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12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25

EntrackrEntrackr · 10h ago
12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25
Medial

12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25 Wealth management platform Scripbox achieved profitability in FY25, on the back of steady revenue growth and disciplined cost control, particularly a sharp reduction in ESOP-related expenses during the period. Scripbox’s revenue from operations rose 27% to Rs 107.24 crore in the financial year ending March 2025, up from Rs 84.33 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies. Founded in 2012, Scripbox operates a diversified revenue model, earning brokerage and commissions from mutual funds, fixed deposits, PMS, AIFs, and sovereign gold bonds. It also generates income from advisory services and lead-generation fees. The company derived 82% of its operating revenue from brokerage and commissions on mutual fund distribution, which stood at Rs 88 crore, while brokerage from PMS contributed Rs 8.66 crore in FY25. It also earned Rs 7.6 crore from investment advisory fees and Rs 1.14 crore from portfolio management service fees. The remaining revenue came from brokerage on fixed deposits, sovereign gold bonds, AIFs, and other products. The company also earned Rs 2.06 crore from interest and gains on financial assets, taking its total revenue to Rs 109.3 crore in FY25. On the cost side, Scripbox’s employee benefits expense had fallen by 32% to Rs 49.55 crore in FY25, compared to Rs 73.07 crore in FY24. The reduction was mainly due to a steep drop in ESOP-related expenses, which fell to Rs 3.48 crore from Rs 25.72 crore in FY24. The company's overall expenditure dwindled by 29% to Rs 95.82 crore in the last fiscal (FY25) from Rs 134 crore in FY24. On the bottom line, Scripbox posted a profit of Rs 12.77 crore in FY25, supported by a sharp reduction in non-cash ESOP expenses. In FY24, the company had reported exceptional gains of Rs 48.8 crore from the surrender or cancellation of ESOPs, which made it appear profitable; excluding this non-cash item, Scripbox would have recorded a loss of Rs 44.7 crore in FY24. The company’s EBITDA margin and ROCE improved, turning positive at 20.47% and 14.5%, respectively. At a unit level, Scripbox spent Rs 0.89 to generate one rupee of operating revenue in FY25. The firm held only Rs 58 lakh in cash and bank balances at the end of FY25, while its current assets stood at Rs 31 crore during the same period. According to startup data intelligence platform TheKredible, Scripbox has raised over $55 million to date and holds a valuation of around Rs 1,150 crore (approximately $137 million). Its investors include Accel, LetsVenture, DMI, and others. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Sachin Bansal's Navi Finserv quadruples standalone PAT in FY24 after subsidiary sale

YourStoryYourStory · 1y ago
Sachin Bansal's Navi Finserv quadruples standalone PAT in FY24 after subsidiary sale
Medial

- Navi Finserv Limited (NFL) reports strong standalone revenue growth of 48.57% in fiscal year 2024 (FY24), reaching Rs 1,906 crore. - On a consolidated basis, NFL's revenue declined by 6.5%, mainly due to divesting its stake in Chaitanya India Fin Credit (CIFCPL) in FY23. - NFL's standalone net profit nearly quadrupled to Rs 668.82 crore in FY24, while the consolidated net profit more than doubled to Rs 545.07 crore. - Total expenses increased by 48.4% on a standalone basis, driven by a significant rise in employee benefit costs. - NFL disbursed Rs 3,097.82 crore under co-lending agreements in FY24 and closed a $38 million personal loans securitisation deal with JP Morgan.

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

EntrackrEntrackr · 2m ago
Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%
Medial

