India’s startup ecosystem is vibrant and rapidly evolving, with numerous startups making waves in various industries. The top startups in India are those that are answering the everyday needs of the more than 1.3 billion people who live in the country.
India’s startup ecosystem is a hotbed of innovation and entrepreneurship, with a mix of profitable and challenging scenarios for listed startups in FY24. These startups play a crucial role in driving economic growth, attracting investments, and shaping the future of various industries in India.
Listed below are such startups in Indian stock exchanges that have performed well during recent quarters:
FSN E-Commerce Ventures Ltd (Nykaa)
With a market capitalization of Rs. 44,737 crores, the shares of the consumer technology platform started Friday’s trading session on a flatter note at Rs. 156 compared to its previous close of Rs. 156.90.
During the trading session, the shares hit a high of Rs. 160, gaining around 1 percent and closed the day at Rs. 157 apiece.
Looking at the recent financial statements, the revenue increased by 18 percent from Rs. 1,507 crores during the September quarter to Rs. 1,789 crores in the December quarter. In addition, the net profits magnified by 112 percent from Rs. 8 crores to Rs. 17 crores during the same timeframe.
Comparing these metrics on a YoY basis, the net profits zoomed by 22 percent from Rs. 1,463 crores during Q3FY23 to Rs. 1,789 crores in Q3FY24. On the other hand, the net profits on a YoY basis remained constant compared to a quarterly basis, where it increased from Rs. 8 crores to Rs. 17 crores.
The company’s performance was driven by a combination of factors, including increased demand during the festive season and the implementation of cost-saving measures. Furthermore, Nykaa’s focus on expanding its product offerings and improving its supply chain efficiency also contributed to the growth in revenue and profitability.
Delhivery Ltd
With a market capitalization of Rs. 34,383 crores, the shares of the logistics company started Friday’s trading session on a flatter note at Rs. 473.95 compared to its previous close of Rs. 473.10.
During the trading session, the shares hit a low of Rs. 461, making a loss of around 2 percent and closed the day at Rs. 465 apiece.
Looking at the recent financial statements, the revenue increased by 13 percent from Rs. 1,942 crores during the September quarter to Rs. 2,194 crores in the December quarter. In addition, net profits showcased a transition from a net loss of Rs. 103 crores to Rs. 12 crores during the same period.
Comparing these metrics on a YoY basis, the net profits zoomed by 21 percent from Rs. 1,824 crores during Q3FY23 to Rs. 2,194 crores in Q3FY24. On the other hand, the net profits transformed from a net loss of Rs. 196 crores to a net profit of Rs. 12 crores during the same timeframe.
Delhivery’s strategic focus on enhancing operational capabilities, expanding infrastructure, and improving cost efficiencies played a pivotal role in driving its strong Q3FY24 results.
PB Fintech Ltd (Policybazaar)
With a market capitalization of Rs. 50,384 crores, the shares of India’s largest online platform for insurance company started Friday’s trading session on a lower note at Rs. 1,150 compared to its previous close of Rs. 1,67.40.
During the trading session, the shares hit a low of Rs. 1,103, making a loss of around 5 percent and closed the day at Rs. 1,119 apiece.
Looking at the recent financial statements, the revenue increased by 7 percent from Rs. 1812 crores during the September quarter to Rs. 871 crores in the December quarter. In addition, net profits showcased a transition from a net loss of Rs. 21 crores to Rs. 37 crores during the same period.
Comparing these metrics on a YoY basis, the net profits zoomed by 43 percent from Rs. 610 crores during Q3FY23 to Rs. 871 crores in Q3FY24. On the other hand, the net profits transformed from a net loss of Rs. 88 crores to a net profit of Rs. 37 crores during the same timeframe.
PB Fintech’s robust performance in Q3FY24 can be attributed to its sustained revenue growth, cost management strategies, and successful implementation of new business initiatives across its online insurance and lending platforms.
Zomato Ltd
With a market capitalization of Rs. 1,47,026 crores, the shares of online food delivery company started Friday’s trading session on a higher note at Rs. 168 compared to its previous close of Rs. 165.45.
During the trading session, the shares hit a high of Rs. 173.50, gaining around 2 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 166 apiece.
Looking at the recent financial statements, the revenue increased by 15 percent from Rs. 2,848 crores during the September quarter to Rs. 3,288 crores in the December quarter. In addition, the net profits magnified by 283 percent from Rs. 36 crores to Rs. 138 crores during the same timeframe.
Comparing these metrics on a YoY basis, the net profits zoomed by 69 percent from Rs. 1,948 crores during Q3FY23 to Rs. 3,288 crores in Q3FY24. On the other hand, the net profits showcased a transition from a net loss of Rs. 347 crores to Rs. 138 crores during the same period.
Revenue from the food delivery business grew by 5 percent, while the quick commerce division more than doubled its revenue. Further, analysts remain positive about Zomato’s growth outlook, emphasizing the long-term opportunities despite challenges in the food industry. The company’s strong performance was also reflected in its stock price, which rose more than 200 percent over the past year.
Written By Vaibhav Patil
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