FINTECH ADVERTISING REVENUE
Swiggy’s revenue up 24% in calendar year 2023; quick commerce unit economics improve: Prosus
Prosus, the largest shareholder in Swiggy, reported a 24% revenue growth for the year ended March 31, 2024, with Swiggy's gross order value increasing by 26% year on year.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY
Paytm Q4 Results: The fintech major's March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank's products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Q4 results today: Sun Pharma, Nykaa, Paytm among 162 companies to declare earnings on Wednesday
162 companies to report Q4 earnings on Wednesday. Nykaa expects 24% BPC and Fashion GMV growth, while Paytm faces a revenue decline from RBI actions. Analysts also predict pressure from discounting and lower advertising income.
Info Edge shares surge 8% after Q4 PAT rises 18% YoY. Should you invest?
Shares of Info Edge (India), the parent company of Naukri.com, surged 8% on the BSE during Friday's trading session, reaching a peak of Rs 6,338.55. This increase followed the company's Q4 profit report of Rs 211 crore, marking an 18% year-on-year growth.
Atlan’s valuation nearly doubles; decoding PB Fintech’s FY24 financials
Data collaboration software startup Atlan has raised $105 million at nearly double the valuation since its last round. Details on this and more in today’s ETtech Top 5.
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LS Digital's FY23 revenue jumps 35% to Rs 695 crore
Digital marketing firm LS Digital, formerly Logicserve Digital, saw a 35% revenue increase to Rs 695 crore in FY23 due to market growth, new business wins, and strategic expansion. Expenses surged 32% to Rs 669 crore, with advertising costs at Rs 598 crore. Net profit tripled to Rs 18.4 crore. LS Digital focuses on media, UI/UX, creative and communication, data and analytics, CX, and technology. Acquisitions have boosted capabilities.
PhonePe, Paytm eye sound box advertising; FMCG firms sign up for pilots
PhonePe and Paytm are testing audio ads on sound boxes at retail stores with FMCG brands. The ads, targeting impulse-buying, lack measurement tools for now, posing revenue challenges despite potential targeting opportunities.
Aspire and Innovative Advertising IPO: Check issue size, price band, GMP and other details
Aspire and Innovative Advertising IPO, Aspire and Innovative Advertising IPO size, Aspire and Innovative Advertising IPO GMP, Aspire and Innovative Advertising IPO date, Aspire and Innovative Advertising IPO news
ETtech In-depth: Decoding the UPI growth story through the eyes of a duopoly
If the third largest UPI payment app further loses market share, there is a high chance that the likes of PhonePe and Google Pay will benefit, skewing the market share dynamics even more, industry insiders said.
Instagram or YouTube? Indian brands torn between the two for maximum ad impact
Instagram vs YouTube is the power battle that is shaping where brands put their money, and users their attention. Who will garner eyeballs; who will take home more ad budgets? ET speaks to marketers to find out the parameters that will determine who emerges triumphant in this gladiatorial royal rumble.
Yashish Dahiya on 3 factors will lead to higher profitability for PB Fintech looking ahead
Yashish Dahiya of PB Fintech, discusses the contribution margin and EBITDA margin of the business. He highlights the significance of renewals and the higher margin they bring compared to fresh business. Dahiya also mentions the impact of ESOPs and the company's strategic focus on expanding services and controlling more of the value chain. He mentions investments in Visit Health and the company's plans for account aggregation, payment aggregation, and reinsurance brokerage.
PB Fintech's maiden profit; another markdown for Meesho
Policybazaar parent PB Fintech on Tuesday reported its first ever net profit on the back of strong revenue growth for the quarter ended December 2023. This and more in today’s ETtech Top 5.
PB Fintech Q3 results today: Fintech likely to swing to profit. Key things to track for investors
PB Fintech Q3 results: PB Fintech, operator of policybazaar, to report Q3 results today with expected revenue growth of 34% YoY and first positive profit. Analysts predict a profit of Rs 26.9 crore. The company's Q2 revenue from operations grew at 42% YoY to Rs 812 crore. JM Financial expects strong growth in insurance premium and loan disbursals with respective revenue growth of 45% and 42%. Despite a strong quarter, analysts see room for high growth with declining losses in PoSP and increased renewals for sustained margin improvement.