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37% Flipkart Internet, the B2B arm of Walmart-owned Flipkart, reported a 14% year-on-year rise in revenue, crossing the Rs 20,000 crore mark in the fiscal year ending March 2025. The Bengaluru-based firm also reduced its losses by 37%, bringing them below Rs 1,500 crore during the same period. Flipkart Internet’s revenue from operations increased to Rs 20,493 crore in FY25, from Rs 17,907 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Flipkart’s revenue is driven by marketplace, logistics, and advertising services. Income from marketplace services more than doubled to Rs 7,751 crore in FY25 from Rs 3,734 crore in FY24, contributing 38% to operating revenue. Advertising income surged 27% to Rs 6,317 crore, making up 31% of the topline. However, revenue from logistics services declined by 38% to Rs 4,224 crore, reducing its share to 21%. The firm made an additional Rs 314 crore from non-operating sources, which pushed its total revenue to Rs 20,807 crore in the last fiscal year (FY25). On the cost side, the largest cost head remained logistics service charges, which increased 9% to Rs 7,144 crore, accounting for 32% of total expenses. Employee benefit expenses declined 8% to Rs 4,748 crore, while marketing costs rose sharply by 37% to Rs 4,100 crore, making up 18% of overall costs. Collection charges stood at Rs 2,693 crore (12.1% of expenses) and legal/professional fees at Rs 1,394 crore. Overall, Flipkart Internet’s total expenses grew 8% to Rs 22,311 crore in FY25 from Rs 20,627 crore in FY24. Flipkart Internet managed to cut its losses by 37% to Rs 1,494 crore in FY25, from Rs 2,359 crore in FY24. Its EBITDA losses narrowed to Rs 1,078 crore in FY25 from Rs 1,869 crore in FY24, with the EBITDA margin improving from -10.25% to -5.18%. On a unit level, Flipkart spent Rs 1.09 to earn a rupee in FY25, better than Rs 1.15 in FY24. The company’s current assets stood at Rs 11,952 crore, while cash and bank balances rose to Rs 187 crore.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 1m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples

EntrackrEntrackr · 6m ago
PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples
Medial

PB Fintech, the parent company of online insurance aggregator and brokerage platform PolicyBazaar, has released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25). The company reported a 38% growth in scale, while its year-on-year (YoY) profits increased by 2.85X during the same period. PolicyBazaar’s revenue from operations surged 38% to Rs 1,508 crore in Q4 FY25 in contrast to Rs 1,089 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), PolicyBazaar’s operating revenue increased 33% to Rs 4,977 crore in FY25 from Rs 3,738 crore in FY24. The Gurugram-based company generated the largest share (87%) of its operating revenue from insurance broker services, which rose to Rs 1,322 crore in Q4 FY25 from Rs 915 crore in Q4 FY24. For the full fiscal year, it accounted for 86% of the revenue at Rs 4,298 crore. Besides operating revenue, the firm also earned Rs 101 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 1,609 crore in the quarter ending March 2025. Meanwhile, for the full fiscal year, total income crossed the Rs 5,000 crore mark at Rs 5,385 crore. PolicyBazaar has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 15% YoY to Rs 508 crore. Overall, the company's total costs grew 29% to Rs 1,437 crore in Q4 FY25 compared to Rs 1,114 crore in Q4 FY24. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 5,039 crore as against Rs 3,739 crore in FY24. In the end, PolicyBazaar's net profits surged 2.85X to Rs 171 crore in Q4 FY25 from Rs 60 crore in Q4 FY24. On a fiscal basis, its net profit spiked 5.5X to Rs 353 crore in FY25 from Rs 64 crore in FY24. PolicyBazaar is currently trading at Rs 1,796 with a total market capitalization of Rs 82,500 crore.

CoinSwitch’s parent PeepalCo revenue declines to Rs 38 Cr in FY24, losses shrink 65%

EntrackrEntrackr · 1y ago
CoinSwitch’s parent PeepalCo revenue declines to Rs 38 Cr in FY24, losses shrink 65%
Medial

