Corporate News
Cashfree Records Rs 133 Crore Loss in FY23, Achieves Impressive Revenue of Rs 614 Crore
The surge in losses is attributed to a substantial rise in employee benefits and payment processing costs, according to the company's financial statements filed with the Registrar of Companies (RoC).
Ola Electric Sets New Record with Highest Monthly Registrations in December 2023, Exceeds 30K Milestone
The company demonstrated robust year-on-year growth, posting a remarkable 74% increase compared to December 2022. Additionally, Ola Electric exhibited a quarter-on-quarter growth of 48%,
Pristyn Care Records Impressive 45% Revenue Growth in FY23, Reports Losses at Rs 383 Crore
Backed by Tiger Global, the firm witnessed a surge in operating income, climbing from Rs 313 crore in FY22 to Rs 453 crore in FY23, as disclosed in its financial statements from the Registrar of Companies (RoC).
Snapdeal Records Rs 388 Crore Revenue in FY23, Slashes Losses by 45%
A significant milestone was achieved by the company as it claimed profitability in the third quarter of the ongoing fiscal year, FY24.
Pine Labs Records Rs 1,588 Crore Revenue in FY23, Reduces Losses by 12.3%
According to Entrackr, citing Pine Labs' consolidated financial filings in Singapore, the company witnessed a notable reduction in losses, decreasing by 12.3% to Rs 227 crore in FY23 compared to Rs 259 crore in FY22.
IPO-Bound FirstCry Reports Surge in Losses to Rs 486 Crore in FY23, Revenue Hits Rs 5,632 Crore
However, amidst this impressive revenue surge, FirstCry faced mounting losses, which skyrocketed over sixfold from Rs 79 crore in FY22 to Rs 486 crore in FY23.
Piramal Plans Adjustment of Rs 3,164 Crore AIF Exposure to Adhere to New RBI Directive
Breaking down the remaining Rs 3,164 crore, Piramal revealed that Rs 1,737 crore of downstream investments have been made by the AIF into three entities, which have been debtor companies of PEL (consolidated) in the last 12 months.
Mensa Brands Records a Loss of Rs 329 Crore in FY23 for D2C Operations
Despite the challenging financials, Mensa Brands demonstrated robust performance in terms of operating revenue, which climbed to Rs 1,317 crore in the fiscal year ending March 2023, a significant uptick from Rs 339.2 crore recorded in FY22.
Nothing's India Head Manu Sharma Steps Down, Company Wishes 'Best of Luck'
While Nothing mentioned Sharma's departure due to personal reasons, they praised his significant role in building the brand in India and extended best wishes for his future endeavors.
OYO Appoints Rakesh Kumar as Chief Financial Officer in Key Leadership Promotion
Ritesh Agarwal, OYO's Founder and CEO, expressed confidence in Kumar's leadership during efforts to enhance profitability and strengthen the company's financial foundation.
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