MobiKwik, the digital financial services platform, has marked a significant achievement by reporting its first-ever full-year profitability for FY24 after 15 years of operating at a loss. The company announced a Profit After Tax (PAT) of ₹14.08 crore, a substantial turnaround from the ₹83.81 crore loss in FY23. This milestone has boosted MobiKwik’s confidence as it prepares for its Initial…
OYO, the IPO-bound travel tech unicorn, has reported its first-ever net profit of ₹229 crore for the financial year ending March 2024, according to its latest annual report.
Ritesh Agarwal, the founder of OYO, took to X (formerly Twitter) on Wednesday to celebrate the milestone. He acknowledged that the results surpassed his earlier projection of ₹100 crore for the fiscal year 2023-24. “One…
Biocon, a leading player in the biopharmaceutical industry, has announced impressive financial results for Q1FY25, showcasing a remarkable 550% surge in net profit and a significant 30% increase in revenue.
Key Financial Highlights:
Biocon reported consolidated revenue of INR 4,567 crore for Q1FY25, marking a robust 30% increase from the same period last year. This revenue growth is a testament to…
Shares of Zillow Group surged on Thursday following the company’s announcement of a new CEO and its better-than-expected second-quarter financial results. The real estate services firm revealed a narrower loss of $0.07 per share, significantly less than the previous year and well below analysts’ forecasts. Revenue for the quarter increased by 13% to $572 million, surpassing…
Gokaldas Exports Limited, a leading apparel manufacturer and exporter, has reported a 16.5% decline in its profit after tax (PAT) for Q1 FY25, totaling ₹27.2 crore, down from ₹32.6 crore in the same quarter of the previous year. The decrease in PAT was attributed to production disruptions in April and May, which led to shipment delays and increased costs for overtime and…
Arm Holdings (ARM) saw its shares tumble in after-hours trading, despite reporting fiscal first-quarter earnings that exceeded expectations. The company’s stock fell over 12% after gaining more than 8% during the regular session, even as it continues a remarkable run with a 90% increase so far in 2024.
The decline came after Arm Holdings provided a weaker-than-expected earnings outlook for the…
As summer approaches with forecasts of unusually high temperatures, Orient Electric, a CK Birla Group company, is poised for significant revenue growth in FY24, driven by strong performance in its fans and coolers segments. Rakesh Khanna, MD & CEO of Orient Electric, shared his optimistic outlook, citing increased demand due to the anticipated heat.
Khanna noted that the company expects a…
