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VC-backed appliance maker Atomberg's revenue rises; cuts EBITDA loss

VCCircle

VCCircle · 9m ago

VC-backed appliance maker Atomberg's revenue rises; cuts EBITDA loss

Consumer durables company Atomberg Technologies, known for its energy-saving fans, reported a 31% increase in revenue from operations to INR 848 crore in the last financial year. The company primarily relies on fan sales, which accounted for over 99% of its operating revenues. However, the non-fan business, including kitchen appliances and smart locks, contributed less than 1% to its sales. Atomberg also managed to reduce its operating loss significantly, although its net loss widened due to ESOP grants, management bonuses, and fundraising costs.

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KKR-backed Livspace's topline rises 21% in FY24, EBITDA loss halves

VCCircle

VCCircle · 10m ago

KKR-backed Livspace's topline rises 21% in FY24, EBITDA loss halves

KKR-backed Livspace, a home interior and renovation company, has reported a 21% increase in revenue and a halving of its adjusted EBITDA loss for FY24. The company's revenue reached INR 1,185 crore ($158 million) and its adjusted EBITDA loss decreased to INR 246.7 crore. Livspace has seen strong growth in the residential segment, particularly in the premium and mass premium sectors. It expects to achieve profitability by the end of the year and is considering an India listing within the next 18-24 months. Livspace offers a range of home interior solutions and has a network of over 90 stores in India.

Tencent-backed Practo misses FY24 revenue target, trims EBITDA loss

VCCircle

VCCircle · 7m ago

Tencent-backed Practo misses FY24 revenue target, trims EBITDA loss

Tencent-backed Practo achieved a 23% revenue growth to Rs 240 crore in FY24 but fell short of its 44% target. It significantly reduced its EBITDA loss from Rs 99.4 crore in FY23 to Rs 17 crore and recorded an adjusted EBITDA profit in Q4. Practo aims to be EBITDA-positive by FY25, focusing on expanding its core business, which includes booking medical appointments and offering telemedicine services. The company operates in 22 countries and is backed by investors like Tencent.

TPG, KKR-backed Livspace posts strong revenue growth in FY23, narrows EBITDA loss

VCCircle

VCCircle · 1y ago

TPG, KKR-backed Livspace posts strong revenue growth in FY23, narrows EBITDA loss

Livspace, a home décor startup backed by private equity firms TPG and KKR, reported substantial revenue growth and reduced its EBITDA loss for the fiscal year ending in March 2023. The company achieved an 85% increase in its top-line revenue across the business during this period.

Ola Electric’s FY23 net loss almost doubles, revenue jumps but misses target

VCCircle

VCCircle · 1y ago

Ola Electric’s FY23 net loss almost doubles, revenue jumps but misses target

Ola Electric, the electric scooter maker backed by SoftBank, experienced a significant increase in net loss for the financial year ended in March 2023. However, the company did not meet its revenue target for the same period. Despite these challenges, Ola Electric is preparing for an upcoming initial public offering in the following year.

Peak XV, Lightrock-backed Yubi's topline rises, net loss narrows

VCCircle

VCCircle · 9m ago

Peak XV, Lightrock-backed Yubi's topline rises, net loss narrows

Yubi (formerly known as CredAvenue), a financial services unicorn backed by investors including B Capital and Lightspeed, has seen a rise in revenue from operations and a narrowing of net losses. The company offers debt restructuring, credit assessment, and collections services to banks and fintech companies. Its revenue from operations increased by 47.6% to INR 483.7 crore in the financial year 2024, while its net loss decreased to INR 395.8 crore. Yubi supports over 17,000 enterprises and 6,200 investors and lenders through its credit marketplace.

Aman Gupta’s boAt sold audio products, smartwatches worth INR 3,376 Cr in FY23

Inc42 · 1y ago

Aman Gupta’s boAt sold audio products, smartwatches worth INR 3,376 Cr in FY23

Audio and smartwatch maker boAt recorded sales of over INR 3,000 crore in the fiscal year ending March 2023. The company's operating revenue rose by 18% to INR 3,376.7 crore during the period. However, boAt reported a loss of INR 129.4 crore in FY23, marking its first net loss since its establishment. The increase in expenses outpaced the rise in sales, resulting in a negative EBITDA margin of -1.6%. The company's major expenses included procurement costs, advertising expenses, and employee benefit expenses. boAt had postponed its IPO plans due to market volatility and has raised $177 million in funding to date.

Bira’s costly rebranding led to an ₹80 crore loss

Inshorts · 5m ago

Bira’s costly rebranding led to an ₹80 crore loss

B9 Beverages Limited, maker of Bira 91, suffered an ₹80 crore loss after dropping "Private" from its name, halting sales for months due to compliance issues. This led to a 22% revenue drop and ₹748 crore net loss in FY 2023-24. Facing rising competition from global beer giants, Bira 91 maker plans an IPO to fund expansion.

Logistics startup Shadowfax converts to public entity in run-up to IPO

Economic Times

Economic Times · 4m ago

Logistics startup Shadowfax converts to public entity in run-up to IPO

Flipkart-backed logistics startup Shadowfax has converted to a public entity, a significant step toward its planned IPO. The company aims to file for the IPO in the next few months and has appointed ICICI Securities, JM Financial, and Morgan Stanley as bankers. Shadowfax plans to issue new equity shares and offers for sale by existing shareholders. Recently, Shadowfax achieved Ebitda profitability and saw a revenue increase, while cutting its net loss significantly.

Chaayos’ Loss Halves To INR 54 Cr In FY24

Inc42 · 7m ago

Chaayos’ Loss Halves To INR 54 Cr In FY24

Chaayos witnessed a significant improvement in its financial performance during FY24. The company managed to halve its loss to INR 54 crore, while its operating revenue increased modestly by 4.89% to reach INR 248.6 crore. Additionally, Chaayos successfully reduced its total expenditure by 3.69% to INR 352.2 crore. Notably, the company achieved a positive EBITDA of INR 28.3 crore, compared to an EBITDA loss of INR 22.1 crore in the previous fiscal year.

Jewellery brand Giva's revenue rises 66% in FY24, losses widen 30%

Economic Times

Economic Times · 8m ago

Giva, a jewellery brand backed by Premji Invest, saw a 65.8% YoY growth in operating revenue, reaching Rs 273.6 crore for the fiscal year ending in March 2024. However, its net loss widened by 29.6% to Rs 58.6 crore. The company expanded from silver jewellery to include lab-grown diamonds and gold jewellery. The cost of metal procurement, its largest expense, increased by over 53%. Giva offers products through various channels, including its app, website, offline stores, and third-party platforms. It recently raised Rs 255 crore in funding and plans to open 100 new stores annually.

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