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Shiprocket’s FY24 Revenue Jumps 21% To INR 1,316

Inc42 · 9m ago

Shiprocket’s FY24 Revenue Jumps 21% To INR 1,316

The company is progressing towards profitability by FY2025 but faced widened loss margins due to various factors. The logistics unicorn recorded a net loss of INR 595 Cr in FY24, compared to INR 341 Cr in FY23. The company also issued ESOPs worth INR 192 Cr and made investments in emerging businesses, overheads, and capability-building during the year.

Related News

Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi

StartupTalky

StartupTalky · 2m ago

Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi

Shiprocket, backed by Zomato and Temasek, has confidentially filed for an IPO with Sebi, aiming to raise INR 2,000-2,500 crore. Established in 2012, Shiprocket serves over 100,000 sellers in India and focuses on rapid commerce, cross-border shipping, and digital payments. Despite a net loss of INR 595 crore in FY24 due to acquisitions, it reported INR 1,316 crore in revenue, reflecting a 21% increase. The firm is collaborating with Swiggy Instamart and Zepto for stock management.

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr

Inc42 · 9m ago

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr

The startup reported a significant increase in operating revenue of INR 88 Cr, a 114% rise from the previous year. However, its total loss for the fiscal year 2024 was INR 96 Cr, showing an 18% decrease from the previous fiscal year. The startup's expenditure also increased by 21% to reach INR 200 Cr in FY24 compared to INR 165.4 Cr in the previous fiscal year.

Yubi Group Cuts FY24 Net Loss By 22%, Revenue Jumps 47%

Inc42 · 9m ago

Yubi Group Cuts FY24 Net Loss By 22%, Revenue Jumps 47%

Yubi, a debt platform connecting enterprises with lenders and investors, has reported a significant reduction in losses and an increase in operating revenue. The company's losses decreased by over 22% to INR 395.8 Cr in FY24 compared to INR 509.8 Cr the previous year. At the same time, its operating revenue surged by over 47% to INR 483.7 Cr in FY24 compared to INR 327.6 Cr the previous year. Yubi was founded in 2017 by Gaurav Kumar.

Shiprocket’s revenue grows to Rs 1,316 Cr in FY24, cuts losses

Entrackr

Entrackr · 9m ago

Shiprocket’s revenue grows to Rs 1,316 Cr in FY24, cuts losses

Logistics and supply chain enabler Shiprocket has managed decent growth in the fiscal year ending March 2024. Its co-founder and chief executive officer Sahil Goel claimed that the company’s operating revenue grew 21% year-on-year and reached Rs 1,316 crore in the last fiscal year. For context, Shiprocket recorded Rs 1,088.7 crore in revenue from operations in FY23 while its losses were at Rs 333.81 crore (including Rs 63.16 crore worth of exceptional items booked for amortization of intangible assets and investment provisions) during the period. While the company is still far away from profitability, Goel claimed that Shiprocket reduced its cash EBITDA burn by 48%, bringing it down from Rs 191 crore in FY23 to Rs 100 crore in FY24. According to him, the reduction in losses was a key factor in the company achieving cash profitability in the first two-quarters of FY25. The improved EBITDA margin reflects Shiprocket’s efforts to optimize operational efficiency, reduce costs, and increase its profit margins according to Goel’s LinkedIn post. “Our Emerging Businesses are growing at a rate of ~75% Y-o-Y including Shiprocket Cross Border, Checkout, Capital, and other innovations that are leading the way as we rapidly scale new products and offerings for Indian SMBs,” said Goel. The integration of Pickrr’s Domestic Shipping also played a crucial role in strengthening Shiprocket's core platform. Founded by Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket provides logistics and supply chain solutions to retailers which lets them integrate their shopping websites across e-comm enablers such as Shopify, Magenta, and others. The company claims to empower over 1.5 lakh active businesses and enable 5% of India’s e-commerce through its platform. In December 2021, Shiprocket raised $185 million in a Series E round co-led by Zomato, Temasek, and Lightrock India. The firm turned unicorn in August 2022 following a $33 million tranche. In October last year, it also scooped up $11 million from McKinsey at a flat valuation.

