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Zupee posts Rs 146 Cr profit after tax in FY24

EntrackrEntrackr · 2m ago
Zupee posts Rs 146 Cr profit after tax in FY24
Medial

Zupee posts Rs 146 Cr profit after tax in FY24 Real money gaming firm Zupee recorded over Rs 1,100 crore revenue in the fiscal year ending March 2024. Moreover, it also turned profitable during the same period, posting a net profit of Rs 146 crore. Zupee’s revenue from operations grew by 35% year-on-year to Rs 1.123 crore in FY24 from Rs 832 crore in FY23, the company said in its press release. According to the company, FY24 was a period of strong, broad-based growth for Zupee with a 60% increase in its registered user base. The company stated that it consolidated its leadership in traditional North Indian markets while expanding its footprint across the country. Founded by Dilsher Singh Malhi and Siddhant Saurabh, Zupee offers real-money games such as Ludo, Snakes & Ladders, Trump Cards, and Tombola. By the end of FY24, the platform claimed over 100 million registered users. Dilsher Singh Malhi, Founder & CEO of Zupee, said, “FY24 was a landmark year as the company turned profitable, scaled rapidly, and created a new category in India’s gaming space." He credited the growth to culturally rooted games and a strong focus on innovation, compliance, and responsible gaming. Zupee has raised $121 million to date, including its $102 million Series B round led by Nepean Capital in 2022. According to the startup data intelligence platform TheKredible, Nepean Capital is the largest external stakeholder with 19.61%, followed by Westcap and Seminal Digital. Zupee competes with players like Gameskraft, which reported Rs 3,500 crore in revenue and Rs 947 crore in profit, as well as Winzo, Playsimple Games, and others.

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Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24
Medial

Online fashion and beauty commerce platform Nykaa showcased a 24.1% growth in scale during the fiscal year ending March 2024. The profit after tax (PAT) for the Falguni Nayar-led firm also rose 90.5% to Rs 40 crore in the same period. Nykaa’s revenue from operations grew 24.1% to Rs 6,386 crore in FY24 from Rs 5,144 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. Nykaa On a sequential basis, the firm posted a 6.8% decrease in revenue to Rs 1,668 crore in Q4 FY24 from Rs 1,789 crore in Q3 FY24. The sale of beauty, personal care, fashion and other products and services through various platforms was the sole source of revenue for Nykaa. The firm has 14 subsidiaries and one associate named Earth Rhythm. It also made Rs 30 crore from interest and gain on the financial assets, tallying the total income to Rs 6,416 crore in FY24. For the fashion and beauty commerce platform, the cost of procurement formed 57.4% of the overall expenditure. In line with the scale, this cost grew 27.3% to Rs 3,647 crore in FY24. Its employee benefits, finance, depreciation, legal, advertising cum promotional, conveyance, and other overheads took the overall expenditure up by 23.6% to Rs 6,346 crore in FY24. The 24% scale and prudent cost mechanism helped Nykaa post a 90.5% increase in profit to Rs 40 crore in FY24 from Rs 21 crore in FY23. Its ROCE and EBITDA margins stood at 5% and 1.6%, respectively. On a unit level, Nykaa spent Rs 0.99 to earn a rupee in FY24. Nykaa Just ahead of quarterly and FY24 financial results, Nykaa announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme. As per Fintrackr’s estimates, the newly added ESOP options were worth around Rs 7 crore. Nykaa is currently trading at Rs 179.2 as of (22nd May at 5.08 pm) with a market cap of Rs 51,171 crore.

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

EntrackrEntrackr · 1m 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.

Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

EntrackrEntrackr · 7m ago
Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips
Medial