KKR’s big bet on BookMyShow; Free Fire Max tops esports sweepstakes
Private equity fund KKR is in advanced talks to pick up a significant minority stake in online ticket-booking platform BookMyShow. This and more in today’s ETtech Morning Dispatch.
Udaan’s valuation plummets; draft rules for fintech self-regulatory bodies
Business-to-business (B2B) ecommerce platform Udaan has taken a major hit with its valuation being chopped by nearly half to $1.8 billion in a down round. This and more in today’s ETtech Morning Dispatch.
New-age firms ride market surge in buoyant week; and other top tech, startup stories this week
On Friday, the 30-stock benchmark index BSE Sensex ended at a fresh all-time high of 72,568 points. In the broader buoyancy of the stock markets, shares of new-age companies Zomato, Nykaa, Honasa Consumer, Paytm, Delhivery and PB Fintech also rose through the week.
IT firms to face-off for $16 billion of deals; Zomato pauses Blinkit integration
Indian IT firms are expected to put up a tough fight for these contracts, many of which are now serviced by global multinationals. Experts attribute this competition to technology clients turning more cost-conscious in a turbulent macro-economic environment.
Flipkart marketplace arm’s revenue jumps 42% to Rs 14,845 crore in FY23, loss narrows 9%
Walmart-owned Flipkart runs its India business through various entities, and Flipkart Internet runs the marketplace where the firm earns its revenue in the form of seller commissions, advertising income, and other fees for seller services.
British fintech Revolut revenue jumps, profit tumbles in 2022
Revolut, which ranked as the UK's most valuable start-up with around a $33 billion valuation in 2021, has applied for a UK banking licence but is still awaiting approval.
Indian ad market expected to grow 11.4% to touch Rs 1.22 lakh crore in 2024
Traditional mediums are expected to account for 54% of the total ad spend in 2024, while digital will account for the rest. Digital and TV are forecasted to be the biggest segments, comprising almost 79% of the total ad spend in the coming year.
PB Fintech to invest Rs 349 crore in financial boost to Policybazaar
The present investment seeks to strengthen the financial health of Policybazaar to meet its general operating expenses and enhance brand awareness, office presence and strategic initiatives.
Fintechs bank on credit cards for growth; ShareChat’s FY23 losses jump to over Rs 4,000 crore
Fintech heavyweights such as Cred and PhonePe are exploring cross-selling options and forging partnerships with banks to act as distribution channels for their credit cards. This and more in today’s ETtech Morning Dispatch.
Fintechs shuffle the pack to come up with aces; and other top tech, startup stories of the week
Even fintech infrastructure provider Perfios has roped in Sumit Nigam as chief technology officer, who was previously the engineering head at BigBasket, and Anu Mathew as its new chief people officer from Pine Labs with an eye on an eventual listing.
Snap’s Evan Spiegel on growing beyond 200 million users in India; Banks woo fintechs to push gold loans
Snap CEO Evan Spiegel elaborated on his plans for India, his vision for artificial intelligence (AI) and augmented reality (AR) in the days ahead, and much else, in a free-wheeling talk with ET. This and more in today’s ETtech Morning Dispatch.
Policybazaar parent reaffirms FY24 profitability plan, even as Q2 remains in losses
Chairman Yashish Dahiya says Q3 and Q4 are the strongest for PB Fintech and will help offset losses in the first two quarters.
ETtech Unwrapped: Confusion, chaos, and disruption in wake of Delhi's bike taxi ban
The notice issued by the Delhi government last week warned bike taxi operators such as Rapido, Ola and Uber to not ply on Delhi roads as it violates the motor vehicle laws.
Fintechs Paytm, PhonePe, Google Pay eye advertising revenues from D2C brands
The interest from D2C brands to advertise on these fintech apps comes as these platforms have amassed a large captive user base and witness high daily user engagement rates with use-cases such as digital payments.
Ads on fintechs pay off for D2C firms; don’t use bikes as taxis for deliveries, Delhi govt tells online platforms
With a captive user base and high user engagement, fintechs such as Paytm, PhonePe, and Google Pay are becoming popular with direct-to-consumer (D2C) brands seeking a platform to advertise and acquire customers. This and more in today’s edition of the ETtech Morning Dispatch.
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