D2C Startup Arata’s Sales Jump 50% To INR 21 Cr In FY24

Inc42 · 8m ago

D2C Startup Arata’s Sales Jump 50% To INR 21 Cr In FY24

Summary: The startup has seen a significant increase in operating revenue, reaching INR 21 Cr in FY24, compared to INR 14 Cr in FY23. However, the company also reported a loss of INR 4.3 Cr in FY24, which is a 54% decrease from the INR 9.4 Cr loss reported in the previous year. Total expenditure remained relatively stable at INR 26.5 Cr in FY24, similar to the previous year's expenditure.

ideaForge’s Q3 Profit Jumps 16X QoQ To Touch INR 14.8 Cr

Inc42 · 1y ago

ideaForge’s Q3 Profit Jumps 16X QoQ To Touch INR 14.8 Cr

Drone manufacturer ideaForge reported a net profit of INR 14.8 Cr in Q3 FY24, a significant increase from a loss of INR 7.8 Cr in the same quarter last year. The company's operating revenue also saw a substantial rise of over 1,000% to INR 90.9 Cr in Q3 FY24. ideaForge's strong growth is attributed to its commitment to delivering high-quality products and solutions. The company's EBITDA increased to INR 26.2 Cr in Q3 FY24. Total expenses rose by 173%, primarily due to increased spending on materials consumed.

Trust Fintech’s Net Profit Jumps 3X To INR 12.5 Cr In FY24

Inc42 · 1y ago

Trust Fintech’s Net Profit Jumps 3X To INR 12.5 Cr In FY24

Trust Fintech, a Nagpur-based company offering SaaS products and fintech solutions, witnessed a significant increase in operating revenue, which rose by 55.4% to INR 35 Cr in FY24 compared to INR 22.5 Cr in FY23. However, the company experienced a decline in profit and revenue in the second half of FY24, in contrast to the first half of the year. Trust Fintech recently listed on NSE Emerge.

Astrotalk’s FY24 Profit Jumps Multifold To INR 100 Cr

Inc42 · 8m ago

Astrotalk’s FY24 Profit Jumps Multifold To INR 100 Cr

Astrotalk, an online astrology startup that offers consultations with astrologers, saw a significant increase in its operating revenue. In FY24, the company's revenue jumped by nearly 130% compared to the previous year, reaching INR 651.12 crore. Astrotalk generates revenue through fees charged to customers for their consultations. Earlier this year, the startup also secured INR 110 crore in funding through a combination of primary and secondary transactions.

Yatra Q3: Posts INR 1.1 Cr PAT, Revenue Jumps 23% YoY

Inc42 · 1y ago

Yatra Q3: Posts INR 1.1 Cr PAT, Revenue Jumps 23% YoY

Yatra Online, an Indian online travel aggregator, reported a consolidated net profit of INR 1.1 Cr in Q3 FY24, compared to a loss of INR 5.6 Cr in the same quarter of the previous year. Operating revenue increased by almost 23% YoY to INR 110.3 Cr in Q3 FY24. The company's domestic air passenger traffic grew by 26% YoY during the quarter. However, its EBITDA declined by 25% YoY to INR 4.8 Cr. Yatra continues to expand its corporate client base and closed 26 new corporate accounts during the quarter.

eShakti FY23: Net Loss Jumps 23% To INR 46.1 Cr, Revenue Up 19%

Inc42 · 1y ago

eShakti FY23: Net Loss Jumps 23% To INR 46.1 Cr, Revenue Up 19%

Chennai-based fashion ecommerce platform eShakti has reported a 23% increase in net loss for the year ending March 31, 2023. The company's loss amounted to INR 46.1 Cr in FY23 compared to INR 37.5 Cr in the previous year. This higher loss was primarily due to increased expenditure, which rose by 21% to INR 203.9 Cr in FY23. On the positive side, eShakti's operating revenue grew by 19% to INR 154.5 Cr in FY23 from INR 129.9 Cr in FY22.

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