Paytm recorded the highest YoY revenue growth at 88.5% as the figure increased to Rs 1,679.6 crore compared to the corresponding period in the prior year. This growth was driven by a fair increase in device subscriptions and also the accelerated adoption of high-margin businesses like lending.
Paytm’s stock price has dropped 22% over the previous month, while it has dropped 59% from its Rs 2,150 IPO price. The company went public on November 18, 2021. The stock set a record high of Rs 1,961.05 then but has yet to return to its issue price since its debut.
Zomato’s revenue increased 67 percent year over year to Rs. 1,413.90 thanks to both an increase in revenue per order and a 10 percent sequential increase in GOV to Rs. 6,430 crore in the April–June quarter. GOV (Gross Order Value) was able to keep up its momentum compared to the prior quarter thanks to strong rise in order volumes and a little increase in average order values.
Tiger Global, a US investment firm, said it also sold roughly 184 million Zomato shares, or 2.34% of the company, on the open market between July 25 and August 2. Following the sale, Tiger Global currently owns 2.77 percent of the business.
Nykaa, Little Black Book Acquisition
The multichannel cosmetics store FSN Ecommerce Ventures, Nykaa, had a surge in gross merchandise value (GMV) of 47 percent YoY to Rs 2,156 crore and a revenue increase of 41 percent year over year to Rs 1,148.4 crore. In the past three years, Nykaa’s consolidated GMV has increased at a 61% CAGR. 11.2 percent of the overall GMV was made up by the GMV of owned brands.
The company said on Friday (August 5) that its board of directors approved an all-cash acquisition of the digital content platform Little Black Book (LBB).
Nykaa asserted that in order to diversify its offers, it intends to invest in new growth industries. With the exception of BPC and fashion, the other verticals GMV increased by 153% YoY to INR 85 Cr, adding 3.9% to the overall GMV in Q1 FY23.
In Q1 FY23, the e-commerce company opened 8 new physical stores in Delhi, Ranchi, Coimbatore, Delhi, Kolkata, Ahmedabad, and Pune with a focus on offline growth. As a result, there are now 113 outlets spread over 52 cities.
“We are still concentrating on funding the future’s growth engines, such as Superstore by Nykaa, Nykaa Man, and global operations. Our goal in each of them is to develop the business model in a sustainable way. We are seeing encouraging revenue growth in these businesses, which gives us hope for our goals,” said Falguni Nayar, CEO and MD of Nykaa.
In 2022, there will still be many obstacles to overcome, too many rate increases are predicted, inflation has not yet stabilized, and we are unsure of the situation in Ukraine. Therefore, the market’s current up-down trend may continue. The foundation is being laid for 2023.
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