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Zeta India's profits jump 5.4X to Rs 120 Cr on rising revenues and lower costs

YourStory

YourStory · 8m ago

Zeta India's profits jump 5.4X to Rs 120 Cr on rising revenues and lower costs

Better World Technologies Private Limited, the parent company of Zeta India, reported significant growth in profits for FY24. The company's profit after tax (PAT) rose by 5.4 times compared to the previous year, reaching Rs 119.82 crore. This growth was driven by a 9.42% increase in operations revenue, which amounted to Rs 893.12 crore in FY24. Meanwhile, total expenses decreased by 4.5%, thanks to cost-saving measures implemented across the board. Zeta is a banking technology company that provides digital infrastructure solutions for banks.

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Zoho posts Rs 2,800 Cr profit in FY23, revenue up by 30%

Entrackr

Entrackr · 1y ago

Zoho posts Rs 2,800 Cr profit in FY23, revenue up by 30%

Tech company Zoho, led by Sridhar Vembu, recorded a 30% increase in operating revenue, surpassing Rs 2,800 crore in profits. The revenue from operations grew to Rs 8,703.6 crore in FY23, and Zoho collected additional revenue through interest, gains, and other operational activities. North America accounted for the highest revenue, followed by Europe, Asia, and Latin America. Employee benefit expenses and advertising costs were significant expenditures. Despite rising expenses, Zoho's profits increased to Rs 2,836 crore in FY23.

With over 650K customers and Rs 61 Cr in GMV, DriveU is on path to profitability

YourStory

YourStory · 2y ago

With over 650K customers and Rs 61 Cr in GMV, DriveU is on path to profitability

DriveU, a private driver aggregator and car servicing platform, has achieved profitability by focusing on its car servicing segment. The company's strategy to prioritize car servicing over the driver aggregation business has resulted in improved financial performance. DriveU has successfully reduced costs and increased revenues by tapping into the growing demand for car servicing services, allowing it to attain profitability. On-demand driver and car servicing startup DriveU generated a revenue of Rs 61 crore in FY23, and aims to grow 2X at Rs 120 crore by next year.

Digit Insurance’s profit zooms 6X to Rs 338 Cr in FY23

Entrackr

Entrackr · 1y ago

Digit Insurance’s profit zooms 6X to Rs 338 Cr in FY23

Digit Insurance, an IPO-bound general insurance firm, witnessed significant growth in FY23 with a 52% increase in scale and over six-fold surge in profits. The company's revenues from operations rose to Rs 5,164 crore, driven by premium earnings from insurance policies and interest from investments. Claims settled to policyholders accounted for 59% of costs, while expenses for branding and other overheads also increased. Despite fierce competition, Digit Insurance's success story positions it well for the future, especially as it expands into the health insurance segment.

Zeta India crosses Rs 800 Cr revenue in FY23, turns profitable

Entrackr

Entrackr · 1y ago

Zeta India crosses Rs 800 Cr revenue in FY23, turns profitable

Zeta India, a banking tech firm, reported revenue growth of 32.7% to Rs 816 crore in FY23, turning profitable in the same period. However, it did not match the growth levels of the previous fiscal year. The company offers financial services to institutions and generated 76% of its income from outside India. Employee benefits accounted for the majority of expenses, but cost control measures helped the company post a profit of Rs 22 crore in FY23. Zeta became a unicorn in May 2021 after raising funds from SoftBank and Mastercard.

Delhivery profit surges over 2X to Rs 25 Cr in Q3 FY25

Entrackr

Entrackr · 5m ago

Delhivery profit surges over 2X to Rs 25 Cr in Q3 FY25

Delhivery’s revenue from operations grew to Rs 2,378 crore in Q3 FY25, according to its financial statements filed with the National Stock Exchange. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 99 crore from non-operating activities, bringing its total revenue to Rs 2,477 crore in Q3 FY25. For Delhivery, freight handling and servicing costs made up 71% of its total expenditure, rising by 11.3% to Rs 1,750.7 crore in Q3 FY25. Employee benefit expenses remained steady at Rs 356.2 crore. Legal, depreciation, and other overhead costs contributed to a 7% increase in overall expenditure, which reached Rs 2,450 crore during the quarter. Delhivery's continued growth and controlled expenditure resulted in a more than twofold increase in its profits, reaching Rs 25 crore in Q3 FY25, compared to Rs 11.7 crore in Q3 FY24. Notably, Delhivery has generated Rs 6,740 crore in revenue during the first nine months of the current fiscal year, achieving a positive bottom line of Rs 89.5 crore. Delhivery has recently ventured into the quick commerce segment with a two-hour delivery service to cater to the rising consumer demand for faster order fulfillment. Initially launched in Bengaluru, the service will support brands across categories such as beauty and personal care, fashion, and electronics.

