Author: yourrevenue

CoinDCX on Friday announced that it had registered itself as the “reporting entity” with the Ministry of Finance’s Financial Intelligence Unit (FIU). As per the Prevention of Money Laundering Act (PMLA), 2002, a reporting entity is required to conduct KYC verification of the customers and maintain their records. If required, they also need to share records of suspicious transactions with the authorities. “We welcome the government’s move to include the VDA industry under the Prevention of Money Laundering Act, 2002 (PMLA). This will pave the road towards increased accountability and implementation of best practices by the VDA industry. As an exchange advocating for regulations and compliance, we are…

Airtel Payments Bank, Bharti Airtel’s fintech arm, will likely clock over Rs 1,300 crore in revenues in FY23, a year-on-year growth of over 40%, according to people aware of the matter. The reasons for the strong revenue growth can be attributed to a significant surge in the monthly transacting user base and cash management system business, an increase in fee income from cross-selling of financial products like insurance and loans, etc, and growth in consumer deposits. In FY22, Airtel Payments Bank reported revenues of Rs 941 crore and a profit of Rs 9 crore. The company is targeting to list…

Fintech startup Khatabook’s net loss widened over 3X to INR 111.1 Cr in the financial year 2021-22 (FY22) from INR 32.5 Cr in the previous fiscal year as its cash burn increased with the growth in business. The startup’s revenue from operations quadrupled to INR 71.1 Cr from INR 16.9 Cr in FY21. It earned most of its revenue from software development and consultancy services. In FY22, Khatabook earned INR 58.1 Cr from software development and consultancy services, a jump of 405% from INR 11.5 Cr in FY21.  Total income, including other income, surged to INR 78.1 Cr from INR…

India Inc’s revenue growth is expected to touch double digits in fiscal 2024 despite a global slowdown and interest rate hikes, an analysis of 748 listed companies from fiscal 2011 onwards (excluding those from the oil and gas, banking, financial services, and insurance sectors) shows. his will be driven by a 10-12% growth in revenue for the non-commodity sectors, even as commodity prices remain benign. Importantly, this will be on the back of a 16-18% on-year rise in revenues in fiscal 2023 after the commodity supercycle boost in fiscal 2022 The revenue increase in fiscal 2023 has been led by…

Edtech startup Doubtnut raised $31 million in a series B round led by SIG, Sequoia, WaterBridge, and ON Mauritius in 2021. The fundraise, however, doesn’t seem to have had any significant impact on the scale for the seven-year-old firm as it registered only Rs 10 crore in revenue during the financial year ending in March 2022. Doubtnut’s revenue from operations grew 5.3X to Rs 10.83 crore during FY22 with mounting losses of Rs 179.24 crore in the last fiscal year, as per the annual financial report filed with the Registrar of Companies. The sale of subscription services is the only…

Even as the tech giant Apple Inc bets big on India, around 300-odd foreign companies generated as much as $73.3 billion as revenue from the country in 2022, registering a year-on-year growth of 40 percent. While the rupee revenue of Wilmar International jumped over four-fold to $8.3 billion during the year, the top-line of BHP Group and Saudi Arabian Mining Co has doubled during the year. The three companies along with KIA Corp account for over a fourth of the combined India revenues of the sample, data sourced from Bloomberg revealed.While India contributed 11.2 percent to Wilmar International’s total revenue,…

Multiple YouTube creators are claiming that a YouTube bug is costing them between 50% to 90% of their income, both putting their future as video creators in doubt as well as seriously harming their economic well-being and even their ability to financially survive as video creators. “It completely dropped,” says Hessel Broekstra, speaking about his YouTube ad revenue. “To get into numbers, I was hitting $100 days and it dropped down to like $6 days. So that is over 90% decrease, which is crazy.” A YouTube creator who owns the Endpoint101 channel shared his YouTube analytics, also showing a steep…

Arrowmark Financial (NASDAQ: BANX) reported fourth-quarter EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $6.47M versus the consensus estimate of $5.9M. Arrowmark Financial’s stock price closed at $18.68. It is up 7.98% in the last 3 months and down -11.51% in the last 12 months. Arrowmark Financial saw 0 positive EPS revisions and 1 negative EPS revision in the last 90 days. See Arrowmark Financial’s stock price’s past reactions to earnings here. According to InvestingPro, Arrowmark Financial’s Financial Health score is “performance”. Check out Arrowmark Financial’s recent earnings performance, and Arrowmark Financial’s financials here. Stay…

Twitter’s earnings and revenue in December dropped about 40% from the previous year, The Wall Street Journal reports(Opens in a new window), citing “people familiar with the matter.” Twitter is currently faced with annual interest payments estimated at over $1 billion. Since Elon Musk acquired it in October, the company has also struggled to retain advertisers amid recession fears and industry leaders expressing concern about lackluster content moderation. More than 70 of Twitter’s top 100 advertisers prior to the takeover weren’t spending any money on ads(Opens in a new window) as of Feb. 25, Reuters reports. This includes ketchup maker Heinz and food company Nestle,…

Agritech startup DeHaat’s revenue is likely to grow by over 80 percent this fiscal to around Rs 2,300 crore on better sales of farm inputs to farmers and trading of agriculture produces in domestic and overseas markets, its CEO Shashank Kumar said. DeHaan will also hit positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) by the end of this calendar year, he highlighted. DeHaat is a technology-based business-to-farmers platform that offers a complete range of agricultural services to farmers. These include the distribution of high-quality agricultural inputs, customized farm advisory, access to financial services, and market linkages for selling…