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Snapdeal posts Rs 388 Cr revenue in FY23; losses cut 45%
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1y ago
Medial
Gurugram-based e-commerce platform Snapdeal has reduced its losses by 45% in FY23, reporting losses of Rs 282 crore compared to Rs 510 crore in FY22. The company also achieved profitability in Q3 of FY24. Snapdeal managed to decrease its Adjusted EBITDA loss by 65.6% to Rs 144 crore in FY23. It attributed its improved performance to higher gross margins and increased efficiency in marketing spends through analytics. Snapdeal is focused on achieving break-even and expanding profitability.
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Giva earns Rs 165 Cr revenue, loses 45 Cr in FY23
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1y ago
Medial
Jewellery startup GIVA reported a revenue of Rs 165 crore in FY23, a significant increase from Rs 84 crore in FY22. Despite the growth in revenue, the company's losses also increased, resulting in a 2.4X surge from FY22 to reach Rs 45 crore in FY23. GIVA's expenses, particularly in marketing and employee benefits, played a role in the increased losses. The company faces challenges in attracting customers, particularly in the affordable jewellery segment. The upcoming fiscal year will determine if GIVA can find a sustainable path to recovery.
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Zoomcar India posts Rs 237 Cr loss on Rs 69 Cr revenue in FY23
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1y ago
Medial
Zoomcar India reported a revenue decline of 27% in FY23, with revenues from operations dropping to Rs 69 crore. The company's losses also increased by 3.2 times, reaching Rs 237 crore. Zoomcar claims to make money from commission on short-term rentals, subscriptions, and facilitation services, but did not provide a revenue breakdown for FY23. The largest cost center was the cost of employee benefits, accounting for 39% of expenses. Despite efforts to control spending, the dip in revenue and other income led to significant losses.
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Quikr posts Rs 51 Cr revenue in FY23, losses shrink 62%
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1y ago
Medial
Quikr, the online marketplace and classified platform, experienced a drop in scale from Rs 191 crore in FY19 to Rs 110 crore in FY20. This declining trend continued until FY22. The Bengaluru-based firm, however, has recently shown signs of stability and resilience with its revenue growing for the first time in the last three years in FY23. Additionally, the former unicorn also managed to bring down its losses by a significant margin during the period. Quikr’s revenue from operations marginally grew 4.7% to Rs 51.36 crore during the fiscal year ending March 2023 as compared to Rs 49.07 crore recorded in FY22, as per the company’s consolidated financial statements with the Registrar of Companies. Quikr made the majority of its revenue from lead referral fees followed by advertising, both verticals collectively contributed to around 90% of revenue in FY23. The remaining sum was collected via commissions, management consultancy services, business support, and other operating activities. The company also earned Rs 2 crore from interest and gains on other financial assets (non-operating income). Considering this, the total income of the company stood at Rs 53.38 crore in FY23. On the cost side, employee benefit was the largest cost expense for the company. Which however shrank 17% to Rs 41.5 crore in FY23 from Rs 50 crore in FY22. IT costs including web hosting and payment gateway also dwindled 43% to Rs 3.5 crore during the year from Rs 6.13 crore in FY22. The company also cut down its legal, promotional, and other expenses, akin to which, the overall expenditure dwarfed 27% to Rs 61.36 crore in FY23. The total expenditure was Rs 84 crore during the previous fiscal year. For a complete expense breakdown and year-on-year financial performance and more information about the company, visit TheKredible. The cost-cutting measures taken by the company during the year can also be seen in its bottom line which improved significantly. Quikr’s losses declined 62% to Rs 7.98 crore during FY23 in comparison to Rs 20.98 crore in FY22. Additionally, the company’s outstanding losses stand at Rs 3,077 crore at the end of FY23. Operating cashflows also turned green (positive) to Rs 2.57 crore in FY23 against Rs 29.23 crore (negative) in the previous year. The EBITDA margin and ROCE of the company strengthened to -3.52% and -3.87%, respectively during the period. On a unit level, Quikr spent Rs 1.19 to earn a rupee of operating revenue in FY23.
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Livspace posts Rs 1,148 Cr revenue in FY23
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1y ago
Medial
KKR-backed home interior platform Livspace experienced impressive year-on-year growth of 85% during FY23. However, the company also incurred a loss of nearly Rs 621 crore (SGD 101.7 million) in the same period. Livspace's revenue from operations increased to Rs 1,148 crore (SGD 188.1 million) during FY23, primarily driven by product sales, which accounted for 50% of revenue. Despite the losses, the company's growth and efficient expense management indicate potential for future profitability.
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Dailyhunt parent’s revenue grows 57% to Rs 1,809 Cr in FY23, reduces burn by 34%
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1y ago
Medial
VerSe Innovation, the parent company of Dailyhunt and Josh, reported a 57% increase in revenue and a 34% decrease in losses in FY23. The company's total revenue increased to Rs 1,809 crore, with operating revenue reaching Rs 1,457 crore. Dailyhunt generated over Rs 1,200 crore in revenue and achieved positive EBITDA, while Josh monetized in H2 FY23 with an ARR of over Rs 300 crore. VerSe effectively controlled expenses, with cost of services accounting for 45% and business promotional expenses decreasing by 22%.
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Cashfree posts Rs 614 Cr revenue in FY23; losses widen
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1y ago
Medial
Cashfree, an online payments processor and aggregator backed by State Bank of India, recorded significant growth in operating scale with a 75.43% increase in revenue from operations in FY23. However, its losses also increased to Rs 133 crore from Rs 3 crore in FY22, mainly due to higher employee benefits and payment processing costs. Cashfree's revenue rose to Rs 614 crore in FY23 from Rs 350 crore in FY22, primarily driven by commissions charged to merchants for using its payment infrastructure. The company recently obtained a payment aggregator license from the Reserve Bank of India, which is expected to boost its revenue further.
