per share, taking the total transaction value to around Rs 108 crore. Prior to the deal, SBI MF held 2.14 crore shares, accounting for 5.78% stake in Nazara. Post the deal, its shareholding has come down to 1.69 crore shares, translating to 4.55% of the total paid-up equity. Financially, Nazara’s operating revenue rose by 65% to Rs 526 crore in Q2 FY26 from Rs 319 crore in Q2 FY25. With the enactment of the Promotion and Regulation of Online Gaming Act, Nazara recognized an aggregate reduction of Rs 914.70 crore in its investment done on Moonshine Technologies. The company recorded a loss of Rs 34 crore in Q2 FY26 as compared to a profit of Rs 18 crore in Q2 FY25. On a half-yearly basis, the company’s profit declined 57.5% to Rs 17 crore in H1 FY26 from Rs 40 crore in H1 FY25. In August this year, Nazara called off its plan to acquire a minority stake in Moonshine Technology Private Limited, the parent company of online poker platform PokerBaazi, due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025. At the end of the day, Nazara’s share was trading at Rs 252 with a total market capitalization of Rs 9,355 crore (approximately $1 billion).

PokerBaazi write-off pushes Nazara into losses in Q2 FY26

EntrackrEntrackr · 4m ago
PokerBaazi write-off pushes Nazara into losses in Q2 FY26
Medial

Gaming and sports media firm Nazara Technologies reported a 65% year-on-year rise in operating revenue for Q2 FY26. Moreover, the Mumbai-based company lost profitability due to a write-off of investment in PokerBaazi which was closed due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025. Nazara's operating revenue rose by 65% to Rs 526 crore in Q2 FY26 from Rs 319 crore in Q2 FY25, according to its unaudited financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 17% (Rs 87 crore) of the company's total operating revenue, while the gaming segment held a 56% share (Rs 296 crore), followed by ad tech, which contributed 27% (Rs 143 crore). Interestingly, Nazara booked Rs 1,105 crore under non-operating income, bringing its overall revenue to Rs 1,631 crore in Q2 FY26 from Rs 344 crore in Q2 FY25. On a half-yearly basis, the company’s revenue increased by 80% to Rs 1,025 in H1 FY26 from Rs 569 crore in H1 FY25. Nazara’s total expenses surged by 66% to Rs 534 crore in Q2 FY26, compared to Rs 321 crore in the same quarter last year. Content cost stood at Rs 160 crore, while employee benefit expenses rose to Rs 78 crore. Notably, marketing expenses saw a sharp nearly 3X jump, reaching Rs 116 crore in Q2 FY26. With the enactment of the Promotion and Regulation of Online Gaming Act, Nazara recognized an aggregate reduction of Rs 914.70 crore in its investment in Moonshine Technologies. Due to this, the company recorded a loss of Rs 34 crore in Q2 FY26 as compared to a profit of Rs 18 crore in Q2 FY25. On a half-yearly basis, the company’s profit declined 57.5% to Rs 17 crore in H1 FY26 from Rs 40 crore in H1 FY25. In August this year, Nazara called off its plan to acquire a minority stake in Moonshine Technology Private Limited, the parent company of online poker platform PokerBaazi, due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025. At the end of the day, Nazara’s share was trading at Rs 257 with a total market capitalization of Rs 9,539 crore (approximately $1 billion).

Mamaearth hits all-time high profit during Q1 FY25

EntrackrEntrackr · 1y ago
Mamaearth hits all-time high profit during Q1 FY25
Medial

Honasa Consumer Limited, the parent firm of D2C brand MamaEarth, on Friday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The company reported a 17.6% increase in revenue QoQ while its profit spiked 33.3% during the quarter ended June 2024. MamaEarth’s revenue from operations increased to Rs 554 crore in Q1 FY25 from Rs 471 crore in Q4 FY24, according to its unaudited consolidated quarterly report filed with the National Stock Exchange. The sale of personal and beauty care products was the sole source of revenue for Honasa Consumer. The firm also made Rs 19 crore from financial sources, tallying its overall income to Rs 573 crore in Q1 FY25. Notably, the firm posted Rs 1,920 crore of revenue, marking a 28.7% year-on-year growth during the fiscal year ending March 2024 with a net profit of Rs 147 crore. For the D2C brand, the cost of procurement of materials accounted for 30% of the total expenditure which saw an 11.3% increase to Rs 157 crore in Q1 FY25. Its employee benefits, advertising, freight, legal, and other overheads took the overall cost to Rs 520 crore in Q1 FY25. At the end, profits of the Peak XV-backed firm grew 33.3% to Rs 40 crore in Q1 FY25 from Rs 30 crore in Q4 FY24. This is the highest profitable quarter for MamaEarth since its public debut. Importantly, the firm registered a massive 71% gross margin in the same period. Honasa Consumer was trading at Rs 473 (as of August 9) with a total market capitalization of Rs 15,336 crore (around $1.84 billion).

