🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Perfora manages 30X revenue growth in three years

EntrackrEntrackr · 4m ago
Perfora manages 30X revenue growth in three years
Medial

Perfora manages 30X revenue growth in three years Oral-care brand Perfora has experienced rapid growth over the past three fiscal years, with revenue surging 30X from Rs 1.4 crore in FY22 to over Rs 42 crore in FY24. This growth has been steered by the rising demand for electric toothbrushes and other oral care products. On a year-on-year basis, Perfora’s revenue from operations grew 2.8X to Rs 42.2 crore in FY24 from Rs 15 crore in FY23, according to its consolidated financial statement sourced from the RoC. Perfora offers personalized electric toothbrushes, toothpastes, alcohol-free mouthwashes, and other related offerings. The sale of these products remained the sole source of revenue for Perfora in FY24. Advertising expenses were the largest cost center, increasing 3X to Rs 20.5 crore, accounting for 38% of total expenses. The cost of materials doubled to Rs 19.5 crore, while employee benefit expenses rose 2.8X year-on-year to Rs 3.7 crore. Other expenses, including administrative and operational costs, contributed Rs 10.3 crore in the last fiscal years. Overall, the DSG-backed company’s total expenses surged 2.6X, reaching Rs 54 crore in FY24 from Rs 20 crore in FY23. By the end of FY24, Perfora’s losses more than doubled to Rs 10.6 crore from Rs 5 crore in FY23. Its Return on Capital Employed (ROCE) stood at -75.94%, while its EBITDA margin was -23.23%. On a unit level, Perfora spent Rs 1.28 to earn every rupee of operating revenue in FY24. At the close of FY24, the Gurugram-based firm recorded current assets worth Rs 24 crore, including Rs 9.6 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Perfora has raised a total of $4 million of funding till date, having Sauce as its lead investor with 16% stake. The company’s co-founders Jatan Bawa and Tushar Khurana together own 48.5% of the company.

Bloom Hotels posts Rs 250 Cr revenue in FY24; profit spikes 2.3X

EntrackrEntrackr · 7m ago
Bloom Hotels posts Rs 250 Cr revenue in FY24; profit spikes 2.3X
Medial

Hospitality chain Bloom Hotels has showcased impressive over fivefold growth in the past two fiscal years, surging its scale from Rs 49 crore in FY22 to Rs 250 crore in FY24. On a year-on-year basis, its operating revenue grew 73.6% in the fiscal year ending March 2024, while the firm’s profit spiked 2.3X. Bloom’s revenue from operations grew by 73.6% to Rs 250 crore in FY24 from Rs 144 crore in FY23, according to its annual consolidated financial statements sourced from the Registrar of Companies. The company operates hotel brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. Income from the room rental accounted for 85.2% of the operating revenue which surged 79% to Rs 213 crore in the last fiscal year from Rs 119 crore in FY23. The rest of the revenue came from food/beverages and other allied services which stood at Rs 33 crore and Rs 4 crore, respectively. Bloom also added Rs 8 crore primarily from the interest on deposits which pushed its overall revenue to Rs 258 crore in FY24. Currently, it has over 50 hotels located across Mumbai Pune, Udaipur, Jaipur, NCR et al. For the hospitality chain business, the cost of lease rent was the latest cost center, forming 31.5% of the overall cost. In the line of expansion, the cost grew 79% to Rs 77 crore in FY24. Notably, Bloom has entered into multiple operating lease agreements, with lease durations ranging from 5 to 44 years. These agreements encompass a mix of company-owned leased hotels and revenue-linked lease arrangements based on earnings from the leased premises. Its employee benefits and commissions to agents grew by 58% and 78% to Rs 60 crore and Rs 16 crore, respectively. Advertising, legal, and cost of food & beverages were other overheads, taking the total cost to Rs 244 crore in FY24 from Rs 144 crore in FY23. Check TheKredible for more details. The impressive scale and controlled cost boosted Bloom’s profits over two-fold to Rs 14 crore in FY24. Its ROCE and EBITDA margin improved to 6.25% and 10.08% respectively in the last fiscal year. Bloom has improved its expense-to-revenue ratio, reducing it to Rs 0.98 from Rs 1.00 in the previous fiscal year. Its total current assets stood at Rs 118 crore, including Rs 97 crore in cash and bank balances. Bloom Hotels has secured approximately Rs 362 crore (around $45 million) in funding from Samena Capital, which now holds a majority stake in the company. Its competitors Treebo Hotels and FabHotels reported operating revenue of Rs 88.6 crore and Rs 224 crore, respectively, in FY23. Both companies are yet to submit their annual reports for the last fiscal year (FY24).

Download the medial app to read full posts, comements and news.