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ZingHR turns profitable in FY25, revenue grows 21%

EntrackrEntrackr · 1d ago
ZingHR turns profitable in FY25, revenue grows 21%
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ZingHR turns profitable in FY25, revenue grows 21% Cloud-based HRtech firm ZingHR has continued its growth momentum and achieved profitability in FY25 from a loss of Rs 7 crore in the previous fiscal year. ZingHR’s revenue from operations grew 21% to Rs 150 crore in FY25 from Rs 124 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). ZingHR offers staffing and talent acquisition services across various sectors, including BFSI, retail, and IT. The company generates its revenue exclusively from the sale of subscription-based software. Zing HR’s employee benefits remained the largest cost component, accounting for 53% of total expenses. To the tune of scale, this cost remained stable at Rs 80 crore in FY25 as compared to Rs 81 crore in FY24. Among other major expenses, server and data security charges rose 42% to Rs 17 crore, while legal and professional fees nearly doubled to Rs 17 crore. Product maintenance charges grew 22% to Rs 11 crore, and rent expenses increased by 33% to Rs 4 crore. Overall, the company’s total expense rose 13% to Rs 150 crore in FY25 from Rs 133 crore in FY24. With the help of revenue growth, the company managed to achieve profitability. ZingHR posted a profit of Rs 1 crore in FY25 in contrast to a loss of Rs 7 crore in FY24. Its ROCE and EBITDA margin improved to 1.21% and 0.80% respectively. On a unit basis, ZingHR spent Re 1 to earn a rupee of revenue during the year, an improvement from Rs 1.07 in FY24. The company’s total assets grew to Rs 80 crore in FY25, from Rs 71 crore in the preceding year, while its current assets were valued at Rs 58 crore. Cash and bank balances stood at Rs 8 crore as of March 2025. ZingHR has raised $14 million in funding to date, with Tata Capital as its lead investor, holding a 35.82% stake. Competing in the same space as ZingHR, Darwinbox’s total revenue grew to Rs 534 crore in FY25 from Rs 334 crore in FY24 as 63% of the company’s revenue comes from international markets. The company’s adjusted net loss improved by 7% over FY24 in the same period.

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Amazon-backed M1xchange turns profitable in FY25; revenue grows 80%

EntrackrEntrackr · 1m ago
Amazon-backed M1xchange turns profitable in FY25; revenue grows 80%
Medial

M1xchange, the Amazon-backed digital invoice discounting marketplace, staged a remarkable turnaround in FY25 by swinging to profitability after ending the previous year in losses. The company reported a net profit of Rs 12 crore in FY25, compared to a loss of Rs 4 crore in FY24. Founded in 2016, M1xchange TReDS is a digital marketplace to sell receivables to banks/NBFCs set up under the approval of the Reserve Bank of India (RBI) to facilitate the discounting of invoices and bills of exchange on a PAN India basis. The revival was powered by strong revenue growth. The company’s operating revenue for the year grew 80.5% to Rs 102 crore from Rs 56.5 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). The bulk of the revenue came from transaction and commission charges, which surged to Rs 93 crore, accounting for more than 91% of the topline. Software development and maintenance fees added another Rs 2.3 crore, while other operating income nearly doubled to Rs 6.7 crore during the period. From a cost perspective, employee benefits were the largest contributor, making up around 70% of overall spend. To the tune of scale, this cost rose 49% to Rs 64 crore in FY25 from Rs 43 crore in FY24, while legal and professional charges grew 40% to Rs 7.4 crore. Overall, M1xchange’s total expenses rose to Rs 91 crore in FY25, a 44% increase from Rs 63 crore in FY24. Despite the heavier expense load, the sharp rise in revenues ensured that M1xchange closed the year at Rs 12 crore profit. The company’s ROCE and EBITDA margin stood at 13.59% and 17.65% respectively. The Gurugram-based company reported current assets worth Rs 95 crore in FY25, including Rs 48 crore in cash and bank balances. While profits with scale are bound to follow for a bill discounting platform, the numbers should improve further as employee costs should also stabilise. According to TheKredible, M1xchange has raised a total of $56 million of funding to date, having Amazon, SIDBI, Beenext, Mayfield, and IndiaMart as its lead investors. The company’s founder and CEO, Sundeep Mohindru, owns 31% of the company.