GIVA’s revenue jumps 89% to Rs 518 Cr in FY25

EntrackrEntrackr · 1m ago
GIVA’s revenue jumps 89% to Rs 518 Cr in FY25
Medial

GIVA’s revenue jumps 89% to Rs 518 Cr in FY25 Jewelry startup GIVA continued its impressive growth in FY25 as the company reported an 89% year-on-year increase in revenue after recording 66% growth in FY24. However, in its push to chase scale, the company’s losses widened by 22% during the same period. GIVA’s revenue from operations grew 89% to Rs 518 crore in FY25 from Rs 274 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). GIVA makes money from the sale of jewellery products through its digital and physical retail network. The firm initially focused on silver jewellery and now has expanded into gold and lab-grown diamond categories. The company reported a nearly even split between online and offline channels, with each contributing roughly 50% to overall revenue. During the year, GIVA crossed the 200-store milestone and is approaching 300 outlets. The company also entered an international market with the launch of its first store in Sri Lanka which reported revenue of Rs 10.7 crore in FY25. The company’s total income stood at Rs 523 crore for the period. The cost of materials, the largest expense component for GIVA, rose 97% to Rs 227 crore and accounted for 38% of the overall expenses. The higher procurement activity also pushed up inventory levels as the firm’s inventory rose 108% to Rs 100 crore in FY25. Its employee benefit expenses jumped 82% to Rs 91 crore in FY25 from Rs 50 crore in FY24. Marketing expenditure increased 55% to Rs 135 crore, while rental expenses surged 135% to Rs 47 crore amid offline expansion push. Overall, GIVA’s total expenses increased 76% to Rs 596 crore in the last fiscal year from Rs 338 crore in FY24. In order to achieve scale, the Ishendra Agarwal-led company’s loss increased by 22% to Rs 72 crore in FY25 from Rs 59 crore in FY24. Its ROCE and EBITDA margin improved to -21.52% and -10.81% respectively. On a unit basis, the company spent Rs 1.15 to earn a rupee in the fiscal year ending March 2025, an improvement from Rs 1.23 in FY24. The Bengaluru-based company recorded current assets worth Rs 291 crore, including cash and bank balances of Rs 37 crore at the end of FY25, compared to Rs 83 crore in the previous year. GIVA has raised around $122 million to date, with IQ Capital as its lead investor, including a $61.5 million Series C round led by growth-stage investor Creaegis. It’s preparing for a listing, with the founder indicating that the IPO is likely to be targeted once the business reaches an annual revenue run rate of Rs 1,800–2,000 crore, which is expected over the next two to three years.

Debt, groceries and fuel top UPI spends in August; gaming drops 26%

EntrackrEntrackr · 6m ago
Debt, groceries and fuel top UPI spends in August; gaming drops 26%
Medial

Debt, groceries and fuel top UPI spends in August; gaming drops 26% According to NPCI data, debt collection agencies topped the chart with transactions worth Rs 77,007 crore, followed by securities brokers and dealers at Rs 45,687 crore during the last month (August).Unified Payments Interface (UPI) transactions in August 2025 were led by debt collections, groceries, fuel, and utility payments, with several merchant categories crossing Rs 5,000 crore in transaction value. According to NPCI data, debt collection agencies topped the chart with transactions worth Rs 77,007 crore, followed by securities brokers and dealers at Rs 45,687 crore during the last month (August). Among consumer-facing spends, groceries and supermarkets recorded Rs 68,116 crore across 3.1 billion transactions, while service stations (fuel pumps) registered Rs 34,547 crore. Dining also continued to see strong traction with eating places and restaurants at Rs 19,432 crore and fast food restaurants including QSR chains at Rs 14,542 crore. Essential services maintained a steady flow of digital payments. Telecommunication services accounted for Rs 21,218 crore, and utilities such as electricity, gas, water and sanitary stood at Rs 22,368 crore. On the discretionary side, drug stores and pharmacies saw spends worth Rs 12,581 crore, while men’s and women’s clothing shops and electronics shops reported Rs 11,811 crore and Rs 10,209 crore, respectively. Government services also crossed the Rs 10,000 crore mark. Digital spending on games declined sharply in August. The category logged 271 million transactions worth Rs 7,441 crore, down from 351 million transactions worth Rs 10,076 crore in July. The fall is linked to the ban on real money gaming apps enforced in the second half of the month. Other categories above the Rs 5,000 crore threshold included online marketplaces (Rs 7,822 crore) and liquor stores (Rs 6,116 crore).

