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Tata Digital logs Rs 37,355 crore aggregate GMV in FY24, as turnover rises, loss narrows

Economic Times

Economic Times · 10m ago

Tata Digital logs Rs 37,355 crore aggregate GMV in FY24, as turnover rises, loss narrows

Tata Digital, the ecommerce arm of the Tata Group, reported a gross merchandise value (GMV) of Rs 37,355 crore in FY24. The super app Tata Neu had 20.76 million transacting customers during the year. Additionally, Tata Digital expanded its offerings by launching food delivery and its co-branded credit card reached 1.18 million issued cards. The company's total turnover doubled to Rs 420.5 crore, while losses narrowed. Tata 1mg achieved profitability, while BigBasket and 1mg narrowed their losses. Tata Digital is developing a 'value fashion' offering to compete with Flipkart, Amazon India, and Ajio.

Related News

Tata 1mg posts 20% growth in FY25 turnover as it re-enters investment phase - The Economic Times

Economic Times

Economic Times · 5d ago

Tata 1mg posts 20% growth in FY25 turnover as it re-enters investment phase - The Economic Times

Tata 1mg reported a 20% growth in FY25 turnover to Rs 2,392 crore. Its primary entity, Tata 1mg Technologies, saw revenue of Rs 375 crore and profit after tax rise threefold to Rs 65 crore. Meanwhile, subsidiary Tata 1mg Healthcare had a turnover of Rs 2,016 crore, despite a net loss of Rs 342 crore. The company is in an investment phase as it expands its offline presence and plans a $300 million external fundraise.

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

Entrackr

Entrackr · 4d ago

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mg’s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sons’ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mg’s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

Tata Motors Results 2024 Updates: Net profit rises 222%, declares dividend

Livemint

Livemint · 1y ago

Tata Motors Results 2024 Updates: Net profit rises 222%, declares dividend

Tata Motors reported a significant increase of 222% YoY in its net profit for the quarter ending March 2024, reaching ₹17,407.18 crore. The company experienced a notable surge of 13.3% in consolidated revenue, amounting to ₹1,19,986.31 crore. Tata Motors also declared a final dividend of ₹6 per share. The domestic passenger vehicle sales reached a record high of over 4.2 million units in FY24, with SUVs and emission-friendly powertrains driving the growth. The company recorded its highest-ever turnover and profits in FY24.

BigBasket B2B arm's loss widens 21% in FY23; turnover at Rs 2,261.3 crore

Economic Times

Economic Times · 1y ago

BigBasket B2B arm's loss widens 21% in FY23; turnover at Rs 2,261.3 crore

The unit also registered a turnover of Rs 2,261.3 crore for the fiscal year. In FY22, the unit’s losses stood at Rs 177.9 crore, while its operating revenue was Rs 1,707.2 crore. BigBasket’s parent entity Tata Digital is a part of Tata Sons.

Tata Play net loss narrows to ₹35.38 crore in FY24 as it beefs up streaming business | Mint

Livemint

Livemint · 1y ago

Tata Play net loss narrows to ₹35.38 crore in FY24 as it beefs up streaming business | Mint

Tata Play, previously called Tata Sky, reported a reduced consolidated loss of INR 35.38 crore ($4.8 million) in FY24 compared to INR 105.25 crore the previous year. Revenue from operations decreased by 4.32% to INR 4,327.07 crore. The DTH platform cited intensified competition within the industry and the implementation of New Tariff Order 3.0 as key challenges. Tata Play is focusing on expanding its OTT offerings and has collaborated with Amazon Prime, as well as joined forces with Akash Digital TV to launch an OTT service in Bangladesh. Meanwhile, parent company Walt Disney Co. is struggling to sell its 30% stake in Tata Play.

Tata Digital trims losses by 31% in FY25; Croma, 1MG biggest contributors to top-line

YourStory

YourStory · 5d ago

Tata Digital trims losses by 31% in FY25; Croma, 1MG biggest contributors to top-line

Tata Digital reduced its losses by 31% in FY25 to Rs 828 crore, with brands like Tata 1mg and Croma boosting revenues. Despite sluggish revenue growth, Croma emerged as the top revenue generator, while BigBasket faced challenges due to competition. Supermarket Grocery, BigBasket’s B2B arm, also saw a 7% revenue decline. Tata 1mg’s revenue increased by 36%, while Tata Cliq improved its turnover by 19%. Tata Sons invested an additional Rs 1,965 crore in Tata Digital.

Nykaa’s bet on new-age beauty pays off

YourStory

YourStory · 11m ago

Nykaa’s bet on new-age beauty pays off

Beauty marketplace operator Nykaa reported strong growth in gross merchandise value (GMV) from its beauty-owned brands, reaching Rs 1,095.4 crore in FY24. This accounted for 13% of the overall beauty GMV. New-age brands like Dot & Key and Kay Beauty contributed to this growth. Nykaa's other businesses, including Nykaa Man and Superstore by Nykaa, also performed well, clocking GMV of Rs 835.3 crore in FY24, a 59% increase over the previous year. Nykaa Fashion contributed 27% to the platform's GMV, with revenue of Rs 530.2 crore in FY24. Overall, the company's consolidated net profit for FY24 was Rs 32.2 crore.

Bottomline: CarDekho parent Girnar's revenue slips in FY24 but loss narrows too

VCCircle

VCCircle · 10m ago

Bottomline: CarDekho parent Girnar's revenue slips in FY24 but loss narrows too

CarDekho parent company, Girnar Software, experienced a slight decrease in revenue for FY24, but also managed to reduce its net loss. The Jaipur-based company's revenue dropped by 1.3% to Rs 2,300 crore from Rs 2,331.8 crore. Despite this decline, Girnar Software was able to narrow its net loss significantly.

Paytm Q3: Loss narrows 43% YoY to INR 222 Cr, Sales jump 38%

Inc42 · 1y ago

Paytm Q3: Loss narrows 43% YoY to INR 222 Cr, Sales jump 38%

Fintech giant Paytm reported a 43% decrease in net loss to INR 222 Cr in Q3 FY24 compared to INR 392 Cr in the same period last year, driven by a significant increase in revenue from merchant payment services. Operating revenue surged 38% to INR 2,850 Cr in the reported quarter. Paytm attributed its revenue growth to accelerated gross merchandise value (GMV) growth, higher device additions, and growth in its financial services business. The company also saw a 56% YoY increase in loan disbursements during the quarter.

Uber India logs 41% rise in operating revenue at Rs 3,762 crore; loss narrows 71%

Economic Times

Economic Times · 4m ago

Uber India logs 41% rise in operating revenue at Rs 3,762 crore; loss narrows 71%

Ride-hailing firm Uber's operating revenue in India increased by 41% to Rs 3,762 crore in FY24, reducing losses by 71% to Rs 89 crore. Revenue from its ride-hailing services surged by 19%, while support services grew significantly. Total expenses rose by 26%, with employee benefits accounting for a substantial portion. Uber is reportedly in talks to acquire rival BluSmart, highlighting potential industry consolidation. Rivals Ola and Rapido have seen varying revenue changes in the same period.

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