Capillary Technologies turns profitable in FY25

EntrackrEntrackr · 4m ago
Capillary Technologies turns profitable in FY25
Medial

Capillary Technologies turns profitable in FY25 Customer loyalty and engagement solutions provider Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with SEBI as it gears up for a public listing. The document offers a detailed view into the company’s financials, revealing a sharp turnaround in FY25. Capillary Technologies’ operating revenue rose 14% to Rs 598 crore in FY25, compared to Rs 525 crore in FY24, as per data disclosed in the DRHP. Capillary Technologies follows a B2B SaaS model, earning revenue through subscriptions and services for its loyalty and customer engagement platform used by global brands to enhance retention and personalization. Most of the company’s revenue is through subscription-based software services, which contributed over 80% of the total, growing nearly 20% year-on-year to reach Rs 481 crore in FY25, from Rs 402 crore in FY24. The remaining Rs 117 crore came from other streams such as services and integration-linked fees. From a regional perspective, North America emerged as Capillary’s largest revenue contributor, accounting for 56.6% of the total revenue in FY25, up from 48% in the previous fiscal. EMEA (Europe, Middle East, and Africa) made up 19%, while Asia-Pacific’s share declined to 24% from 33% in FY24. While a detailed expense breakdown isn’t disclosed, the company’s return to profitability suggests improvements in cost structure and stronger monetization of its offerings. The company posted a net profit of Rs 14 crore in FY25, a significant improvement from the Rs 68 crore loss in FY24. Meanwhile, its EBITDA stood at Rs 78.5 crore in FY25, with a margin of 13%. As Capillary moves closer to its IPO, the shift to profitability will likely be a key narrative for investors looking at the company’s long-term potential and scalability.

ZingHR crosses Rs 120 Cr revenue mark in FY24, cuts losses by 67%

EntrackrEntrackr · 7m ago
ZingHR crosses Rs 120 Cr revenue mark in FY24, cuts losses by 67%
Medial

ZingHR crosses Rs 120 Cr revenue mark in FY24, cuts losses by 67% Cloud-based HRtech firm ZingHR sustained its growth streak in the last fiscal year, with revenue from operations surging over 47%, crossing the Rs 120 crore mark. Simultaneously, the Mumbai-based company reduced its losses by two-thirds during the same period. According to its consolidated financial statement sourced from the Registrar of Companies (RoC), ZingHR's revenue from operations climbed to Rs 124 crore in FY24 from Rs 84 crore in FY23. ZingHR offers staffing and talent acquisition services across various sectors, including BFSI, retail, and IT. The company generates its revenue exclusively from the sale of subscription-based software. Similar to other recruiting and allied service platforms, Zing HR’s employee benefits remained the largest cost component, accounting for 61% of total expenses. This cost rose 37% to Rs 81 crore during the fiscal year ending March 2024 from Rs 59 crore in FY23. Server and data security charges saw a 71% spike, reaching Rs 12 crore, while product maintenance costs increased 50% to Rs 9 crore. In contrast, professional fees and other expenses witnessed marginal reductions. Overall, total expenses for ZingHR grew 24% to Rs 133 crore in FY24. Despite rising costs, ZingHR significantly reduced its losses, reporting a net loss of Rs 7 crore in FY24, an improvement from Rs 21 crore in FY23, a 67% reduction. The company's Return on Capital Employed (ROCE) and EBITDA margin stood at -24.69% and -5.52%, respectively. On a unit level, ZingHR spent Rs 1.07 to earn a rupee during the last fiscal year. The Mumbai-based firm reported current assets worth Rs 56 crore, including Rs 12 crore in cash and bank balances in FY24. According to TheKredible, ZingHR has raised $14 million in funding to date, with Tata Capital as its lead investor, holding a 35.82% stake. ZingHR seems close to breaking out of any future fundraising requirements, assuming that momentum from FY24 has carried over into FY25 numbers as well. The disruption in the HRTech space is vastly underestimated, considering the continuous disruptions seen for the past decade, and ZingHR’s performance is quite good in that situation. While we don’t have a breakdown for revenue from India versus outside, the firm will do well to build revenues from exports. At a time when even forbidden sectors like the government or government-owned firms might be opening up to HR Tech firms, one would have to say even amidst the high competitive intensity, the sector is set to be significantly larger over the next 5 years. The one massive challenge will remain the missing firms from the MSME sector, which remains a problem to solve for service providers across the chain for now, not just HR. But all said and done, exciting times lie ahead for ZingHR.