Seekho spends Rs 134 Cr on advertising for Rs 142 Cr revenue in FY25

EntrackrEntrackr · 7d ago
Seekho spends Rs 134 Cr on advertising for Rs 142 Cr revenue in FY25
Medial

Seekho spends Rs 134 Cr on advertising for Rs 142 Cr revenue in FY25 Short learning video platform Seekho raised $28 million in September 2025 at a $180 million valuation after reporting over 12X revenue growth in FY25. However, heavy marketing spends of over Rs 134 crore pushed its losses up more than 8X to Rs 39 crore. Bengaluru-based Seekho’s revenue from operations jumped 12.3X year-on-year to Rs 141.5 crore in FY25 from just Rs 11.5 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Seekho is a short learning video platform offering educational content in English, Hindi and other regional languages on topics such as business skills, technology, government exams, personal growth, and app tutorials. It caters to students, professionals, and general learners. Subscription income was the primary source of revenue for the firm in FY25, while a small portion came from non-operating sources, mainly from interest on bank deposits, which tallied its overall income to Rs 143.5 crore in FY25. On the expense side, marketing expenses were the largest for the firm and accounted for 75% of total expenses at Rs 134.2 crore. This cost increased more than 11.5X from Rs 11.6 crore in FY24. Employee benefits expenses also rose to Rs 23.4 crore in the last fiscal year; notably, this included Stock Appreciation Rights (SARs) worth Rs 14.3 crore, which are non-cash in nature. Content creation expenses also rose over 10 times to Rs 10.4 crore as the company expanded. Other overheads such as IT and software expenses, payment gateway charges, and legal and professional fees also added to overall expenditure, which rose over 9X to Rs 179.2 crore in FY25 from Rs 19.4 crore in FY24. Despite strong revenue growth, the company reported a loss of Rs 38.8 crore in the previous fiscal year, largely pushed by aggressive marketing push to scale the platform. The company’s ROCE and EBITDA margin stood at -63.62% and -26.55% respectively. On a unit level, the Seekho-backed by Elevation Capital spent Rs 1.27 to earn a single rupee of operating revenue. As of March 2025, the company’s cash and bank balance stood at Rs 40.2 crore, while its current assets totaled Rs 93.3 crore. Seekho has raised around $40 million to date from investors including Lightspeed Venture Partners, Elevation Capital, and Bessemer Venture Partners. Following the allotment of its latest $28 million round, Elevation Capital holds the largest 22.73% stake, followed by Lightspeed Venture Partners with 13.26%. New investors Bessemer Venture Partners and Goodwater Capital hold 6.42% and 4.52%, respectively. The company’s promoters Rohit Choudhary, Keertay Agarwal, and Yash Banwani each retain a 10.39% stake in the company.

Eggoz hits Rs 130 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 2m ago
Eggoz hits Rs 130 Cr revenue in FY25; cuts losses
Medial

Eggoz’s revenue from operations rose 78% year-on-year to Rs 130 crore in FY25 from Rs 73 crore in FY24, according to its standalone financial statements sourced from the Registrar of Companies (RoC). Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led supply chain model that enables fresh eggs to reach retailers within 24 hours. Over the years, the company has expanded its presence across key markets, including Delhi-NCR, Bengaluru, Kolkata, Jaipur, and Lucknow. The sale of eggs remained the sole contributor to Eggoz’s operating revenue in FY25. That said, the company has recently expanded beyond shell eggs by foraying into the ready-to-cook segment with offerings such as momos, burger patties, and nuggets. On the expense side, procurement of eggs continued to be the largest cost centre, accounting for nearly 67% of total expenditure. Procurement costs increased to Rs 103 crore in FY25, largely in line with the company’s revenue growth. Employee benefit expenses rose to Rs 20 crore during the year, including Rs 3 crore towards ESOP-related costs. Freight, advertising, rent, and other overheads pushed Eggoz’s total expenditure to Rs 154 crore in FY25, up from Rs 100 crore in the previous fiscal. Despite higher operating expenses, improved scale helped Eggoz reduce its net losses by 8% to Rs 23 crore in FY25 from Rs 25 crore in FY24. The company also reported improvements in EBITDA, return on capital employed (ROCE), and its expense-to-revenue multiple during the year. According to the company, Eggoz reached a peak brand annual revenue run rate (ARR) of Rs 200 crore and achieved EBITDA breakeven in Q4 FY25, driven by strong consumer demand and expanded distribution. Eggoz has raised over $32 million in funding to date. This includes a $20 million round led by Gaja Capital. Prior to this, the company raised $8.8 million in a Series B round led by IvyCap Ventures, $3.5 million in Series A funding, and Rs 3.7 crore during its seed stage.

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