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

EntrackrEntrackr · 2h ago
WheelsEye posts Rs 243 Cr revenue in FY25; losses remains flat
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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.

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Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%

EntrackrEntrackr · 5m ago
Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%
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Fintrackr All Stories Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14% Cashfree struggled with growth in FY25, even after the Reserve Bank of India removed merchant onboarding restrictions for leading companies. State Bank of India-backed Cashfree is no exception, as the firm’s operating scale remained flat in FY25. Cashfree reported an operating revenue of Rs 640 crore in FY25 against Rs 643 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. The company claims to enable large businesses to process 12,000 transactions per second during peak demand. The revenue breakup for FY25 shows payment gateway commissions accounted for 75% of the operating revenue at Rs 481 crore. Payout commissions added another Rs 55 crore, while commission income from other services contributed the rest Rs 103 crore. With other income of around Rs 1 crore, the Bengaluru-based company posted a total income of Rs 641 crore in the last fiscal year. On the expense side, payment gateway processing cost accounted for 53% of the total expense, decreasing by 2% to Rs 419 crore in FY25 from Rs 427 crore in FY24. The company’s other key expense items include employee benefits, marketing, and technology investments. Its marketing expenses notably surged 150% to Rs 20 crore in FY25. The firm’s employee benefits costs remained flat at Rs 243 crore in FY25 compared to Rs 245 crore in FY24. Depreciation, finance cost and other overheads added another Rs 80 crore to the rising expenses. In the end, Cashfree’s total costs increased 2% to Rs 795 crore from Rs 779 crore last year. Although top-line performance remained stable, the company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal. Its EBITDA loss increased to Rs 132 crore, pushing the EBITDA margin down to -20.63% from -17.42% the previous year. In the coming year, Cashfree is expected to reduce its marketing expenses to lower losses and strengthen its financial position in FY26. The ban on real money gaming platforms is also expected to affect the business of payments firms including Cashfree significantly in the ongoing fiscal year. Ahead of FY26, Cashfree raised $53 million in a round led by Krafton, marking its first funding in nearly four years. Overall, the company has raised $95 million from investors including Y Combinator, Smilegate Investments, and the State Bank of India.

WheelsEye narrows losses by 71% to Rs 39 Cr in FY24

EntrackrEntrackr · 1y ago
WheelsEye narrows losses by 71% to Rs 39 Cr in FY24
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WheelsEye narrows losses by 71% to Rs 39 Cr in FY24 Logistics SaaS firm WheelsEye experienced slower growth since FY22, with revenue growth flattening in FY24. The company reported a marginal 7% increase in revenue for the fiscal year ending March 2024 but successfully reduced its losses by 71% during the same period. WheelsEye’s revenue from operations grew to Rs 218.4 crore in the last fiscal year, from Rs 203.8 crore in FY23, according to its standalone financial statement sourced from the Registrar of Companies (RoC). WheelsEye provides trucking solutions for businesses and software, GPS tracking, and FASTag solutions for truck fleet operators. Revenue from the sale of services (trucking service) increased by 18.9% to Rs 129.6 crore, while revenue from the sale of products (software) grew by 7.85% to Rs 57.7 crore. Income from other sources added another Rs 31 crore. The company made an additional Rs 35 crore from interest income which pushed its total Income to Rs 253 crore in FY24. WheelsEye's largest cost component, employee benefit expenses, dropped by 28.72% to Rs 135 crore. The cost of materials increased slightly by 3.43% to Rs 93.6 crore, while commissions paid decreased by 9.64%, standing at Rs 7.5 crore. Miscellaneous expenses for the last fiscal year amounted to Rs 56.9 crore. In the end, WheelsEye managed to reduce its overall expenses by 17.23%, bringing them down to Rs 293 crore in FY24. This cost optimization contributed to a 71% reduction in net loss, with losses narrowing to Rs 39 crore in FY24. The company also reported improved financial ratios, with its ROCE improving to -44.85% and EBITDA margin rising to -13.76%. Cost efficiency improved as well, with the company spending Rs 1.34 to earn a rupee in FY24. On the asset side, WheelsEye recorded Rs 186 crore in current assets for FY24, which included Rs 142 crore in cash and bank balances. According to the startup data intelligence platform, TheKredible, Wheelseye's parent entity is situated in the USA holding 99.9% of the Indian entity with the name Wheelseye Technology INC. The reduction in losses would be a welcome development at WheelsEye, probably something that has caused the slowdown in growth as well. The effort indicates a push to seek public market access perhaps, even as the firm remains well placed to seek growth again soon. In the past year, seemingly improving efficiency in logistics has led to a slowdown in growth within many firms in the category, something that should correct soon for WheelsEye as well.

Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25

EntrackrEntrackr · 2m ago
Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25
Medial

Fintrackr All Stories Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25 Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period. Mukul Manchanda 15 Dec 2025 16:06 IST Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period, as the company gears up for an initial public offering (IPO). Cult.fit reported an operating revenue of Rs 1,215.5 crore in FY25 compared to Rs 926.6 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Revenue from fitness subscriptions, including flagship offerings such as Cultpass, Cult.fit centres, and platform services, accounted for 73% of total revenue which increased by 32.7% year-on-year to Rs 889 crore in FY25. The sale of products, including sportswear for men and women as well as other gym and fitness products, contributed Rs 326.4 crore to total revenue, with the segment’s revenue rising 27% compared to FY24. Cult.fit also earned Rs 56.5 crore from other income, including interest on current investments and miscellaneous non-operating sources, taking its total revenue to Rs 1,272 crore in FY25. Coming to expenses, employee benefit costs remained largely flat at Rs 347.4 crore in the last fiscal, including Rs 99.5 crore ESOP expenses. Meanwhile, Cult.fit’s cost of materials rose 31% year-on-year to Rs 521.5 crore in FY25, accounting for nearly 30% of the company’s overall expenses and remaining its largest cost centre. Spending on advertising and promotional expenses remained flat at Rs 202.9 crore in FY25, while depreciation and amortisation costs increased 12% year-on-year to Rs 237.6 crore. Legal and professional expenses, along with finance costs, added another Rs 120.9 crore and Rs 109.5 crore, respectively, to the company’s total expenses. Information technology, travel and other miscellaneous expenses pushed overall costs up by 12% year-on-year to Rs 1,751.6 crore in FY25. In the end, the Bengaluru-based firm’s losses declined by 10% to Rs 480.8 crore in FY25. Its ROCE and EBITDA margins stood at -24.02% and -15.54% respectively whereas its EBITDA (loss) stands at Rs 189 crore in the period. Cult.fit managed to improve its expense-to-earning ratio to Rs 1.44 in the previous fiscal. Its current assets stood at Rs 1,029.5 crore with a cash and bank balance of Rs 240.7 crore in FY25. According to startup data intelligence platform TheKredible, Cult.fit has raised over $675 million to date from investors including Accel, Temasek, Eternal (Zomato), Tata Digital and several others. The Tata Digital-backed company is reportedly aiming to raise Rs 2,500 crore through an initial public offering (IPO) at a valuation of around $2 billion, and has appointed Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley and JM Financial as its bankers.

