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Unacademy narrows down losses by 62% in FY24; revenue remains flat

EntrackrEntrackr · 1y ago
Unacademy narrows down losses by 62% in FY24; revenue remains flat
Medial

Unacademy recorded Rs 988.4 crore in total revenue during FY24, a 5.33% decline compared to Rs 1,044 crore in FY23. However, the SoftBank-backed firm cut its losses by 62%, reducing them to Rs 631 crore in the fiscal year ending March 2024 from Rs 1,678 crore in FY23. Unacademy managed to narrow its losses through cost-cutting measures, including restructuring, according to a document reviewed by Entrackr. According to TheKredible, Unacademy’s operating revenue grew by 26.15% to Rs 907 crore in FY23, up from Rs 719 crore in FY22. Unlike FY23 and FY24, the firm’s revenue has now been largely dependent on the offline model. Unacademy’s online business grew massively during the pandemic (FY21 and FY22), but the entire edtech space lost momentum after the reopening of offline educational institutions, including coaching centers and colleges. The company’s EBITDA loss also improved, decreasing to Rs 489 crore during FY24 from Rs 1,553 crore in FY23. At the same time, the edtech firm had Rs 1,573 crore in cash and cash equivalents as of March 2024. Unacademy connects educators and learners in various fields by offering a range of courses. The company generates revenue through subscriptions to both online and offline learning services. According to documents, FY24 marked a significant improvement in cost efficiency, and the cost rationalization initiatives undertaken during the year are expected to yield positive results in FY25 and beyond. For context, in August 2024, Unacademy announced it would not be providing appraisals for employees in 2024. Founder Gaurav Munjal stated that the company has a strong financial runway and is not at risk of survival. To streamline operations and improve efficiency, the Bengaluru-based company also laid off 250 employees. These financial developments come at a time when Unacademy is considering merger and acquisition opportunities. In June, Entrackr exclusively reported that the SoftBank-backed firm was in early talks to merge with K12 Techno, which runs the chain of Orchids International Schools. In terms of fundraising, Unacademy has not raised capital for over three years. Its last equity round was a $440 million Series H in August 2021, at a valuation of $3.44 billion.

Pratilipi approaches Rs 60 Cr revenue mark in FY24, cuts losses by 62%

EntrackrEntrackr · 1y ago
Pratilipi approaches Rs 60 Cr revenue mark in FY24, cuts losses by 62%
Medial

Pratilipi demonstrated strong financial performance in the last fiscal year, with the company's revenue spiking nearly 66%. Moreover, the Bengaluru-based storytelling platform reduced its losses by over 62% during the fiscal year ending in March 2024. Pratilipi ’s revenue from operations grew to Rs 57.8 crore in FY24 from Rs 35 crore in FY23, its financial statement filed with the RoC shows. Pratilipi is an online storytelling platform which essentially focuses on text and audio storytelling in Indian languages such as Hindi, Gujarati, Bengali, Marathi, and Malayalam across various formats including audiobooks, podcasts, comics, web series and movies. Revenue from content and premium subscription services soared 2X to Rs 34.97 crore in FY24 and accounted for 60.5% of total operating revenue. Brand advertising services grew by 79% to Rs 7.53 crore, while the sale of books went up by 62% to Rs 10.62 crore in the last fiscal year. The company made an additional Rs 70 lakh from interest income which pushed its total revenue to Rs 58.5 crore in FY24. Looking at the expenses, employee benefit expenses, the largest cost segment, dropped by 21% to Rs 46.94 crore in FY24. Advertising expenses saw a steep decline of 62% to Rs 19.36 crore in the last fiscal year . Cloud services and software charges also fell down significantly. Overall, Pratilipi’s total expenses fell by 39% to Rs 116.7 crore in FY24. Due to tight control in expenses, the company’s net loss decreased by 62% to Rs 58.13 crore in FY24 from Rs 152.6 crore in FY23. Its ROCE and EBITDA margin stood at -81.01% and -89.74%, respectively. On a unit basis, Pratilipi spent Rs 2.02 to earn a rupee in FY24. The company reported Rs 2.3 crore in cash and bank balances and had a current asset of Rs 33.26 crore as of FY24. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised over $80 million to date. Its leading investors include Krafton, Nexus Venture Partners, Omidyar Network, Shunwei Capital and Tencent. Pratilipi's CEO, Ranjeet Pratap Singh, recently said that the company aims to launch an initial public offering (IPO) in January 2026, depending on market conditions. He also mentioned plans to raise $12 million in a pre-IPO funding round, potentially at a lower valuation.

Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income

EntrackrEntrackr · 5m ago
Exclusive: Unacademy narrows EBITDA losses by 38% in FY25, reports Rs 826 Cr income
Medial

Unacademy’s total revenue decreased 16% year on year to Rs 826.3 crore in FY25, compared to Rs 988 crore in FY24, according to the internal document reviewed by Entrackr. Despite the year-on-year decrease in total revenue, edtech unicorn Unacademy managed to reduce its EBITDA losses by 37.6% year-on-year in the fiscal year ending March 2025. Moreover, the SoftBank-backed firm also reduced its net losses by 31% year-on-year to Rs 436 crore in FY25. The firm’s EBITDA loss was Rs 305 crore, down from Rs 489 crore in FY24, a 38% reduction due to cost optimization measures. As of March 2025, Unacademy had a cash and cash equivalent balance of Rs 1,238 crore. Recently, Unacademy elevated Sumit Jain, co-founder and head of its Graphy subsidiary, as CEO of its flagship Test Prep business.

BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%

EntrackrEntrackr · 17d ago
BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%
Medial

BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55% BlissClub has recorded strong growth in FY25, with its revenue from operations surpassing the Rs 130 crore threshold. The firm has also reduced its losses by more than half during the period after a notable cut in employee costs. BlissClub’s revenue from operations grew 51% to Rs 131.5 crore in FY25 from Rs 87 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). The company specializes in women’s activewear, accessories, and lifestyle products, and the sale of these items remained its sole source of operating revenue. BlissClub also recorded Rs 3.5 crore in non-operating income, taking its total income to Rs 135 crore in FY25. On the cost side, the cost of materials remained the largest expense, rising 38% to Rs 62 crore in FY25 from Rs 45 crore in FY24. Other expenses increased 31% to Rs 29.5 crore, while transportation costs more than doubled to Rs 16 crore during the year. In contrast, employee benefit expenses declined 42% to Rs 18 crore in FY25 from Rs 31 crore in FY24, while legal charges stood at Rs 5 crore during the period. Overall, the company’s total expenses increased 14% to Rs 155.5 crore in FY25 from Rs 136 crore in FY24. As revenue growth outpaced the rise in expenses, BlissClub managed to cut its losses by 54.5% to Rs 20 crore in FY25 from Rs 44 crore in FY24. Its ROCE and EBITDA margins stood at -44.57% and -15.09%, respectively. On a unit basis, the company spent Rs 1.18 to earn a rupee during the fiscal year. BlissClub recorded cash and bank balances of Rs 39 crore in FY25, while its current assets stood at Rs 75 crore. BlissClub has raised around $21.6 million in funding to date, with Elevation Capital as its lead investor. The company competes with brands such as Kica Active, SilverTraq, Cultsport, Cava Athleisure, HRX, Spirit Animal, Playfiks, and Decathlon’s Domyos. BlissClub operates in India’s activewear market alongside brands such as HRX, Decathlon Domyos, and Cultsport. While several players compete across categories, BlissClub has focused on women’s activewear and built its presence through D2C channels and product-led positioning. The company has emerged as one of the faster-growing brands in the segment, with revenue rising over 8X from Rs 15 crore in FY22 to Rs 130 crore in FY25, while maintaining control over expenses. With tighter cost control in FY25, the firm could move closer to breakeven in FY26 if it continues to prioritize disciplined growth over aggressive expansion.

Oziva revenue grows 2.5X in FY25; cuts losses by 90%

EntrackrEntrackr · 6m ago
Oziva revenue grows 2.5X in FY25; cuts losses by 90%
Medial

After reporting flat growth in FY24, HUL-acquired nutrition and wellness brand Oziva recorded a 2.5X increase in operating revenue. The company also narrowed its losses by 90%, even as expenses rose 75% on account of higher advertising and material costs. Oziva’s revenue from operations jumped 148% to Rs 258 crore in FY25 from Rs 104 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). The firm generates revenue from nutrition and wellness products across categories such as plant-based supplements, protein, and vitamins. These products contributed 99% of its revenue, with the Indian market being the sole revenue source for Oziva. On the expense front, advertising remained the single largest cost element, ballooning 94% to Rs 120 crore in FY25 from Rs 62 crore in FY24. Cost of material consumed rose 58% to Rs 71 crore, while employee benefit expenses grew 44% to Rs 23 crore. Transportation cost more than doubled to Rs 24 crore, whereas finance cost remained flat at Rs 1.2 crore. Overall, Oziva’s total expenses rose 75% to Rs 267 crore in FY25 from Rs 153 crore in FY24. With revenue outpacing expense growth, the company slashed its losses by 90% to Rs 4.5 crore in FY25 from Rs 43.5 crore in FY24. Its ROCE and EBITDA margin stood at -7.50% and -1.21%, respectively. On a unit level, Oziva spent Rs 1.04 to earn a rupee in the last fiscal year. As of March 2025, the Mumbai-based company recorded current assets worth Rs 104 crore including Rs 27 crore in cash and bank balances. In December 2022, HUL acquired a 51% stake in OZiva with the first tranche at a cash consideration of Rs 264.28 crore. The company will acquire the remaining 49% stake after the expiry of three years from the completion of the first tranche. According to TheKredible, the company’s co-founders Aarti Gill and Mihir Gadani together own 36.22% of the company.

