Of the four, Paytm – driven by an increase in device subscriptions and accelerated adoption of high-margin businesses such as lending – saw the strongest year-over-year revenue growth at 88.5%, the figure rising to Rs 1,679.6 Crore from the prior year period.
Zomato’s revenue grew 67% year-on-year to Rs 1,413.90, driven by 10% sequential growth in GOV to Rs 6,430 crore in the April-June quarter and growth in revenue per order. GOV’s momentum was supported by robust growth in order volumes and slight growth in average order values compared to the prior quarter.
Digital map company CE Info Systems, which operates under the MapMyIndia brand, came in third place as its operating revenue increased by around 50% to Rs 65 crore from the year-ago period. through the provision of services such as highly differentiated and unique services. advanced digital boards, SaaS products, API platforms and IoT devices.
Omnichannel beauty retailer FSN Ecommerce Ventures, popularly known as Nykaa, reported 41% year-on-year growth in revenue to Rs 1,148.4 crore, mainly catalyzed by a bumper stock listing in November of last year and gross merchandise value (GMV) growth of 47% YoY to Rs 2,156 crore. Nykaa’s consolidated GMV increased at a 3-year CAGR of 61%. Own-brand GMV represents 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 market last year. While most of them started shortly after their IPO as their stock prices soared, they have yet to see profitability.
In addition, there has been a significant correction in equities since the start of 2022 following the outbreak of the war between Russia and Ukraine, the tightening of global macroeconomic conditions, a rise in interest rates in a global inflationary environment and the onset of a “technology winter”. ‘ made the road to profitability more difficult.
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