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Zepto earns 2024 cr and loses 1272 cr this year
Economic Times
·
1y ago
Medial
Zepto, India's first unicorn of 2023, reported a substantial increase in revenue for FY23, reaching Rs 2,024 crore, compared to Rs 142.4 crore in the previous year. However, the company incurred a loss of Rs 1,272 crore, three times larger than the Rs 390.4 crore loss in the prior year. Zepto aims to achieve EBITDA breakeven within 10 months while continuing growth. The expansion into new territories drove their revenue growth. Zepto competes in the quick commerce sector against Swiggy Instamart, BlinkIt (Zomato-owned), and BBNow (BigBasket).
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Razorpay’s FY23 Operating Revenue Crosses INR 2,000 Cr Mark
Inc42
·
1y ago
Medial
Bengaluru-based fintech unicorn Razorpay has reported a consolidated operating revenue of INR 2,279.3 Cr (approx. $306 million) in the financial year 2022-23, a 54% increase from the previous fiscal year. The startup, valued at over $7 billion, primarily earns revenue through payment commission fees and also offers software development and maintenance services. Despite a slight dip in net profit, Razorpay's total income for FY23 stood at INR 2,293.3 Cr. The company's expenditure increased by 55%, primarily driven by employee expenses and hosting charges. Razorpay is planning to relocate its base to India by the end of 2024 and is eyeing an IPO in the next two years.
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2 college dropouts with ₹30,000-cr startup only possible in India: Zepto CEO
Inshorts
·
1y ago
Medial
Zepto CEO Aadit Palicha posted on X, "2 kids dropping out of college and starting a company worth ₹30,000 crore in just 3 years is only possible in one country in 2024: India." His post came after Zepto raised $665 million at a $3.6 billion valuation. Stanford dropouts Aadit Palicha and Kaivalya Vohra started Zepto at the age of 19.
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upGrad’s revenue spikes 2X to Rs 1,194 Cr in FY23, loses 500 Cr+
Entrackr
·
1y ago
Medial
Edtech unicorn upGrad experienced a significant rise in revenue, with a 96% increase during the fiscal year ending in March 2023. The company's revenue reached Rs 1,194 crore, compared to Rs 608 crore the previous year. The primary sources of revenue for upGrad are online programs offered to students and commissions from universities. Despite the growth in revenue, the company managed to keep its bottom line flat through effective cost management. Employee benefits accounted for 40% of the overall expenditure, while advertising and promotion costs decreased by 8.2%. upGrad aims to be operationally profitable in the upcoming financial year.
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Purplle’s FY23 sales inch closer to INR 500 Cr mark, loss widens to INR 230 Cr
Inc42
·
1y ago
Medial
Beauty ecommerce marketplace Purplle saw a significant increase in its operating revenue, reaching INR 474.9 crore in FY23, up by 116% from FY22. However, the startup's net loss also grew by 13% to INR 230 crore during the same period. The company's EBITDA margin improved to -41.56% from -84.9% in the previous fiscal year. Purplle earns revenue through product sales, advertising, and other sources, with revenue from the sale of its products accounting for 51% of its operating revenue.
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Zepto improves quick-commerce market share; Instamart loses ground: HSBC report
Economic Times
·
1y ago
Medial
According to a report from HSBC Global Research, Zepto has been steadily gaining market share in the quick-commerce industry, while Swiggy Instamart has been losing ground. Zepto's market share rose from 15% in March 2022 to 28% in January 2024, while Instamart's share fell from 52% to 32% during the same period. The market leader, Blinkit, saw its share rise from 32% to 40%. The report also highlights the potential of quick-commerce platforms to capture advertising earnings, with grocery categories offering more favorable terms compared to other ecommerce platforms.
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Bombay Shaving Company’s Loss Nearly Doubles To INR 80 Cr In FY23
Inc42
·
1y ago
Medial
Delhi NCR-based grooming and personal care company Bombay Shaving Company experienced a significant increase in net loss during the financial year ending March 2023. The startup's net loss amounted to INR 80.2 crores, rising by 85% compared to the previous fiscal year. However, the company's operating revenue reached INR 177.3 crores, representing a 69% increase from the previous year. Bombay Shaving Company primarily earns revenue through online and offline sales. It recently raised INR 24 crores in debt funding to expand its offline presence to more cities.
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Oyo posts Rs 5,464 Cr income in FY23, loses 1287 Cr
Entrackr
·
1y ago
Medial
Oyo reported a revenue of Rs 5,464 crore in FY23, growing at a rate of 14.3% compared to the previous fiscal year. The company has narrowed down its losses by 33.7% to Rs 1,287 crore. A significant portion of Oyo's revenue (75%) comes from outside India, while domestic income accounts for 25%. The firm aims to achieve its first-ever profit in the second quarter of FY24. Oyo has raised over $3.4 billion in funding and its largest stakeholder is SoftBank with a 42.62% stake.
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Giva earns Rs 165 Cr revenue, loses 45 Cr in FY23
Entrackr
·
1y ago
Medial
Jewellery startup GIVA reported a revenue of Rs 165 crore in FY23, a significant increase from Rs 84 crore in FY22. Despite the growth in revenue, the company's losses also increased, resulting in a 2.4X surge from FY22 to reach Rs 45 crore in FY23. GIVA's expenses, particularly in marketing and employee benefits, played a role in the increased losses. The company faces challenges in attracting customers, particularly in the affordable jewellery segment. The upcoming fiscal year will determine if GIVA can find a sustainable path to recovery.
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WheelsEye earns Rs 208 Cr revenue in FY23; loses Rs 96 Cr
Entrackr
·
1y ago
Medial
Logistics SaaS startup WheelsEye recorded operating revenues of Rs 208 crore in FY23, a growth of 32.5% compared to the previous fiscal year. The company offers GPS tracking hardware, FASTag, and data analytics solutions to trucking operators and logistics businesses. Subscription services accounted for 52% of the operating revenue, while the remaining revenue came from the sale of FASTags, GPS-tracking hardware, and commissions. Despite controlling expenditure and reducing losses, WheelsEye posted a loss of Rs 96 crore in FY23.
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Wakefit earns Rs 813 Cr revenue in FY23; loses Rs. 150 Cr
Entrackr
·
1y ago
Medial
Sleep solutions company Wakefit achieved over Rs 800 crore in revenue in the fiscal year ending March 2023. However, the company's losses surpassed its revenue growth, reaching close to Rs 150 crore. Wakefit primarily sells mattresses and pillows, which accounted for 75% of its total revenue. The cost of procuring and manufacturing home solutions was the largest expense for the company. Despite beating industry growth rates, Wakefit is currently the only major player at scale that is making losses.
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