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Crackdown on pesky telemarketers: TRAI asks telcos to curb misuse of msg headers, content templates

YourStoryYourStory · 11m ago
Crackdown on pesky telemarketers: TRAI asks telcos to curb misuse of msg headers, content templates
Medial

The Telecom Regulatory Authority of India (TRAI) has directed telecom service providers to take action against pesky telemarketers to protect consumers and prevent fraudulent practices. From September 1, 2024, messaging services will be prohibited from transmitting unauthorized URLs, OTT links, or callback numbers. Message traceability will also be enhanced starting November 1, 2024. TRAI has cracked down on unregistered telemarketers and implemented measures such as disconnecting telecom resources and blacklisting them. The authority has also introduced punitive measures for non-compliance with content templates and header guidelines. These efforts aim to ensure a secure messaging ecosystem and consumer protection.

TRAI steps up fight against spam calls, orders telecom operators to blacklist entities

YourStoryYourStory · 11m ago
TRAI steps up fight against spam calls, orders telecom operators to blacklist entities
Medial

The Telecom Regulatory Authority of India (TRAI) has instructed telecom operators to disconnect and blacklist businesses that use bulk connections for spam calls. Entities found guilty can be blacklisted for up to two years and won't receive any new resources from telecoms. This directive includes spam and fraud calls made over traditional phone lines and online platforms like WhatsApp. TRAI has also set deadlines for implementing measures like whitelisting URLs and ensuring traceability of message flow. The decision was made during a meeting with heads of telecom service providers. TRAI had previously asked operators to improve their mobile apps and web portals for spam complaint registration.

MapMyIndia posts Rs 32 Cr profit in Q3 FY25

EntrackrEntrackr · 5m ago
MapMyIndia posts Rs 32 Cr profit in Q3 FY25
Medial

MapMyIndia posts Rs 32 Cr profit in Q3 FY25 CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the third quarter of FY25. The company reported a year-on-year revenue growth of over 24% compared to Q3 FY24. MapMyIndia’s revenue from operations increased to Rs 114.5 crore in Q3 FY25 from Rs 92 crore in Q3 FY24, its unaudited consolidated quarterly report sourced from NSE shows. Income from digital map data, GPS navigation, location-based services, and IoT were the primary sources of revenue for MapMyIndia, which accounted for 90% of the total collection. This revenue source increased by 32.5% to Rs 102.4 crore in Q3 FY25. However, income from the sale of its devices generated Rs 12 crore of revenue. The cost of IoT devices, employee benefits, and technical services (outsourced) were the major cost elements, which pushed the total cost of the firm to Rs 79.4 crore in Q3 FY25 against Rs 60.5 crore in Q3 FY24. With the increase in scale, MapMyIndia recorded a 4.2% increase in its profit to Rs 32.3 crore during Q3 FY25 as compared to Rs 31 crore in the third quarter of the previous fiscal year (Q3 FY24). MapMyIndia is currently trading at Rs 1609 per share with a market capitalization of Rs 8,753 crore ($1 billion). Last month, MapMyIndia announced that its CEO and whole-time director, Rohan Verma, will step down from his executive role effective March 31, 2025. Chairman and Managing Director Rakesh Kumar Verma will continue to provide leadership at MapMyIndia.

WoodenStreet revenue nears Rs 200 Cr in FY23; remains profitable

EntrackrEntrackr · 1y ago
WoodenStreet revenue nears Rs 200 Cr in FY23; remains profitable
Medial

