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Time of India
08-05-2025
- Business
- Time of India
Mukesh Ambani salutes Operation Sindoor and conveys appreciation for the Indian Armed Forces
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, has shared a message appreciating the dedication and service of the Indian Armed Forces in light of Operation Sindoor. His statement reflects a sentiment of unity and respect for the efforts undertaken to safeguard national interests, while highlighting the importance of collective resolve during challenging times. #Operation Sindoor Live Updates| From Sindoor to showdown? Track Indo-Pak conflict as it unfolds India hits Lahore's Air Defence Radars in proportionate response Pakistan tried to hit military targets in these 15 Indian cities, New Delhi thwarts strikes STATEMENT FROM MR. MUKESH D AMBANI, CHAIRMAN AND MANAGING DIRECTOR, RELIANCE INDUSTRIES LIMITED We are very proud of our Indian Armed Forces for Operation Sindoor. India stands united, fierce in resolve and unshakable in purpose, against the scourge of all forms of terrorism. Under the bold and decisive leadership of Prime Minister Narendra Modi, the Indian Armed Forces have responded with precision and power to every provocation from across the border. Prime Minister Modi's leadership has demonstrated that India will never remain silent in the face of terror and that we will not tolerate a single attack on our soil, on our civilians, or on the brave men and women who defend our nation. The last few days have shown that every threat to our peace will be met with firm and decisive action. The Reliance family is ready to support any measure in protecting our nation's unity and integrity. We like our fellow Indians believe – India seeks peace, but not at the cost of its pride, security or sovereignty. Live Events Together, we will stand. We will fight. And we will prevail. JAI HIND! JAI HIND KI SENA! His statement reflects a strong sense of national solidarity and shared commitment. As the country unites in a pivotal moment, Mukesh Ambani's words emphasize the importance of peace, security, and respect for the efforts of the Indian Armed Forces in upholding the nation's values.
Time of India
08-05-2025
- Business
- Time of India
Vedantu turns profitable in Q4 FY25 with record collections: CEO Vamsi Krishna
Bengaluru-based edtech startup Vedantu achieved profitability in the quarter ended March 2025, with collections rising 67% year-on-year to Rs 90 crore, cofounder and CEO Vamsi Krishna announced on Thursday. #Operation Sindoor Live Updates| From Sindoor to showdown? Track Indo-Pak conflict as it unfolds India hits Lahore's Air Defence Radars in proportionate response Pakistan tried to hit military targets in these 15 Indian cities, New Delhi thwarts strikes 'Q4 (January–March 2025) was our strongest quarter ever. We hit Rs 90 crore in collections—a 67% YoY growth—and became profitable, generating over Rs 6 crore in free cash flow (FCF). This wasn't even our peak quarter, which puts us on a clear trajectory for a cash flow-positive FY26,' Krishna wrote in a LinkedIn post. According to Krishna, Vedantu ended FY25 with Rs 284 crore in collections, marking a 55% increase from the previous year, while also reducing its cash burn by 30% to Rs 70 crore. Founded in 2011 by Krishna, Anand Prakash, Saurabh Saxena, and Pulkit Jain, the K12 edtech firm became a unicorn in September 2021 after raising $100 million in a funding round led by Temasek-backed impact investing fund ABC World Asia. In FY24, Vedantu's operating revenue rose by 21% to Rs 185 crore, while its net loss fell by 58% to Rs 157 crore. The company has not yet filed its FY25 financial statements with the Registrar of Companies (RoC). Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Vedantu's online business grew 33% in FY25, with growth accelerating to 70% year-on-year in the last two quarters. Initially launched as an online education platform, Vedantu has since expanded by opening multiple offline coaching centres. Vedantu's quarterly profitability comes after a period of significant challenges. In FY22, the company reported a net loss of Rs 696.3 crore, a 13% increase from the previous year. Total expenses during this period rose by 19% to Rs 890.9 crore, with employee benefit expenses increasing by 20% to Rs 489.3 crore. To manage costs, Vedantu underwent multiple rounds of layoffs in 2022. Several edtech companies have shifted to offline models after experiencing a slowdown in online operations following the Covid-driven surge. Krishna acknowledged that the edtech sector, particularly K12, has faced challenges post-Covid but believes the negative outlook is exaggerated. In January, ET reported that this year could prove crucial for the sector as it aims to recover from the fallout of Byju's implosion by adopting sustainable business practices and focusing on delivering tangible results. Funding in the edtech sector nearly tripled to $608 million in 2024 from $207 million in the previous year, according to data from Venture Intelligence. However, this was still significantly lower than the $2.1 billion raised in 2022.
