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SoftBank turns around in FY25: Clocks $7.4 Bn profit, bets big on AI and chips

EntrackrEntrackr · 3m ago
SoftBank turns around in FY25: Clocks $7.4 Bn profit, bets big on AI and chips
Medial

SoftBank Group has posted a net profit of $7.4 billion in FY25, marking a sharp reversal from a loss of $1.4 billion in the previous year. The turnaround follows aggressive bets on artificial intelligence and semiconductor plays. The Japanese conglomerate’s revenue rose 7.2% year-on-year to $45.97 billion, while income before tax jumped to $10.8 billion from just $367.5 million last year. SoftBank attributed the gain to a $23.5 billion investment profit from holdings in Alibaba, T-Mobile, and Deutsche Telekom. Its investment business, led by founder Masayoshi Son, recorded ¥3.41 trillion ($21.7 billion) in gains. This included ¥1.88 trillion ($11.94 billion) from Alibaba and ¥1.35 trillion ($8.58 billion) from T-Mobile. However, these were partially offset by a ¥2.03 trillion derivative loss, largely due to prepaid forward contracts using Alibaba shares. The performance of the Vision Fund segment remained mixed. While Vision Fund 1 clocked a ¥940 billion gain ($5.97 billion), Vision Fund 2 posted a loss of ¥526 billion ($3.34 billion). The group also incurred a ¥491.8 billion ($3.17 billion) charge related to third-party investor interests in the Vision Funds. A large part of Vision Fund 2’s losses came from a drop in the value of companies like Ola and Swiggy, which saw their stock prices and valuations fall. SoftBank said the value of its publicly listed investments under Vision Fund 2 fell by 21.7% in the last quarter. Meanwhile, SoftBank is doubling down its investment in AI infrastructure. It has committed up to $30 billion to OpenAI Global and is acquiring US-based chipmaker Ampere for $6.5 billion. The group also launched the “Stargate” project — a $500 billion initiative to build large-scale AI data centers. Despite the return to profitability, SoftBank flagged macro uncertainties including FX volatility, regulatory risks, and performance variance in its private market bets. The company will propose a year-end dividend of ¥22 ($0.14) per share, taking the full-year payout to ¥44 ($0.28), unchanged from last year.

Zupee posts Rs 146 Cr profit after tax in FY24

EntrackrEntrackr · 4m ago
Zupee posts Rs 146 Cr profit after tax in FY24
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.

Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

EntrackrEntrackr · 9m ago
Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips
Medial

Temasek’s Fullerton recently acquired the troubled fintech firm Lendingkart in a distress sale. The company’s valuation plummeted to around $100 million in the deal, down from its peak of $690 million. While the reasons behind this downfall may become clearer when the firm discloses its FY25 numbers, the company’s profit after tax (PAT) slipped 6% during the fiscal year ending March 2024. We will analyze the company’s expenses in detail in the second half of the story. For now, let’s focus on its revenue streams and their growth. Lendingkart’s revenue from operations increased by 36% to Rs 1,090 crore in FY24 from Rs 798 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Lendingkart is a non-banking finance company (NBFC) that provides working capital and business loans to SMEs across India. It offers loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSMEs and has disbursed over Rs 18,700 crore to more than 300,000 businesses. Revenue from co-lending was the primary contributor, accounting for 54% of the operating revenue, which surged by 88% to Rs 591 crore in FY24. Revenue from interest on term loans shrank by 2.86% to Rs 407.81 crore FY24, while commission income spiked 34X to Rs 22.58 crore in FY24. It also made Rs 69.15 crore from other operating activities. The company generated another Rs 127 crore in FY24 from non operating activities which took its total revenue to Rs 1,217 crore in FY24. On the expense side, finance cost was the major factor, which increased by 16.82% to Rs 293.53 crore in FY24. Employee benefit expenses grew by 75.70% to Rs 199 crore while legal charges increased 58.25% to Rs 125.62 crore FY24. Overall, the firm’s total expenses spiked 49.4% to Rs 1,022.7 crore in FY24 from Rs 684.4 crore in FY23. Note: The company recorded Rs 171.67 crore in FY24 and Rs 67.12 crore in FY23 under impairment losses, these amounts have been excluded from the expense or profit calculations. The rising expenses on employee benefits took a toll on Lendingkart's profit which slipped by 6% to Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23. Its ROCE and EBITDA margin stood at 23.33% and 44.39%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee in FY24. The Ahmedabad-based company reported Rs 768.5 crore in cash and bank balances and had a current asset of Rs 2,110 crore as of FY24. According to TheKredible, Lendingkart has raised a total of Rs 3,217 crore (approximately $452 million) in funding to date. Its leading investors include Temasek, Bertelsmann, Mayfield, and Saama Capital.

CarTrade posts Rs 169 Cr revenue in Q4 FY25, profit jumps 2X

EntrackrEntrackr · 3m ago
CarTrade posts Rs 169 Cr revenue in Q4 FY25, profit jumps 2X
Medial

CarTrade has released its financial results for the fourth quarter of the last fiscal year (Q4 FY25) on Wednesday. The company reported a 17% year-on-year revenue growth compared to Q4 FY24, with profit doubling in the same time period. CarTrade’s revenue from operations grew 17% to Rs 169 crore in Q4 FY25 in contrast to Rs 145 crore in Q4 FY24, as per the firm’s unaudited consolidated financial results sourced from the National Stock Exchange. For the full fiscal year ending March 2025, CarTrade’s revenue rose 31% to Rs 641 crore. Including other undisclosed income, its total income for Q4 FY25 grew to Rs 189 crore, up from Rs 161 crore in Q4 FY24. The Mumbai-based company operates in three segments: Consumer, Remarketing, and Classifieds. Income from the consumer segment formed 37% of the total operating revenue which increased to Rs 63 crore in Q4 FY25 from Rs 49 crore in Q4 FY24. Income from the remarketing and classified segment stood at Rs 59 crore and Rs 47 crore, respectively, in the fourth quarter of the ongoing fiscal year. During the full fiscal year (FY25), income from the consumer segment stood at Rs 238 crore, whereas collection from the remarketing and classified segment stood at Rs 212 crore and Rs 192 crore, respectively. On the expense front, employee benefits expenses formed 52% of the overall spending which went up a modest 6% to Rs 71 crore during the period. Including other costs, CarTrade’s overall expenses increased 4% to Rs 136 crore in Q4 FY25 from Rs 131 crore during Q4 FY24. On a fiscal-on-fiscal year basis, its overall expenses increased to Rs 543 crore in the last fiscal year from Rs 457 crore in FY24. The decent growth and controlled spending enabled CarTrade to double its net profit to Rs 46 crore in Q4 FY25, compared to Rs 23 crore in Q4 FY24. On a fiscal basis, the company’s profit spiked to Rs 145 crore in FY25. CarTrade recorded a 5.8% hike in its share price today and is trading at Rs 1,721 (as of 12:50) with a total market capitalization of Rs 8,168 crore.

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