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%

EntrackrEntrackr · 5m ago
Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%
Medial

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31% Blackbuck's revenue from operations grew to Rs 122 crore in Q4 FY25 from Rs 93 crore in Q4 FY24, its financial statements sourced from the National Stock Exchange show. Online trucking platform Blackbuck has released its quarterly report for the financial year ending March 2025. The Bengaluru-based company reported a 31% year-on-year growth in scale in Q4 FY25 and turned profitable, posting a profit before tax (PBT) of Rs 41 crore in the quarter. For the full fiscal year (FY25), Blackbuck’s operating revenue increased 44% to Rs 427 crore in FY25 from Rs 297 crore in FY24. Revenue from its truck operator services was the primary source of revenue, accounting for 98% of total operating revenue. The company also made Rs 15 crore from interest income which took its overall revenue to Rs 137 crore in Q4 FY25, compared to Rs 99 crore in Q4 FY24. For the full fiscal year, the firm’s total revenue stood at Rs 462 crore in FY25. Looking at the expenses, the employee benefit cost accounted for 35% of the overall expenditure which fell 74% year-on-year to Rs 33 crore in Q4 FY25 from Rs 128 crore in Q4 FY24. Depreciation and other operating expenses were key overheads that drove total expenditure to Rs 95 crore in Q4 FY25, compared to Rs 187 crore in the same quarter last year. For the fiscal year ending March 2025, the firm’s total expenses fell to Rs 371 crore as compared to Rs 483 crore in FY24. Blackbuck booked profit before tax of Rs 41 crore in Q4 FY25, as compared to a loss of Rs 87 crore in Q4 FY24. Meanwhile, for the full fiscal year ended March 2025, the company remained at a loss of Rs 283 crore (before tax), 69% more than Rs 167 crore in FY24. Blackbuck debuted on the stock exchange at Rs 208.90 and is now trading at Rs 459 on May 27, bringing its total market capitalization to Rs 8,180 crore.

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%

EntrackrEntrackr · 12d ago
Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%
Medial

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65% Furlenco managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. After a tepid performance in the last fiscal year, subscription-based furniture rental firm Furlenco has made a notable comeback in FY25. The Bengaluru-based firm managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. Furlenco’s revenue from operations grew to Rs 229 crore in FY25 from Rs 139 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Furlenco provides furniture and home decor for rent along with relocation services. Income from furniture rental services accounted for 91% of the operating revenue, which grew by 61% to Rs 208 crore in FY25. Income from the sale of products (furniture including sofas and beds), more than doubled to Rs 21 crore during the fiscal year ending March 2025. Including other non-operating activities such as treasury gains of Rs 11 crore, its total income rose to Rs 240 crore in FY25. The company streamlined its cost structure and reduced its total expense by 16% to Rs 237 crore in FY25 from Rs 282 crore in FY24. Employee benefits expenses decreased by 35% year-on-year to Rs 31 crore in FY25, while finance costs dropped 41% to Rs 19 crore in FY25. Cost of material, however, rose 33% to Rs 8 crore in FY25. Depreciation on the company’s furniture rose 29% to Rs 45 crore in FY25 from Rs 35 crore in FY24. With strong revenue growth and lower burn, Furlenco turned profitable and posted a profit of Rs 3 crore in FY25, in contrast to a loss of Rs 130 crore in FY24. Its ROCE and EBITDA margin improved significantly to 5.68% and 24.45%, respectively. On a per-unit basis, the firm spent Rs 1.03 to earn every rupee of operating revenue, compared to Rs 2.03 in FY24. Furlenco’s current assets stood at Rs 106 crore, including cash and bank balances of Rs 32 crore in FY25. According to startup data intelligence platform TheKredible, Furlenco has raised a total of $298 m in funding till date, with Sheela Foam and Lightbox Ventures as its lead investors. The company’s founder and chief executive, Ajith Mohan Karimpana owns 12% of the company. Furlenco certainly seems to have discovered a better playbook for its business, because numbers like these looked unlikely till last year. While the concept has certainly found takers, operating costs had been too high to offer hope of such a turnaround. So credit to the team for having pulled it off.