Temasek’s Fullerton recently acquired the troubled fintech firm Lendingkart in a distress sale. The company’s valuation plummeted to around $100 million in the deal, down from its peak of $690 million. While the reasons behind this downfall may become clearer when the firm discloses its FY25 numbers, the company’s profit after tax (PAT) slipped 6% during the fiscal year ending March 2024. We will analyze the company’s expenses in detail in the second half of the story. For now, let’s focus on its revenue streams and their growth. Lendingkart’s revenue from operations increased by 36% to Rs 1,090 crore in FY24 from Rs 798 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Lendingkart is a non-banking finance company (NBFC) that provides working capital and business loans to SMEs across India. It offers loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSMEs and has disbursed over Rs 18,700 crore to more than 300,000 businesses. Revenue from co-lending was the primary contributor, accounting for 54% of the operating revenue, which surged by 88% to Rs 591 crore in FY24. Revenue from interest on term loans shrank by 2.86% to Rs 407.81 crore FY24, while commission income spiked 34X to Rs 22.58 crore in FY24. It also made Rs 69.15 crore from other operating activities. The company generated another Rs 127 crore in FY24 from non operating activities which took its total revenue to Rs 1,217 crore in FY24. On the expense side, finance cost was the major factor, which increased by 16.82% to Rs 293.53 crore in FY24. Employee benefit expenses grew by 75.70% to Rs 199 crore while legal charges increased 58.25% to Rs 125.62 crore FY24. Overall, the firm’s total expenses spiked 49.4% to Rs 1,022.7 crore in FY24 from Rs 684.4 crore in FY23. Note: The company recorded Rs 171.67 crore in FY24 and Rs 67.12 crore in FY23 under impairment losses, these amounts have been excluded from the expense or profit calculations. The rising expenses on employee benefits took a toll on Lendingkart's profit which slipped by 6% to Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23. Its ROCE and EBITDA margin stood at 23.33% and 44.39%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee in FY24. The Ahmedabad-based company reported Rs 768.5 crore in cash and bank balances and had a current asset of Rs 2,110 crore as of FY24. According to TheKredible, Lendingkart has raised a total of Rs 3,217 crore (approximately $452 million) in funding to date. Its leading investors include Temasek, Bertelsmann, Mayfield, and Saama Capital.

Mamaearth-parent Honasa posts Rs 533 Cr revenue in Q4 FY25; Profit falls 17%

EntrackrEntrackr · 1m ago
Mamaearth-parent Honasa posts Rs 533 Cr revenue in Q4 FY25; Profit falls 17%
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Honasa Consumer Limited, the parent company of Mamaearth, has reported a 13% growth in scale, while its year-on-year (YoY) profits decreased by 17% during the same period. Honasa Consumer Limited, based in Gurugram, announced its financial results for the fourth quarter of the last fiscal year (Q4 FY25). The company reported a 13% growth in scale, while YoY profits decreased by 17%. Mamaearth’s Q4 FY25 revenue from operations increased 13% YoY to Rs 533 crore from Rs 471 crore in Q4 FY24. For the full fiscal year (FY25), operating revenue increased 8% to Rs 2,067 crore from Rs 1,920 crore in FY24. The company also added Rs 20 crore from non-operating activities, tallying its overall revenue to Rs 554 crore for Q4 FY25. For FY25, total income was Rs 2,146 crore. The cost of procurement accounted for 30% of the overall expenditure, increasing 11% YoY to Rs 156 crore in Q4 FY25 from Rs 141 crore in Q4 FY24. Spending on employee benefits, marketing, legal, rent, and other overheads led to a 16% YoY rise in total expenditure to Rs 522 crore in Q4 FY25 from Rs 451 crore in Q4 FY24. Total expenses for FY25 were Rs 2,056 crore. The company reported a profit after tax of Rs 25 crore in Q4 FY25, a 17% decrease from Rs 30 crore in Q4 FY24. Profit for FY25 decreased to Rs 73 crore compared to Rs 110 crore in FY24. Recently, the company elevated Karan Bajwa and Avinash Dhagat to CXO roles, following Anuja Mishra's (CMO) resignation. Mamaearth parent’s shares closed at Rs 275, with a marketing capitalization of Rs 8,944 crore ($1.04 billion).

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%

EntrackrEntrackr · 1m ago
Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%
Medial

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20% Digital payments firm Infibeam has reported a 62% increase in revenue during the fourth quarter of the last fiscal year (Q4 FY25), while its year-on-year profit rose by 20%. Infibeam’s revenue from operations increased to Rs 1,160 crore in Q4 FY25 from Rs 716 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Infibeam’s operating revenue increased 27% to Rs 3,992 crore in FY25 from Rs 3,150 crore in FY24. Payment business accounted for 95% of its total collection which increased by 64% to Rs 1,098 crore in Q4 FY25. Meanwhile, there was a 35% increase in the e-commerce platform business, which rose to Rs 62 crore. The Ahmedabad-based firm recorded a total revenue of 1,180 crore in Q4 FY25. For the full fiscal year (FY25), its total income stood at Rs 4,066 crore. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. On the cost side, the company’s total expenses rose by 66% to Rs 1,104 crore in Q4 FY25. For the digital payment firm, its payment processing was the largest cost center, rising by 68% to Rs 1,025 crore. Employee benefits increased by 30% to Rs 39 crore, while depreciation cost grew 6% to Rs 18 crore. Infibeam Avenues also incurred Rs 22 crore on other undisclosed expenses in the said quarter. For the fiscal year ending March 2025, the firm’s total expenses increased to Rs 3,768 crore. In the end, the company reported profit after tax of Rs 55 crore in Q4 FY25, 20% up from Rs 46 crore in Q4 FY24. On a fiscal year basis, its profit increased to Rs 236 crore in FY25 from Rs 156 crore in FY24. At 15:31 PM today, its market cap stood at Rs 5,579 crore while the firm’s stock was trading at Rs 20.