CoinSwitch’s parent entity PeepalCo, one of the leading cryptocurrency exchanges in India, has continued to struggle with a declining scale for consecutive fiscal years (FY23 and FY24). After an 84% dip in FY23, its operating revenue shrank by 46% in the fiscal year ending March 2024. CoinSwitch’s parent revenue from operations dropped to Rs 38 crore ($4.56 million) during FY24 as compared to Rs 70.2 crore ($8.41 million) booked in the previous fiscal year, the company’s consolidated financial statements filed by the parent entity (PeepalCo) in Singapore show. PeepalCo owns and operates two businesses: cryptocurrency trading through CoinSwitch and equities trading via Lemonn. CoinSwitch operates as a virtual digital assets (VDA) exchange aggregator, connecting buyers and sellers of digital assets. The company’s revenue comes primarily from service fees for facilitating transactions between users and third-party VDA exchanges. It also operates an electronic exchange platform, linking market makers and other large-volume traders in the VDA space. Importantly, PeepalCo generated a large chunk of revenue from investment sales, interest income, reversal of provisions on digital assets, reconciliation gains on digital assets, and others. This non-operating income stood at Rs 149.13 crore or $17.86 million in FY24. Coming to the expenditure, CoinSwitch’s parent spent the most on employee benefits which shrank 17% to Rs 208.42 crore in FY24. Computer & IT expenses also saw a dip of 19% to Rs 36.91 crore while depreciation and amortization costs went up 6.7% to Rs 18.54 crore. Overall, the company’s total expenditure declined 36.7% to Rs 318.6 crore ($38.15 million) during FY24. Followed by the cost-cutting measures, CoinSwitch managed to cut down its losses by 65% to Rs 151.4 crore ($18.13 million) in FY24 against Rs 434.2 crore in the previous year. The operating cash outflows also improved to the tune of 36.8% to Rs 95 crore. As per TheKredible, the EBITDA margin and ROCE registered at -59.10% and -7.95%, respectively. On a unit level, CoinSwitch spent Rs 8.37 to earn a rupee of operating revenue in FY24.

PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat

EntrackrEntrackr · 2m ago
PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat
Medial

PharmEasy reports Rs 5,872 Cr revenue in FY25; burn remains flat API Holdings, the parent of e-pharmacy and diagnostics brand PharmEasy, reported flat revenue in the fiscal year ending March 2025. However, the Mumbai-based company has cut losses by 38% due to a sharp reduction in finance and depreciation costs during the last fiscal year. PharmEasy’s operating revenue increased 3.7% to Rs 5,872 crore in FY25 from Rs 5,664 crore in FY24, according to the company’s financial statements reviewed by Entrackr. PharmEasy offers pharmaceutical products, along with diagnostic services and teleconsultations, through its mobile and web apps. PharmEasy derived about 87% of its operating revenue, or Rs 5,097.5 crore, from the sale of pharmaceutical and cosmetic products, while the remainder came from services such as diagnostics, teleconsultations, delivery, warehousing, and commissions from facilitating pathological tests. The firm also earned Rs 108 crore in non-operating income from interest and asset gains, taking its total revenue to Rs 5,898 crore in FY25. On the expenses side, the cost of materials remains the largest cost centre constituting 67.2% of the total expenditure to Rs 4,844 crore in FY25. PharmEasy’s employee benefit expenses went up by 30% to Rs 908.4 crore in the last fiscal year as compared to Rs 700 crore in FY24. Meanwhile, finance costs also went down 30% to Rs 506 crore while the depreciation and amortization expenses declined 21.7% to Rs 168.9 crore during the year. Contractual payment for delivery associates was another significant cost at Rs 90 crore. Other expenses include legal, professional, sales promotion, and marketing. The company’s overall expenses also remained flat at Rs 7,208.5 crore in FY25. While the company’s revenue and expenses remained largely unchanged in FY25, a reduction in exceptional items such as early redemption charges on non-convertible debentures, goodwill impairment and others helped narrow its losses by 38% to Rs 1,572.3 crore compared to Rs 2,533.5 crore in FY24. PharmEasy’s EBITDA (loss) stood at Rs 553.5 crore while its ROCE and EBITDA margin improved marginally to -13.9% and -15.71%, respectively. On a unit level, Pharmeasy spent Rs 1.23 to earn a rupee of revenue during the fiscal year ending March 2025. Thyrocare, a diagnostic and preventive healthcare service provider, in which Pharmeasy acquired a majority stake in June 2021, posted Rs 687.5 crore in FY25, a 20% increase compared to Rs 571.88 crore in FY24. During the same period, its profit also grew by 30% to Rs 90.75 crore. Earlier this year, PharmEasy cofounders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia stepped back from the company, while the fourth cofounder Siddharth Shah exited last month. The parent entity API Holdings has now appointed Rahul Guha, who also serves as the MD and CEO of Thyrocare, as its new MD and CEO. According to the startup data intelligence platform TheKredible, PharmEasy has raised around $1.1 billion to date from Ranjan Pai’s MEMG, Prosus, and Temasek, among others.

