Paytm reports Rs 1,501.6 Cr revenue and Rs 840 Cr loss in Q1 FY25

In Q1 FY25, Paytm's operational revenue fell 33.8% to Rs 1,501.6 crore, down from Rs 2,267.1 crore in Q4 FY24, and saw a 35.87% year-over-year decline. Total revenue, including interest and gains, was Rs 1,639.1 crore. Expenses dropped 8% to Rs 2,476.4 crore, with significant cuts in employee costs and payment processing expenses. Despite a 52.6% rise in quarterly losses to Rs 840 crore, Paytm remains optimistic, citing growth in its merchant base and transaction values nearing pre-pandemic levels.

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https://entrackr.com/2024/07/p....aytm-reports-rs-1501

OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr

Industrial goods and services procurement platform OfBusiness saw a 25.8% revenue increase to Rs 19,296 crore in FY24, with profits surging 30% to over Rs 600 crore. Primary revenue sources included industrial goods sales and financial services for SMEs. Total revenue reached Rs 19,529 crore, with significant expenses in raw materials and employee benefits. Controlled expenditures and growth boosted profits, with an improved ROCE and EBITDA margin. OfBusiness competes with Zetwerk, Infra.market, and Moglix.

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https://entrackr.com/2024/07/e....xclusive-ofbusiness-

SoftBank-backed FirstCry, Unicommerce get SEBI approval for IPO

FirstCry and Unicommerce, both SoftBank-backed companies, have received final SEBI approval for their IPOs. FirstCry refiled its IPO papers in April after initial concerns from SEBI regarding disclosed metrics. The IPO includes a fresh issue of equity shares up to Rs 1,816 crore and an OFS of up to 54,391,592 shares. FirstCry reported Rs 4,814 crore in revenue and Rs 278 crore in net losses until Q3 FY24. Meanwhile, Unicommerce plans an OFS of up to 2,98,40,486 shares. SEBI's recent approvals include Ola Electric, reflecting a surge of internet companies entering India's stock market.

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https://entrackr.com/2024/07/s....oftbank-backed-first

Ixigo raises Rs 333 Cr from anchor investors ahead of IPO

Le Travenues Technology Limited, the parent company of Ixigo, offered shares worth Rs 333 crore ($40 million) to anchor investors for its IPO. Ixigo's board approved issuing 3,58,11,405 shares at Rs 93 each. Key investors include SBI, HDFC, Morgan Stanley, and others. Ixigo’s IPO runs from June 10-12, 2024, with a price band of Rs 88-93. The company reported Rs 491 crore revenue and Rs 65.7 crore profit in FY24.

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https://entrackr.com/2024/06/i....xigo-raises-rs-333-c

Funding and acquisitions in Indian startup this week [27 May-01 Jun]

Indian startups raised $387.23 million, comprising 13 growth-stage deals totaling $309.7 million and 20 early-stage deals worth $77.53 million. Major deals include SEDEMAC, Infra.Market, and Ather Energy. Bengaluru led with 15 deals, followed by Delhi-NCR. E-commerce, fintech, and EV sectors dominated. Seed funding led with 8 deals. Funding decreased by 13% from the previous week. Notable hirings include InCred's COO appointment. Seven funds were launched, and notable acquisitions include BharatX acquiring Zenifi. ESOP buybacks and potential market moves were observed. Various financial results and news flashes were reported. Notable launches include Shopsy by Flipkart and Q-Zap by Razorpay.

#entrackr #fintrackr #funding #acquisitions #startup #weeklyroundup #weeklyreport #report #weeklyfundingreport #startupnews

https://entrackr.com/2024/06/f....unding-and-acquisiti