Oxyzo posts Rs 903 Cr revenue and Rs 291 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Oxyzo posts Rs 903 Cr revenue and Rs 291 Cr PAT in FY24
Medial

B2B fintech unicorn Oxyzo Financial Services recorded 58.4% year-on-year growth during the fiscal year ended March 2024. At the same time, the profits of the Tiger Global-backed company spiked 47% and neared the Rs 300 crore threshold. Oxyzo’s revenue from operations increased to Rs 903 crore in FY24 from Rs 570 crore in FY23, according to the company’s consolidated financial statement reviewed by Entrackr. Oxyzo is the lending arm of industrial goods and services procurement platform OfBusiness which provides credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest received from the disbursement of loans formed 96% of the total operating revenue which increased 61.3% to Rs 866 crore in FY24. The rest of the income came from fees and commissions which grew 50% to Rs 36 crore in FY24. Finance cost became the largest cost center for Oxyzo, forming 61.67% of its overall expenditure. These expenses surged 73.2% to Rs 317 crore in FY24. Oxyzo’s employee benefits also saw a growth of 48.7% during FY24. The firm’s burn on legal cum professional, advertising, technology, and other overheads pushed its total expenditure up by 66.3% to Rs 514 crore in FY24 from Rs 309 crore in FY23. The notable scale and controlled cost helped Oxyzo post a 47% increase in its PAT (profits after tax) to Rs 291 crore in FY24 from Rs 198 crore in FY23. On a unit level, it spent Rs 0.57 to earn a rupee in FY24. Oxyzo claims that it ended FY24 with an approximately Rs 2,600 crore of net worth with post tax return of assets (RoA) of 4.5% and a gross non-performing assets (NPA) of 1.02%. In addition to scaling its balance sheet, the company will continue to invest and grow its debt capital markets platforms for its enterprise clients. FY23-FY24 FY23 FY24 EBITDA Margin 46% 43.4% Expense/₹ of Op Revenue ₹0.54 ₹0.57 ROCE 11% 15% Oxyzo has raised around $200 million in 2022 and entered the unicorn club after its Series A round led by Alpha Wave and Tiger Global. As per the startup data intelligence platform TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global. Like its parent firm, Oxyzo has been quick to latch on to a relevant and profitable service in the B2B market it serves. The rising profitability places it very well to meet its ambitious goal for the debt capital markets platform. It’s the kind of virtuous cycle that investors love, and it should be no surprise to see a spike in valuations here soon.

Ixigo posts Rs 656 Cr revenue and Rs 73 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Ixigo posts Rs 656 Cr revenue and Rs 73 Cr PAT in FY24
Medial