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25

EntrackrEntrackr · 2m ago
Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25
Medial

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25 Auxilo’s revenue from operations grew 48.3% to Rs 528 crore in FY25, up from Rs 356 crore in FY24, as per its annual financial statements sourced from the Registrar of Companies. After doubling its revenue in FY24, education-focused non-banking financial company (NBFC) Auxilo has delivered another strong performance in FY25, going past Rs 500 crore in revenue and posting over Rs 100 crore in profit after tax (PAT). The Mumbai-based NBFC provides education loans to students pursuing higher studies in India and abroad. Its offerings cover the complete cost of education, including tuition fees, pre-visa expenses, travel, and other related costs. Interest income formed the bulk of its business, contributing 90.5% of total operating revenue, which grew 49.4% to Rs 478 crore in FY25. Fees, commissions, and other operating income collectively stood at Rs 50 crore during the year. Including other income of Rs 16 crore, Auxilo’s total revenue reached Rs 544 crore in FY25. On the expenditure side, interest costs accounted for 71.5% of total expenses, rising in line with disbursements to Rs 282 crore in FY25. Employee benefits were recorded at Rs 56 crore, while overall costs increased to Rs 394 crore in FY25, compared to Rs 275 crore in FY24. The company’s controlled cost structure supported profitability, leading to a 62.3% jump in PAT to Rs 112 crore in FY25, against Rs 69 crore in FY24. Auxilo’s expense-to-revenue ratio also improved to 0.75 in FY25. Earlier this year, Auxilo raised Rs 50 crore from Motilal Oswal. Since its inception, it has secured over $100 million across equity and debt. The company competes with other well-funded education-financing players such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz.

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses

EntrackrEntrackr · 9m ago
Progcap crosses Rs 150 Cr revenue in FY24, cuts losses
Medial

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses Peak XV and Tiger Global-backed fintech firm Progcap has scaled more than 5X in the last two fiscal years, from Rs 26 crore in FY22 to Rs 139 crore in FY24. The firm also managed to reduce its losses in the same period. Progcap’s revenue from operations nearly doubled to Rs 139 crore in FY24 from Rs 71 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Progcap facilitates debt capital for underserved micro and small businesses. The fintech platform digitizes supply chains and facilitates access to finance for last mile retailers. Revenue from these services was the sole source of income for the company. Progcap made an additional Rs 20 crore from interest on deposits and gains on current investments which pushed its total income to Rs 159 crore in FY24 from Rs 102 crore in FY23. On the expense side, employee benefit costs remained the largest expenditure, accounting for 61% of the total expense, to the tune of scale. This cost grew by 15% to Rs 124 crore in FY24. The firm’s finance costs surged sharply to Rs 22.5 crore from just Rs 1 crore in FY23. Other major expenses included collection deficiency charges (Rs 9.5 crore), travel expenses (Rs 6 crore), and miscellaneous costs. Overall, the company’s total expenses grew by 36% to Rs 203 crore in FY24 from Rs 149 crore in the preceding fiscal year. Progcap managed to cut its losses by 6% to Rs 46 crore in FY24 from Rs 49 crore in FY23. Its ROCE and EBITDA Margin improved to -2.96% and -11.32% respectively. On a unit basis, the company spent Rs 1.46 to earn a rupee of operating revenue in FY24. The Delhi-based firm reported current assets worth Rs 1,321 crore which include Rs 163 crore of cash and bank balance in FY24. According to TheKredible, Progcap has raised a total of approx $112 million in funding to date, having Tiger Global, Peak XV, Creation Investments, and GrowX Ventures as its lead investors. Progcap’s co-founders, Pallavi Shrivastava and Himanshu Chandra, collectively hold a 23.41% stake in the company.

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