M League earns Rs 560 Cr from overseas in FY25, turns profitable

EntrackrEntrackr · 29d ago
M League earns Rs 560 Cr from overseas in FY25, turns profitable
Medial

M League earns Rs 560 Cr from overseas in FY25, turns profitable According to its consolidated financial statements filed with Singapore’s ACRA, M League’s revenue from operations surged to Rs 1,423 crore ($166.7 million) in FY25 from Rs 1,092 crore ($127.9 million) in FY24. M League, the parent company of Mobile Premier League (MPL), has recorded one of its strongest financial performances in FY25, clocking over 30% year-on-year growth and turning profitable at the group level. The turnaround, however, comes at a time when the company has had to shut down its real-money gaming (RMG) operations in India. Gaming remained the primary revenue driver, contributing $165.8 million, while the rest came from advertising and other operating activities. India was the largest market, accounting for around 60% of total revenue, followed by Europe and the US. Its German subsidiary, GameDuell Studios, a wholly owned unit, contributed nearly $60 million revenue in FY25. Advertising formed the largest expense, making up 42% of the total and rising 32.8% to $70 million. The company managed to trim employee benefit expenses by 20.5% to Rs 364 crore, while other operating costs, including payment gateway, server hosting, and professional fees, pushed total expenditure to $166.2 million (Rs 1,419 crore) in FY25. M League reported a net profit of $4.2 million (Rs 36.5 crore) in FY25, a sharp turnaround from a loss of $44.8 million (Rs 383 crore) in FY24. Its EBITDA margin turned positive at 2.45% during the last fiscal year. While FY25 marked a milestone year, the company’s outlook in India remains uncertain after the government’s move to outlaw real-money gaming. A company spokesperson told Entrackr that the latest results highlight the benefits of M League’s diversified strategy. “We didn’t put all our eggs into the India RMG basket. We have bought ourselves time and can act from a place of near-EBITDA breakeven at a group level while continuing to invest in growth areas such as GameDuell, Xsquads, and other ventures,” the spokesperson added. GameDuell grew 64% during FY25, while M League had already made early inroads into the US and Brazil by March 2025. International expansion is part of the company’s long-term vision to host a digital Olympics with players from across nations. M League maintained that its global portfolio gives it the flexibility to balance investment and returns. GameDuell has been profitable for years despite its rapid growth, and at the group level, M League has the ability to generate EBITDA whenever it chooses. M League refrained from sharing near-term projections, stating that it is too early to forecast annualized revenue after shutting down its India operations.

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

EntrackrEntrackr · 1m ago
Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2
Medial

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2 Savings app Jar has reported strong growth in FY25, reaching an operating revenue of Rs 208 crore during the fiscal year ending March 2025. The surge in scale came after the company vertically integrated its gold stack, which pushed its gross revenue to Rs 2,450 crore during the period. Vertical integration implies owning and operating several stages of the gold value chain. The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore and turned fully profitable in the last two consecutive quarters from January to June 2025. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes, with more than 95% of its users being first-time savers. Jar leverages UPI Autopay to automate savings and has expanded into jewellery through its vertical Nek and forayed into insurance offerings. The startup has raised over $60 million with a valuation of approximately $325 million, backed by investors like Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures.

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