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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24

EntrackrEntrackr · 6m ago
Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.

Unicommerce profits grew 22% in Q1 FY25

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Unicommerce profits grew 22% in Q1 FY25
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Unicommerce, the e-commerce SaaS platform, has announced its results for the first quarter of the ongoing fiscal year. The Gurugram-based company saw a 3% increase in revenue and 22% increase in profit in the first quarter of the ongoing fiscal year as compared to Q1 FY24. Unicommerce’s revenue from operations increased to Rs 27.4 crore in Q1 FY25, from Rs 26.5 crore in Q4 FY24, its audited financial statements sourced from National Stock Exchange (NSE) shows. For background, its operating revenue increased by 15% to Rs 103 crore in the last fiscal year (FY24) from Rs 90 crore in FY23. Unicommerce offers integrated e-commerce enablement SaaS solutions including inventory, return, and omnichannel management. Besides India, Unicommerce operates in Indonesia, Philippines, Singapore, Malaysia, UAE & Saudi Arabia among others. Unicommerce spending on employee benefits, server hosting, finance, legal, and other overheads took the firm’s overall cost to Rs 24.2 crore in Q1 FY25 from Rs 23.9 crore in Q4 FY24. The modest increase in controlled expenditure helped Unicommerce to grow its profits by 22% to Rs 3.5 crore in Q1 FY25 from Rs 2.87 crore in Q4 FY24. On a unit level, it spent Rs 0.88 to earn a rupee in Q1 FY25. The Gurugram-based firm had launched an IPO of Rs 276 crore, open to the public from August 2 to August 6, with a price band of Rs 102-108 per share. Unicommerce’s popularity was evident in its oversubscription rate, which soared over 168 times. The firm is currently trading at Rs 221.97 (as of the end of August 30) with a market capitalization of Rs 2,273 crore (approximately $274 million).

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable

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PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable
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Fintrackr All Stories PaisaWapas revenue nears Rs 70 Cr in FY24, remains profitable Cashback and coupons app PaisaWapas has managed steady growth as its revenue from operations grew 24% year-on-year for the fiscal year ending March 2024. Moreover, the Bengaluru-based company also increased its profit by around 17% during the same period. PaisaWapas’ revenue from operations grew by 24% to Rs 68.7 crore in FY24 from Rs 55.5 crore in FY23, its financial statements sourced from the Registrar of Companies (RoC) show. PaisaWapas operates as a cashback and deals platform, linking shoppers with e-commerce partners. It generates revenue through affiliate commissions, sharing a portion as cashback with users, and also earns from promotions and s. Revenue from these services surged 25.8% to Rs 66.7 crore in FY24, contributing 97% of the operating revenue in FY24. However, revenue from the sale of goods increased marginally by 35.4% to Rs 1.53 crore. The company also generated Rs 30 lakh from other income sources, pushing its total income to Rs 69 crore in the last fiscal year. Cashback to users remained the largest expense category, decreasing 14.6% to Rs 19.5 crore. Meanwhile, payouts to users increased 2.2X to Rs 15.5 crore. Advertising costs rose 95.1% to Rs 16 crore, indicating a focus on customer acquisition and engagement. Employee benefit expenses grew 41.1% to Rs 5.22 crore. Overall, total expenses increased 25% to Rs 64.4 crore, up from Rs 51.5 crore in FY23. PaisaWapas increased its profit by 16.7% to Rs 3.5 crore from Rs 3 crore in FY23. The firm recorded an EBITDA of Rs 4.86 crore, with an EBITDA margin of 7.04% and a Return on Capital Employed (ROCE) of 41.5%. The Bengaluru-based platform reported current assets of Rs 22 crore as of March 2024, while cash and bank balances rose 75% to Rs 7 crore. According to TheKredible, PaisaWapas has raised a total of $46K in funding to date. Vividhity Ventures is the lead investor, holding 2% of the company’s stake. Meanwhile, PaisaWapas’ founders, Shankar Singh and Ashish Kumar, collectively own 94% of the company. PaisaWapas competes against the companies such as CashKaro, CouponDunia, GoPaisa and GrabOn, among several others.

Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%

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Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%
Medial

Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88% E-commerce marketplace Snapdeal delivered steady financial results in FY24 as its revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24. The company’s cost-reduction measures led to its adjusted EBITDA loss dropping by 88% from Rs 144 crore in FY23 to Rs 16 crore in FY24. It also improved its operating cash flows during the last fiscal year. Snapdeal’s revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24 from Rs 371.96 crore in FY23, according to its consolidated financial statements filed with the RoC. Snapdeal’s primary revenue streams include marketing services, e-commerce enablement, and other ancillary sources. Marketing services continued to be the largest contributor, generating Rs 252.55 crore, though it witnessed a dip of 9.6% compared to FY23. Its enablement revenue increased by 14.8% to Rs 103.36 crore, reflecting the platform’s growing traction among value-focused sellers. Additionally, revenue from other sources surged over 8X to Rs 23.85 crore in FY24. Snapdeal’s strategic focus on targeted cost-reduction initiatives led to significant expense savings across multiple categories. The company’s spending on employee benefits reduced by 48.5% to Rs 158.4 crore in FY24 from Rs 307.53 crore in FY23. Promotional costs were also reduced by 23.5% to Rs 70.37 crore during the same period. Overall, the Gurugram-based firm’s total expenditure dropped by 21.4% to Rs 540.76 crore in FY24 from Rs 687.93 crore in FY23. The company’s improved performance was visible in the 43.2% reduction of loss to Rs 160.38 crore in FY24. Further, most of this loss seems to be on account of non-cash heads, including the revaluation of a put option held by Unicommerce investors to the tune of Rs 110 crore, leading to an adjusted EBITDA loss of Rs 16 crore, which shows that the company is nearing its target of reaching profitability. As per the filings, Snapdeal reduced its stake in Unicommerce, generating Rs 33 crore from a secondary sale of 3.4% stakes in May/June 2024 prior to the IPO and an offer for sale of 9.2% stake for Rs 81 crore in the IPO completed in August 2024.

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24

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NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
Medial

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24 Dialysis service provider NephroPlus reported a 29% year-on-year increase in operating revenue for the fiscal year ending March 2024. Significantly, the Hyderabad-based company turned profitable during the period, marking a notable recovery from a Rs 12 crore loss in FY23. NephroPlus’ operating revenue grew to Rs 566 crore in FY24 from Rs 438 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). NephroPlus runs over 275 dialysis centers in more than 170 cities in India and treats nearly 20,000 patients on a monthly basis. Revenue from these services accounted for 95% of the company’s income in FY24. On the expense side, the largest component of expenditure remained the cost of materials, which rose 19% to Rs 169 crore, accounting for over 31% of the total spend. Employee benefit expenses dropped slightly to Rs 91 crore from Rs 97 crore in FY23, while healthcare professional fees surged by 90% to Rs 59 crore. Hospital fees also increased to Rs 56 crore from Rs 48 crore, and other operational expenses climbed to Rs 166 crore. Overall, NephroPlus reported total costs rose 19.7% to Rs 541 crore in FY24. The strategic focus on cost discipline and improved margins helped NephroPlus post a net profit of Rs 35 crore in FY24, as compared to a net loss of Rs 12 crore a year earlier. Its ROCE and EBITDA margin improved to 9.40% and 18.96% respectively. On a unit basis, NephroPlus spent Rs 0.96 to earn a rupee of revenue in FY24. As of March 2024, the company reported current assets worth Rs 390 crore in FY24, out of which Rs 61 crore were in cash and bank balances. According to startup data intelligence platform TheKredible, NephroPlus has raised approximately $212 million in funding to date, having IFC and Besemer Venture Partners as its lead investors. The company’s co-founder and CEO Vikram Vuppala owns 11.6% of the company. Recently, NephroPlus acquired seven new dialysis clinics in the Philippines. The firm is also planning to start its clinics in Saudi Arabia later this year.

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