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Amazon India logistics unit posts Rs 4,889 Cr income in FY24
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9m ago
Medial
Amazon Transportation Services reported a marginal growth in its revenue during the fiscal year ending March 2024. At the same time, the company reduced its losses by over 6% during the same period. AmazonTransport Services aka ATS’s revenue from operations grew 7.6% to Rs 4,888.9 crore in FY24 from Rs 4,543.3 crore in FY23, its standalone financial statement sourced from Tofler shows. Apart from operational income, ATS’s other income spiked 66% to Rs 57.3 crore in FY24 from Rs 34.5 crore in the previous fiscal year. This brought the total income for FY24 to Rs 4,946.2 crore. Amazon Transportation Services provides logistics and delivery solutions, supporting Amazon's e-commerce operations. Its services include order pickup, sorting, and last-mile delivery across India. It makes money via offering aforementioned services to Amazon India. The company’s total expenses excluding depreciation stood at Rs 4,690.8 crore in FY24 from Rs 4,310.2 crore in FY23, marking an 8.8% rise. Depreciation expenses, however, decreased by 10.2%, standing at Rs 313.7 crore for FY24, down from Rs 349.4 crore in FY23. Despite the growth in revenue, ATS managed to reduce its losses by 6.3% to Rs 80.3 crore in FY24 from Rs 85.7 crore in FY23. Its outstanding losses reached Rs 469.8 crore as of the end of FY24. Other equity components, including the share-based compensation reserve, increased 26% to Rs Rs 490.4 crore in the last fiscal year. While ATS’s parent company, Amazon Corporate Holdings continues to support its operations, the persistent losses indicate ongoing challenges in reaching profitability despite YoY revenue growth. In the past five years, Amazon India (through transport services) has expanded its partnership with Indian Railways, increasing from a single train in 2019 to over 120 trains by 2024, now covering 130 intercity routes across 91 cities.
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Purple Style Labs posts Rs 372 Cr revenue in FY23, cuts losses
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1y ago
Medial
Purple Style Labs, an omnichannel luxury fashion platform, experienced rapid growth with a revenue increase of over eight-fold in the last two fiscal years. Its revenue from operations reached Rs 372 crore in FY23, compared to Rs 44 crore in FY21. The Mumbai-based company also managed to narrow down its losses significantly in the fiscal year ending March 2023. Purple Style Labs primarily generates revenue from the sale of designer fashion and lifestyle products, with a significant contribution from its UK-based subsidiary. The company's expenses include material procurement, advertising and marketing, employee benefits, and other overheads. Despite the growth, Purple Style Labs still posted losses in FY23.
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Chaayos posts Rs 237 Cr revenue in FY23; losses spike 34%
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1y ago
Medial
Chaayos, a tea cafe chain backed by Tiger Global, reported a 75.6% growth in revenue from operations, crossing the Rs 230 crore mark in FY23. The company's revenue increased from Rs 135 crore in FY22 to Rs 237 crore in FY23. However, Chaayos also experienced a 33.8% increase in losses during the same period. The company has 200 cafes across the country and aims to expand to 400 cafes in the near future. The cost of material consumed and employee benefit expenses accounted for a significant portion of the company's expenditures.
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FabAlley and Indya-parent posts Rs 185 Cr revenue and Rs 45 Cr loss in FY23
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1y ago
Medial
High Street Essentials, the parent company of “FabAlley” and “Indya”, witnessed sluggish growth during the previous fiscal year ending March 2023. However, the losses for the Noida-based company also were flat during the same period. High Street Essentials’ revenue from operations increased 17.8% to Rs 185 crore in FY23 from Rs 157 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Established in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials has two women-focused brands – Indya and FabAlley. Indya specializes in offering ethnic clothing and accessories for women, whereas FabAlley caters to women’s Western apparel and loungewear needs. The company claims to have more than 30 stores across the country. The sale of apparel constituted 77% of the total operating revenue which increased 12.7% to Rs 142 crore in FY23. The rest of the income comes from agency commission which increased by 38.7% to Rs 43 crore in FY23. For the fashion brand, the cost of material consumed (procurement) formed 27% of the overall expenditure. This cost increased by 6.8% to Rs 63 crore in FY23. Its advertising cum selling cost saw a growth of 30.8% during the previous fiscal (FY23). Its employee benefit, legal cum professional, freight, and logistics pushed the overall expenditure to Rs 235 crore in FY23 from Rs 206 crore in FY22. Check TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 206 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Total ₹ 235 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Advertisement and sales promotion Advertisement and sales promotion Selling and distribution Selling and distribution Freight Freight Others To check complete Expense Breakdown visit thekredible.com View full data The flat scale and cost did not affect its losses, which remained constant at Rs 45 crore in FY23. Its ROCE and EBITDA margin stood at -247% and -14.2%, respectively. On a unit level, it spent Rs 1.27 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -17% -14.2% Expense/₹ of Op Revenue ₹1.31 ₹1.27 ROCE -130% -247% High Street has raised Rs 180 crore so far and is valued at Rs 700 crore. According to the startup data intelligence platform TheKredible, Elevation Capital is the largest shareholder with 28.18% followed by India Quotient. Its co-founders Tanvi Malik and Shivani Poddar cumulatively command 37.18% of the company.
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