Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Here’s a breakdown of the key numbers and takeaways: PB Fintech Headline numbers: January-March operating revenue rose 25% on year to Rs 1,089 crore. Net profit stood at Rs 60 crore, against a net loss of Rs 9 crore in the same quarter last year. Key takeaway: Core insurance business performed well, with insurance premiums during the quarter up 47% on year.
Broader slowdown in the unsecured credit market impacted its unit Paisabazaar. By the way: Group CEO Yashish Dahiya expected a net profit of around Rs 80 crore in FY24, but tax payouts impacted the numbers. The company reported Rs 64 crore in profit after tax for the full year.
Zomato Deepinder Goyal, CEO, Zomato Headline numbers: Operating revenue for the three-month period grew 73% on year to Rs 3,526 crore. Zomato posted a net profit for the fourth straight quarter at Rs 175 crore, against a loss of Rs 188 crore last year. Key takeaway: Aggressive push underway to expand quick commerce platform Blinkit.
Dark store count to double to1,000 by end-FY25. By the way: Esop costs almost doubled on year to Rs 161 crore in the March quarter; Esops to Blinkit leadership team and senior employees expected to push it up further. Delhivery Headline numbers: Operating reve.