Healthians posts Rs 263 Cr revenue in FY25; nears breakeven

EntrackrEntrackr · 3m ago
Healthians posts Rs 263 Cr revenue in FY25; nears breakeven
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Healthians posts Rs 263 Cr revenue in FY25; nears breakeven Healthians didn't manage notable growth in the fiscal year ending March 2025. However, the WestBridge-backed company narrowed its losses by 89% year on year and neared break-even during the same period. The firm’s operating revenue increased 8% year-on-year to Rs 263 crore in FY25, up from Rs 243 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Including non-operating income of Rs 7 crore, the company’s total income grew 7% to Rs 270 crore during the year. Cost optimisation played a key role in supporting the company’s financial recovery. Total expenses declined 8% to Rs 275 crore in FY25, compared to Rs 298 crore last year. Among the major cost heads, employee benefits, the largest expense category, dropped 13% year-on-year to Rs 104 crore in FY25 from Rs 120 crore in FY24. Cost of materials contracted 7% to Rs 54 crore. Advertising costs rose 10% to Rs 43 crore. Meanwhile, depreciation and finance costs remained stable at Rs 29 crore and Rs 15 crore, respectively. The improvement in revenue and control of key expenses helped Healthians bring down its losses sharply by 89% to Rs 5 crore in FY25 from Rs 45 crore in FY24. The firm posted positive EBITDA of Rs 32 crore in FY25 with EBITDA margin of 12.17%. Its ROCE stood at 2.73% in the same period. On a unit basis, the company spent Rs 1.05 to earn a rupee of operating revenue in FY25. The firm’s current assets increased slightly to Rs 170 crore including cash and bank balances worth Rs 49 crore in the fiscal. According to startup data intelligence platform TheKredible, Healthians has raised a total of $75 million of funding till date, having WestBridge, BEENEXT, DG Ventures and Youwecan as its lead investors. The company’s founder and CEO, Deepak Sahni owns 6.5% of the company.

FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable

EntrackrEntrackr · 2m ago
FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable
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FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable FreshToHome, a D2C meat and seafood brand, recorded a marginal improvement in its financial performance in the fiscal year ending March 2025. The company managed to grow its scale while keeping its loss stable in the period. FreshToHome’s gross revenue increased 14% to Rs 421 crore in FY25 from Rs 369.5 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The company primarily generates its revenue from the sale of meat, seafood and other fresh produce across its platform. Including non-operating income of Rs 9 crore, its total income stood at Rs 430 crore in FY25. The cost of material consumed remained the largest expense element for the Bengaluru-based company, forming over 83% of total expenditure. This cost grew 5% to Rs 481 crore in FY25 from Rs 458 crore in FY24. Employee benefit costs increased 10% to Rs 33 crore, while advertising and promotional expenses declined 37% to Rs 14.5 crore during the year. Subscription costs remained flat at Rs 8 crore. Other overheads more than doubled to Rs 33.5 crore in FY25. Overall, FreshToHome’s total expenditure went up by 6% to Rs 576 crore in FY25 from Rs 542 crore in FY24. At the bottom line, FreshToHome reported a net loss of Rs 146 crore in FY25, compared to Rs 150 crore in FY24, representing a modest 2.7% reduction in losses. Its ROCE and EBITDA margin stood at -107.64% and -36.58% respectively. On a unit level, the company spent Rs 1.37 to earn a rupee, improving from Rs 1.47 it spent in FY24. The firm recorded cash and bank balances of Rs 42 crore, while its current assets were valued at Rs 73.5 crore at the end of FY25. According to TheKredible, FreshToHome has raised over $320 million of funding to date. In the last round, FreshToHome raised $104 million in its Series D funding, led by Amazon Smbhav Venture Fund.

Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95%

EntrackrEntrackr · 8m ago
Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95%
Medial

Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95% Cloud kitchen brand Curefoods has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The move follows the company’s FY25 financial performance, where it reported a revenue of Rs 746 crore and a loss of Rs 170 crore, according to its balance sheet. Curefoods' operating revenue increased by 28% to Rs 746 crore in FY25 from Rs 585 crore in FY24, while its losses remained flat in the last fiscal year. Curefoods operates a multi-brand cloud kitchen business across categories like Indian meals, pizza, desserts, and health-focused food. In FY25, desserts led revenue with Rs 196 crore, followed by pizza (Rs 183 crore), Indian meals (Rs 178 crore), and healthy meals (Rs 176 crore). While desserts and pizza grew 18% and 95% YoY, respectively, the healthy segment declined by 13%. The Bengaluru-based company added Rs 29 crore from interest on financial assets which pushed its total income to Rs 775 crore in FY25. On the expense side, the cost of materials accounted for the largest share at Rs 273 crore, followed by employee benefit expenses at Rs 180 crore and commissions at Rs 137 crore. Advertising costs jumped significantly by over 64% to Rs 87 crore. Overall, the company’s total expenditure stood at Rs 944 crore in FY25, rising by 17% from Rs 807 crore in FY24. Despite the revenue growth, Curefoods’ loss remained flat at Rs 170 crore in FY25 from Rs 173 crore in FY24. Its ROCE and EBITDA margin stood at -19% and -7.5%, respectively. On a unit level, the company spent Rs 1.27 to earn a rupee of operating revenue in FY25. As of March 2025, the Ankit Nagori-led company had current assets worth Rs 339 crore in FY25, including Rs 80 crore in cash and bank balances. Curefoods’ founder Nagori is entitled to an annual fixed remuneration of Rs 3 crore (inclusive of perquisites and retirement benefits) and an annual variable bonus of up to 20% of his remuneration. Curefoods’ operational performance improved in FY25, with average daily sales rising to Rs 2 crore from Rs 1.5 crore in FY24, amid strong consumer demand across its brands. Among its 10 key brands, Sharief Bhai, EatFit, and CakeZone led revenue with Rs 148 crore, Rs 145 crore, and Rs 102 crore, respectively. The company also added new revenue streams through the launch of Krispy Kreme operations in South, West, and North India, with Rs 15 crore in revenue in FY25 after acquiring the franchise rights. The improving numbers certainly indicate a level of maturity for the business, prompting the move to go public as well. However, risks remain, particularly in the performance of the ‘Healthy Foods’ segment and now, the Krispy Kreme franchise, which has not quite delivered in India, and continues to face a tough challenge to crack the local market. Curefoods and its multi-brand approach remains to be tested, especially with profits still distant, and H1 of FY26 will probably be a good time to evaluate if the firm has discovered a path to profitability.

Indiqube posts Rs 390 Cr revenue in Q3 FY26; losses rise 21%

EntrackrEntrackr · 1m ago
Indiqube posts Rs 390 Cr revenue in Q3 FY26; losses rise 21%
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Indiqube posts Rs 390 Cr revenue in Q3 FY26; losses rise 21% Managed workspace solutions provider Indiqube has posted its financial results for the third quarter of the ongoing fiscal year (FY26). The company’s operating scale grew 45.5% in the period while its losses grew 21% year-on-year, as per Ind AS. Indiqube’s revenue from operations rose to Rs 390 crore in Q3 FY26 from Rs 268 crore in Q3 FY25, according to its financial statement sourced from the National Stock Exchange (NSE). IndiQube also reported Rs 21 crore revenue from non-operating sources which took its total income to Rs 411 crore in Q3 FY26. For the nine months period, the Bengaluru-based company’s revenue grew 38% to Rs 1,049 crore as compared to Rs 762 crore a year earlier. On the expense side, employee benefits increased 34% to Rs 23.5 crore in Q3 FY26. Finance cost accounted for 26% of the expense which increased 30% to Rs 112 crore in Q3 FY26 from Rs 86 crore in Q3 FY25, while depreciation and amortization rose to Rs 144 crore. Overall, Indiqube’s total expenses for the quarter increased 39% to Rs 434 crore from Rs 313 crore in Q3 FY25. At the end, the firm reported a 21% increase in its losses to Rs 17 crore in Q3 FY26 as compared to Rs 14 crore in Q3 FY25. On a quarterly basis, Indiqube’s losses decreased from Rs 30 crore in Q2 FY26. At the end of today’s trading session, Indiqube’s share price stood at Rs 177, giving it a total market capitalization of Rs 3,751 crore (about $414 million). Overall, Indiqube continued to scale its operations in Q3 FY26 with strong revenue growth, though costs rose alongside expansion. Losses widened year-on-year but improved sequentially. The firm remains focused on growth while managing expenses amid rising finance and depreciation costs.