Ixigo posts Rs 242 Cr revenue Q3 FY25; PBT jumps 54%

Entrackr

Entrackr · 5m ago

Ixigo posts Rs 242 Cr revenue Q3 FY25; PBT jumps 54%

Ixigo released its financial results for the third quarter of the ongoing fiscal year (Q3 FY25) on Tuesday. The company reported a 41% growth in scale, while its year-on-year (YoY) profits declined by 49.3%. Ixigo’s revenue from operations surged 41.5% to Rs 242 crore in Q3 FY25 in contrast to Rs 171 crore in Q3 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. The company generated the majority (49.6%) of its operating revenue from train ticketing which increased to Rs 120 crore in Q3 FY25 from Rs 95 crore in Q3 FY24. Flight and bus booking services contributed 28% and 21.4% respectively. Besides operating revenue, the firm also earned Rs 5.2 crore via interest and gains from financial assets during the quarter, taking its total topline to Rs 247 crore in Q3 FY25. Ixigo’s gross transaction value (GTV) increased 48% year-on-year to Rs 4,036 crore during the third quarter of the ongoing fiscal year. Employee benefits expenses rose by 17% YoY to Rs 41 crore. Overall, the company's total costs grew 42.7% to Rs 224 crore in Q3 FY25 compared to Rs 157 crore in Q3 FY24. Ixigo's net profits dropped by 49.3% to Rs 15.5 crore in Q3 FY25 from Rs 30.6 crore in Q3 FY24, attributed to a deferred tax income of Rs 16.7 crore booked in Q3 FY24. On a PBT basis, profits showed a significant QoQ increase of 54% to Rs 21.4 crore in Q3 FY25 from Rs 13.9 crore in Q3 FY24. Ixigo is currently trading at Rs 127.7 with a total market capitalization of Rs 4,886 crore or $581 million.

Razorpay’s FY24 Profit Jumps 4.5X To INR 34 Cr

Inc42 · 8m ago

Razorpay’s FY24 Profit Jumps 4.5X To INR 34 Cr

Bengaluru-based fintech unicorn Razorpay saw a significant increase in profits, with a 365% jump from INR 7.2 Cr to INR 33.5 Cr in the financial year ending on March 31, 2024. The startup's operating revenue also increased by 9% to INR 2,475 Cr, contributing to its rise in profits. This growth can be attributed to their success in the fintech sector.

Groww pays $160 mn in tax for US to India domicile shift

The Arc Web

The Arc Web · 9m ago

Groww pays $160 mn in tax for US to India domicile shift

Investment platform Groww paid Rs 1,340 crore ($160 million) in taxes while shifting its domicile from USA to India in FY24, representing 5.33% of its $3 billion valuation. The company managed to reduce its tax liability by demonstrating lower valuations compared to similar companies. This contrasts with PhonePe, which paid $1 billion in taxes (18% of valuation) when moving from Singapore to India. Despite the one-time tax expense causing a net loss of Rs 805 crore, Groww's operating profits increased by 17% to Rs 535 crore, with total revenues up 119% to Rs 3,145 crore in FY24.

Lendingkart posts Rs 118 Cr profit after tax in FY23

Entrackr

Entrackr · 1y ago

Lendingkart posts Rs 118 Cr profit after tax in FY23

Lendingkart, the MSME-focused digital lending platform, reported its first-ever profits of INR 118 crore in the fiscal year ending March 2023. The firm's revenues grew by 29.5% to INR 798 crore in FY23, with interest received from loans forming 51% of its operating revenue. Lendingkart's expense breakdown included a flat finance cost of INR 250 crore, while employee benefit costs increased by 57%. The company's deep cost-cutting measures resulted in a notable profit in FY23, compared to a loss in the previous fiscal year.

Gameberry ends FY23 with Rs 314 Cr revenue and Rs 37 Cr profit

Entrackr

Entrackr · 1y ago

Gameberry ends FY23 with Rs 314 Cr revenue and Rs 37 Cr profit

Gaming publisher Gameberry recorded a 21.2% increase in revenue, reaching Rs 314 crore in FY23. However, the company's profit decreased by 65% due to higher employee benefit and advertising costs. Gameberry's primary revenue came from in-app sales, which grew by 29%, while advertising income remained stagnant. The company also generated 99.8% of its operating revenue from outside India. Expenses rose by 95.8% to Rs 278 crore, resulting in a decline in profits. Gameberry's EBITDA margin weakened to 15.71%.

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