WheelsEye posts Rs 243 Cr revenue in FY25; losses remains flat

EntrackrEntrackr · 9d ago
WheelsEye posts Rs 243 Cr revenue in FY25; losses remains flat
Medial

Logistics SaaS firm WheelsEye reported modest growth in the fiscal year ended March 2025. Its operating revenue rose 17% during the period, following a slowdown after FY22. Meanwhile, the company’s losses remained almost unchanged. WheelsEye’s revenue from operations grew to Rs 243.4 crore in the last fiscal year, from Rs 208.8 crore in FY24, according to its standalone financial statement sourced from the Registrar of Companies (RoC). Founded in 2017, WheelsEye provides an app-based platform for truck booking and fleet management in India, along with software, GPS tracking devices, and FASTag solutions for truck fleet operators. Revenue from software subscription services rose 20% to Rs 152.7 crore and accounted for nearly 62% of the total operating revenue. The company also sells bundled solutions that include a GPS hardware device and an integrated licensed software subscription for vehicle navigation. Revenue from this segment surged 32% year-on-year to Rs 62 crore in the last fiscal. The rest of the collections came from the sale of FASTag, commissions, and other operating sources. The company also recorded Rs 27.6 crore from interest income on fixed deposits and subcontracting income, which pushed its total income to Rs 271 crore in FY25. WheelsEye's largest cost component, employee benefit expenses remained unchanged at Rs 141.8 crore. The cost of materials (GPS devices) increased by 68% to Rs 45.7 crore, while IT expenses decreased by 7% to Rs 12.4 crore. The cost of hiring supervisors also accounted for 17.3 crore in the previous fiscal. The company also booked undisclosed miscellaneous expenses of Rs 57 crore in the last fiscal year, apart from commission, travel, advertising, and other expenses. WheelsEye’s overall expenses increased by nearly 10%, Rs 317.8 crore in FY25. In the end, the firm’s losses remained flat at Rs 47 crore. Although revenue growth outpaced the rise in expenses, a decline in other income kept losses unchanged. Its ROCE worsened to -84.31%, while the EBITDA margin improved to -25.47%. Cost efficiency also improved, with the company spending Rs 1.31 to earn a rupee in FY25. As of March 2025, WheelsEye recorded Rs 208.3 crore in current assets, including Rs 10.7 crore in cash and bank balances. The company’s parent entity, WheelsEye Technology Inc., is based in the United States and holds a 99.9% stake in the Indian entity.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 5m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
Medial

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

Bhanzu reports 3.7X growth in FY25; losses trims 42%

EntrackrEntrackr · 10d ago
Bhanzu reports 3.7X growth in FY25; losses trims 42%
Medial

Bhanzu reports 3.7X growth in FY25; losses trims 42% Bhanzu posted strong growth in the fiscal year ended March 2025, as its operating revenue jumped nearly fourfold. Despite the sharp rise in scale, the company kept expenses stable, which helped its losses reduce by 42% during the period. Hyderabad-based Bhanzu’s revenue from operations jumped over 3.7X year-on-year to Rs 109.5 crore in FY25 from Rs 29.4 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Bhanzu provides experiential math learning courses that enable cognitive abilities among children aged between 5 to 16 years. According to its website, the company has trained over 50,000 students through its bouquet of courses. The sale of these courses was the sole source of its operating revenue in FY25. The company also has a presence in the US, the UK, and the Middle East. According to the filing, international markets contributed over 69% of total revenue at Rs 75.7 crore, a 4.3X jump compared to FY24. Meanwhile, the Indian market contribution stood at Rs 33.9 crore, with nearly 3X year-on-year growth. For the edtech firm, employee benefits formed the largest cost head, with 50% share of total expenditure. This cost fell 17% to Rs 96.3 crore in FY25 from Rs 115.4 crore in FY24. The decline came largely due to lower ESOP cost (non-cash), which dropped to Rs 11.7 crore from Rs 25.8 crore in the previous fiscal. The Lightspeed-backed company also spent heavily on sales and marketing expenses, which formed over 20% of the total expenditure. This cost rose 46% year-on-year to Rs 40.8 crore in the last fiscal year. Training and recruitment expenses also surged 2.4X to Rs 28.6 crore. IT expenses, legal and professional fees, rent, and other overheads added Rs 27.9 crore to the overall expenditure. As a result, total expenses rose 11% to Rs 193.6 crore in FY25, compared to Rs 174.4 crore in FY24. In the end, the 3.7X growth led the company to cut its losses by 42% to Rs 79 crore in FY25, compared to Rs 135.5 crore in FY24. Its EBITDA margin improved to -75.8%, while EBITDA (loss) stood at Rs 83 crore in the previous fiscal. At the unit level, Bhanzu spent Rs 1.77 to earn every rupee of operating revenue in FY25. As of March 2025, the firm reported current assets of Rs 179.5 crore, including cash and bank balances of Rs 167.5 crore. The strong cash position followed the $16.5 million Series B round led by Epiq Capital during the financial year.

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