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat

EntrackrEntrackr · 7m ago
Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat
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Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat Ather Energy reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm also narrowed losses by 3%. Electric two-wheeler maker Ather Energy has announced its financial results for the first quarter of the ongoing financial year FY26. The company reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm narrowed losses by 3%. Ather’s revenue from operations increased by 79% to Rs 645 crore in Q1 FY26, from Rs 360 crore in Q1 FY25, according to its quarterly report sourced from the National Stock Exchange (NSE). The Tarun Mehta-led company did not provide a revenue breakdown during the last quarter. Ather’s cost of materials, primarily driven by battery and component procurement, made up the largest share of its expenditure. This cost increased by nearly 74% to Rs 518 crore in Q1 FY26 from Rs 297 crore in the same period last year, accounting for over 61% of the total expenses during the quarter. Employee benefit expenses saw a surge of 37% YoY to Rs 119 crore in Q1 FY26 compared to Rs 87 crore in Q1 FY25. Depreciation and amortization costs rose 20% to Rs 48 crore, while other operational costs jumped nearly 31% to Rs 166 crore. Overall, Ather’s total expenditure grew 54% to Rs 851 crore in Q1 FY26, up from Rs 551 crore in Q1 FY25. As a result, the company’s net losses reduced by 3% to Rs 178 crore in Q1 FY26 from Rs 183 crore in Q1 FY25. In July 2025, Ather Energy maintained its fourth-place market position, selling 16,231 units. This represents a 10.59% month-on-month increase from the 14,677 units sold in June, bringing their market share to 15.78%. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE. However, the stock is currently trading at Rs 375, bringing its total market capitalization to Rs 13,723 crore ($1.5 billion). Ather competitor Ola Electric’s topline shrank by nearly 50% year-on-year during the first quarter of FY26. At the same time, the Bengaluru-based firm’s losses widened by 23%.

Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 2m ago
Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses
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Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses Online financial marketplace BankBazaar reported a 33% year-on-year increase in revenue for the fiscal year ended March 2025, while also reducing losses during the same period. BankBazaar’s operating revenue grew to Rs 249 crore in FY25 from Rs 187 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). BankBazaar is a co-branded credit card issuer which lets you check your credit score and cross-sells third-party loans as well as other insurance products. The commission earned from the banks on the disbursal of loans was the sole source of revenue for the firm. Including non-operating income of Rs 5 crore, BankBazaar’s total income stood at Rs 254 crore during FY25 from Rs 188 crore in the previous fiscal. In a media interview last year, BankBazaar CEO Adil Shetty said the company earned about Rs 210 crore in recurring revenue from co-branded credit card distribution and had refocused on credit card distribution and a subscription business for credit health monitoring. The financial statements of BankBazaar have not given a detailed breakdown of the expenses, as the company recorded Rs 165 crore under operating expenses, which makes 59% of the total expenses. This cost rose 65% to Rs 165 crore in FY25 from Rs 100 crore in FY24. Employee benefit expenses declined 8% to Rs 61 crore, while advertising spend remained flat at Rs 14 crore. Finance cost rose 40% to Rs 14 crore. Overall, total costs increased 29% to Rs 278 crore in FY25 from Rs 215 crore in FY24. BankBazar’s net loss decreased by 13% to Rs 23 crore in FY25 from Rs 26.5 crore in FY24. Its ROCE and EBITDA margin stood at -9.86% and -4.42%, respectively. On a unit level, BankBazaar spent Rs 1.12 to earn a rupee of operating revenue during FY25. The company’s current assets stood at Rs 140 crore including Rs 11 crore as cash and bank balances, during FY25. According to TheKredible, BankBazaar has raised a total of $133 million of funding to date, having Peak XV, Amazon and Walden International as its lead investors.

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