Le Ventures Private Limited, the parent company of Ixigo, has released its annual results for the fiscal year ended March 2024. The Gurugram-based company saw a 31% year-on-year increase in its revenue along with the profits spiking over 3X in the same period. Ixigo’s revenue from operations grew 31% to Rs 656 crore in FY24 from Rs 501 crore in FY23, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. On a sequential basis, the firm recorded a modest 3.3% decrease in its revenue to Rs 164.8 crore in Q4 FY24 from Rs 170.5 crore in Q3 FY24. Ixigo primarily generates income from convenience fees and commissions on train, airline, and bus ticket reservations. Train reservations contributed 56.4% of the total revenue, rising by 24.2% to Rs 370 crore in FY24. Income from airlines and buses stood at Rs 146 crore and Rs 132 crore, respectively in FY24. The company also generated Rs 9.2 crore from interest and financial assets which took its total income to Rs 665 crore in FY24. During FY24, Ixigo had 480 million annual active users. Its flights business saw 77% YoY growth in passenger segments with total booking of 95.6 million in the last fiscal year. Akin to most late-stage tech companies, employee benefits accounted for 22.4% of the total expenditure. This cost increased by 12% to Rs 141 crore in FY24 from Rs 126 crore in FY23. The firm’s expenditure on marketing, legal, refunds to customers, fees to its partners, and other overheads took its overall expenditure up by 29.8% to Rs 628 crore in FY24 from Rs 484 crore in FY23. The 31% growth and tight control on overall cost helped Ixigo to post a 213.3% surge in its profits to Rs 73 crore in FY24 from Rs 23.3 crore in FY23. Its ROCE and EBITDA margin improved to 14.05% and 11.55%, respectively. On a unit level, it spent Rs 0.96 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 6.31% 11.55% Expense/₹ of Op Revenue ₹0.97 ₹0.96 ROCE 5.02% 14.05% Ixigo went public on June 18 and its IPO was oversubscribed by 98.3X while the portion of non-institutional investors (NIIs) oversubscribed by 110.5 times. The company also saw nearly an 80% surge in its valuation when compared to pre IPO round. With its current stock price at Rs 167 versus the IPO price of Rs 93, Ixigo will certainly face the challenge of delivering on high market expectations. While the firm has the benefit of a strong economy that has allowed valuations to expand in the public markets too, it does have to contend with intense competition and pressure on margins in the months ahead. That makes its Q1 results for the June quarter a huge event in terms of providing a pointer to its growth momentum.

Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits

EntrackrEntrackr · 11m ago
Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits
Medial

Co-working solutions provider Awfis filed its first quarterly results after going IPO. The Delhi based company witnessed 10.9% revenue growth with the profits spiking 102.9% during the same period. Awfis’ revenue increased to Rs 258 crore in Q1 FY25 from Rs 232 crore in Q4 FY24, as per its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Income from renting of co-working space and allied services contributed 72% of the firm’s total operating revenue while construction and fit-out projects contributed 26% . On a sequential basis, its operating revenue increased by 37.31% from Rs 187.7 crore in Q1 FY24. Awfis’ total expense increased by 10.57% to Rs 265.08 crore in Q1 FY25 from Rs 239.79 crore in Q4 FY24. Subcontracting cost and purchase of traded goods accounted for 24% of the total expense. Employee benefit, depreciation and amortization and finance costs were some other major expenses for the 10-year-old company. The consistent growth in scale helped Awfis to double its profit which stood at Rs 2.78 crore in Q1 FY25 as compared to Rs 1.37 crore in Q4 FY24. For context, Awfis posted a loss of Rs 8.3 crore in Q1 FY24. Awfis is currently trading at Rs 669.7 (as at the end of August 13) with the market capitalization of Rs 4648 crore (approximately $560 million).

WinZO posts Rs 1,055 Cr revenue and Rs 315 Cr profit in FY24

EntrackrEntrackr · 2m ago
WinZO posts Rs 1,055 Cr revenue and Rs 315 Cr profit in FY24
Medial

WinZO posts Rs 1,055 Cr revenue and Rs 315 Cr profit in FY24 The company’s top and bottom lines appear impressive despite a significant policy headwind: a 400% hike in GST on online gaming, which increased to 28% on gross receipts starting October 1, 2023. Gaming publisher WinZO reported a 70% year-on-year surge in operating revenue to Rs 1,055 crore in the fiscal year ending March 2024, while its profit after tax (PAT) jumped 2.5X to Rs 315 crore during the same period, according to a company’s press release. The company’s top and bottom lines appear impressive despite a significant policy headwind: a 400% hike in GST on online gaming, which increased to 28% on gross receipts starting October 1, 2023. Since the revised tax rate applied only for half the fiscal year, WinZO expects the full financial impact to be visible in FY25. Founded by Paavan Nanda and Saumya Singh Rathore, WinZO claims to have 250 million registered users. Backed by 50 developer partners and a lean team of 200 employees, the company also claims to have filed over 50 tech patents. Its game portfolio largely comprises casual titles such as Carrom, Ludo, 8 Ball Pool, and Chess. According to the release, the company facilitated 1 in every 200 UPI transactions in India last year and has built a network of over 75,000 micro-influencers and gaming creators in smaller cities and towns. WinZO has raised $100 million in funding from global investors including Kalaari Capital, Griffin, Courtside Ventures, and Makers Fund. In FY23, the company transitioned to IndAS accounting standards. As a result, it recorded a non-cash expense of Rs 999 crore due to fair value treatment of CCPS as liabilities, not equity.

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