zomato: Tech Earnings Summary: Zomato, Paytm, Nykaa Hit Record Earnings

New technologies startups , and MapMyIndia recorded solid year-over-year revenue growth during the first quarter (Q1) of the current fiscal year (FY23) driven by higher total order value (GOV), strong payment monetization, growth in gross merchandise value (GMV) and unique digital products new generation, respectively.

Of the four, Paytm, helped by increased device subscriptions and accelerated adoption of high-yield activities such as lending,
showed the highest growth in revenue year on year at the level of 88.5% as this figure rose to Rs 1,679.6 crore compared to the period of the previous year.

Zomato’s revenue rose 67% year on year to Rs 1,413.90. led by a consistent 10% rise in GOV to Rs 6,430 crore in the April-June quarter and a rise in on-demand revenue. The momentum in GOV was supported by solid growth in order volumes and moderate growth in average order values ​​quarter-on-quarter.

Digital Card Company
CE Info Systems, branded as MapMyIndia.ranked third as its operating revenue grew by about 50% to Rs 65 crore year-over-year thanks to the provision of services such as highly differentiated and unique advanced digital cards, SaaS products, API platforms and IoT devices.

Multi-channel beauty retailer FSN Ecommerce Ventures, commonly known as Nykaa., registered revenue growth of 41% year on year to Rs 1,148.4 crore, primarily due to a sharp listing on the stock exchange last November, and a 47% year on year increase in gross value of goods (GMV) to Rs 2,156 crore rupees. Consolidated GMV Nykaa grew at a CAGR of 61% over 3 years. Own brands GMV accounted for 11.2% of total GMV.

Long road to profitability

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It was a mixed bag in terms of earnings for the four big tech startups that debuted on the stock markets last year. While most of them went live shortly after their initial public offering when their stock prices skyrocketed, they have yet to see profitability.

In addition, since the beginning of 2022, there has been a significant correction in stocks after the outbreak of the war between Russia and Ukraine, the tightening of global macroeconomic conditions, the increase in interest rates against the backdrop of a general inflationary environment and the onset of the “technological winter”. ‘ made the road to profitability more difficult.

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