The numbers that proved developer-first works By March 2025, Razorpay had become India’s payment infrastructure backbone through a strategy most fintech companies overlooked: winning developers before winning merchants. FY25 consolidated revenue reached ₹3,783 crore, up 65% from ₹2,296 crore in FY24. This marked the company’s strongest growth year as payment gateway, business banking, and international […]

By March 2025, Physics Wallah had built something rare in Indian edtech: a profitable business model scaling toward IPO. FY25 revenue reached ₹2,887 crore, up 49% from ₹1,941 crore in FY24. EBITDA turned positive at ₹193 crore against a loss of ₹829 crore the previous year. Net loss narrowed 78% to ₹243 crore from ₹1,131 […]

By March 2025, Tata 1mg had become India’s dominant online pharmacy. Revenue hit ₹2,360 crore, up 22% from the previous year. Market share stood at 31%, ahead of PharmEasy and Apollo 24/7. The company cut advertising costs by 37% in FY24 while maintaining revenue growth. Losses narrowed 75% to ₹313 crore. This happened while competitors […]

Most beauty tech companies went public bleeding cash. Nykaa listed profitable. FY25 revenue reached ₹9,800 crore, up 24% from FY24. The beauty vertical alone posted GMV of ₹11,775 crore with 30% year-over-year growth. EBITDA grew 37% to ₹474 crore. Net profit jumped 81% to ₹72 crore. The EBITDA margin improved to 6.5% in Q4 FY25, […]

FY25 revenue reached ₹12,313 crore, up 17.8% from the previous year. This made Zoho the first bootstrapped Indian startup to cross the ₹12,000 crore milestone. Net profit stood at ₹3,191 crore, down slightly from FY24 as the company poured investments into AI infrastructure and product development. The Zoho suite contributed 57% of revenue at ₹7,051 […]

When Byju’s signed Lionel Messi as its global brand ambassador in November 2022, the company positioned it as a masterstroke. The world’s most expensive footballer would help the edtech giant expand globally. One month earlier, Byju’s had laid off 2,500 employees. The optics were catastrophic. The math was even worse. Between 2016 and 2022, Byju’s […]