Omnichannel custom furniture platform WoodenStreet has maintained its growth trajectory, achieving over 50% year-on-year sales growth in recent years. Despite the consistent scale, the Jaipur-based firm remained profitable for the past four years. WoodenStreet’s revenue from operations grew 48.1% to Rs 194 crore in FY23 from Rs 131 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Founded in 2015, WoodenStreet offers home solutions including solid-wood and modular furniture, kitchen and wardrobe, home decor, lighting, and furnishings. It currently operates with over 90 stores and caters to more than thirty thousand furnishing products. The sale of furniture, furnishing, and decor items was the sole source of revenue for WoodenStreet. It also made Rs 3.54 crore from interest on deposits and investments, tallying the total revenue to Rs 198 crore during the fiscal year ended March 2023. For the custom furniture platform, the cost of procurement of furniture, furnishing, and decor items accounted for 62.7% of the overall expenditure. In step with scale, this cost grew 46.4% to Rs 123 crore in FY23. Its employee benefits, rent, advertising and promotion, bank charges, electricity, legal, and other overheads took the firm’s total expenditure up by 50.8% to Rs 196 crore in FY23 from Rs 130 crore in FY22. Check TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 130 Cr https://thekredible.com/company/woodenstreet/financials View Full Data To access complete data, visithttps://thekredible.com/company/woodenstreet/financials Total ₹ 196 Cr https://thekredible.com/company/woodenstreet/financials View Full Data To access complete data, visithttps://thekredible.com/company/woodenstreet/financials Cost of materials consumed Cost of materials consumed Employee benefit Employee benefit Rent Rent Advertising promotional expenses Advertising promotional expenses Bank charges Bank charges Electricity Electricity Others To check complete Expense Breakdown visit thekredible.com View full data The consistent expansion and controlled cost mechanism have helped WoodenStreet to book profits for the past four fiscal years. Its ROCE and EBITDA margin stood at 1% and 3.4% respectively. On a unit level, it spent Rs 1.01 to earn a rupee in FY23. WoodenStreet has raised $34 million to date including its $30 million Series B round led by WestBridge. According to the startup data intelligence platform, TheKredible, Indian Angel Network (IAN) was the largest external stakeholder with 11.76% followed by Rajasthan Venture Capital Fund and WestBridge. FY22-FY23 FY22 FY23 EBITDA Margin 3% 3.4% Expense/₹ of Op Revenue ₹0.99 ₹1.01 ROCE 7% 1% As of March 2023, WoodenStreet had cureent assets of Rs 126 crore including cash and bank balances of Rs 45.2 crore. As per Fintrackr’s estimates, its enterprise value to revenue multiple stood at 6X, which is decent when compared to its other VC-backed consumer-facing internet firms. The furniture business is challenging at many levels. Be it sourcing, designs, managing inventory and product degradation, sellers have usually slipped up at one or many of these. WoodenStreet has built some good street cred by managing a profitable journey so far. The obvious challenge is to grow to the next level, which would be Rs 500 crore plus, without breaking the bank. With sales mostly in the NCR region for now, the online model comes with limitations, overcoming which, in the form of more warehouses, higher logistics costs, etc is expensive. All this, while carving out a niche that protects it from the looming presence of say, an Ikea, which will have a pan India presence by 2026 or thereabouts.

Consumer lending app RING raises Rs 100 Cr debt from Trifecta Capital

EntrackrEntrackr · 1y ago
Consumer lending app RING raises Rs 100 Cr debt from Trifecta Capital
Medial

Consumer lending app RING has raised Rs 100 crore in venture debt from Trifecta Capital. With this, the Mumbai-based company has marked its first fundraise in 2024. RING will utilize the debt facility for on-lending and growing its balance sheet loan book, the company said in a press release. With this funding, Trifecta is extending its partnership with founders Krishnan Vishwanathan, Ranvir Singh, and the RING team, for a second time and with a larger cheque. Previously, RING secured Rs 50 crore debt from Trifecta in early 2022. As per the data intelligence platform TheKredible, the company’s parent firm OnEMi Technologies has raised over $150 million (equity + debt) to date from the likes of Brunei Investment Agency, Vertex Ventures, Ventureast, and more. NBFC Kissht is also a part of OnEMi Technologies. Business model and legal structure of the company RING provides personal credit to salaried and self-employed individuals in tier I, tier II, and tier III cities. With its own NBFC license and access to third-party balance sheets, RING claims to have achieved an AUM of over Rs 3,000 crore for the financial year ending March 2024, and serves more than 1 crore unique borrowers, the company said in a statement. RING offers loans up to Rs 5 lakh with flexible repayment options. It enables online and offline payments, bill payments, and UPI transactions. Kissht, on the other hand, provides instant credit for purchases at digital points of sale. It partners with NBFCs to offer easy loans through a network of more than 3,000 offline merchants and over 50 online stores in 40 cities. Recent developments In February last year, the website of Kissht was blocked following a notice from the Ministry of Electronics and Information Technology (MeitY) targeting over 200 gambling and lending apps, most of which appeared to be operated from China. Later, however, a government official clarified that this block might have been done inadvertently. It could be due to an error when dealing with apps that sound similar. After witnessing a dip in FY21, Kissht RING’s parent company managed nearly two-fold growth in scale to Rs 1,020.9 crore in FY23 from Rs 513.6 crore in FY22. The company’s profits shrank 5.8% to Rs 59 crore in FY23 against Rs 62.6 crore in FY22, which can be attributed to ESOP-related expenses. Visit here for more information.

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