Latest news with #Esop
Time of India
17 hours ago
- Business
- Time of India
Kissht reports 20% fall in revenue, net profits at Rs 160 crore in FY25
Academy Empower your mind, elevate your skills Mumbai-based consumer lending startup Kissht has reported an 18% fall in net profit to Rs 160 crore on overall revenue of Rs 1,353 crore in financial year 2025, down 20% profits before tax and Esop cost stood at Rs 253 business was impacted by the overall slowdown in consumer lending business and the shutting down on high-margin ultra short duration personal loans, one of the core products of digital lending startups like IPO-bound startup is only processing consumer loans which have a tenure of more than six months and has also entered into secured credit products like loan against property and small business loans as it attempts to become a full-stack digital lending a note issued by rating agency Crisil on Si Creva, the group non-banking finance company of Kissht, it noted that disbursements halved to Rs 9,776 crore compared to Rs 18,527 crore in fiscal the firm's focus on longer tenure loans, the AUM (assets under management) had grown to Rs 4,129 crore from Rs 2,670 crore in fiscal 2024, with 99.5% of the loans being of tenure of more than six months. This share was 65% a year muted performance comes in the context of the overall slowdown in the unsecured consumer lending business which impacted digital lending startups in a major way.'While the interest rate cycle has turned and there is more positivity among companies, banks and the larger NBFCs haven't opened up fully yet, we are expecting things to become better in the second half of the current year,' said a founder of a consumer lending Moneyview and Kreditbee are the three major consumer lending startups which are lining up for their IPOs. While these startups have started working on getting their internal processes in place, ET reported on June 26 that these companies might not actually hit the public market before the end of this year or beginning next founded in 2015, by Ranvir Singh and Krishnan Vishwanathan, ex-McKinsey professionals, has raised $133 million in equity funding from Vertex Ventures, Vetureast and others.
Time of India
2 days ago
- Business
- Time of India
Blinkit tops Zomato in order value as Eternal posts strong Q1 growth
BENGALURU: Blinkit has overtaken Zomato 's core food delivery business in net order value for the first time, marking a key shift in the business composition of Eternal Ltd, the listed parent of Zomato, Blinkit, Hyperpure and event-ticketing arm District. The company reported a 70% year-on-year rise in consolidated revenue to Rs 7,167 crore for the quarter ended June 30, 2025, driven largely by the growth of its quick commerce vertical. The company posted a net profit of Rs 25 crore, down 90% from Rs 253 crore a year earlier, due to higher investments in Blinkit and other emerging verticals. Adjusted Ebitda declined 42% year-on-year to Rs 172 crore. Revenue from Blinkit more than doubled to Rs 2,400 crore during the quarter, while Zomato's food delivery business grew 16% to Rs 2,261 crore. Blinkit's net order value (NOV) rose 127% year-on-year to Rs 9,203 crore, slightly surpassing Zomato's Rs 8,967 crore. This is the first quarter where Blinkit has exceeded the company's core food delivery arm in order value, indicating a shift in strategic weight toward quick commerce. Zomato's food delivery unit showed stable growth, with a 10% sequential increase in revenue and steady improvement in margins. Adjusted Ebitda margin for the vertical improved to 5% of NOV, up from 3.9% in the year-ago period. Monthly transacting users rose to 22.9 million from 20.3 million last year, while average monthly transacting restaurant partners stood at around 2,38,000. Blinkit, which operates a network of over 500 dark stores, continues to be loss-making at the Ebitda level, reporting a loss of Rs 162 crore for the quarter, although this improved marginally from Rs 178 crore in the previous quarter. Eternal announced the incorporation of a new subsidiary, Blinkit Foods, to explore parallel commerce models including cooked food delivery. Hyperpure, the company's B2B supplies vertical for restaurants, generated Rs 2,295 crore in revenue, up 89% year-on-year. District, Eternal's going-out and ticketing vertical, saw revenue more than double to Rs 207 crore from Rs 95 crore in the same quarter last year. During the quarter, the company granted around 1 million stock options to employees under its Esop plans, valued at about Rs 26 crore. Eternal has said Esops are a key lever in long-term talent retention, especially as it scales newer businesses. Eternal closed the quarter with a consolidated gross order value (GOV) of Rs 21,729 crore across its platforms, up from Rs 13,544 crore a year ago. The company said it would continue to invest in growing Blinkit and Hyperpure, even as it keeps food delivery profitable and cash-generating. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
6 days ago
- Business
- Time of India
Paytm shares hit Rs 1,000-mark on business recovery, revenue growth
After taking a sustained hammering on the bourses in the wake of its regulatory challenges, Paytm parent One 97 Communications ' shares have bounced stock has rallied 117% in the past 12 months, compared to a 1.9% rise in the Sensex. It is trading close to its 52-week high of Rs 1,063 per share, seen in mid-December company's shares touched the Rs 1,000-mark for the first time in six months on Wednesday, during a five-day rally. The stock cooled off in Thursday's session amid selling counter opened at Rs 1,005.25 apiece on the BSE today, against the previous close of Rs 1,004.50 per share. The stock closed at Rs 999, down 0.55%, against a 0.45% decline in the benchmark Sensex. Paytm has been recovering after being hit by regulatory actions last year. The company got approval from the National Payments Corporation of India (NPCI) last October to restart onboarding Unified Payments Interface (UPI) customers after an eight-month ban. The licence came after the Reserve Bank of India advised the UPI operator to review Paytm's request to become a third-party application provider (TPAP) and diversify app providers to reduce concentration then, the digital payments platform has been working to add UPI customers through its partner banks: Yes Bank HDFC Bank and State Bank of India The company is also gradually improving its business metrics, led by healthy momentum in the merchant business, according to brokerage Motilal Oswal. Meanwhile, disbursement volumes and gross merchandise value (GMV) are also growing at a steady of customer onboarding, a stable number of monthly transacting users (MTUs), and continued recovery in the financial services business are likely to drive healthy growth in revenues for Paytm, analysts at Motilal Oswal parent saw its consolidated net loss slightly narrow to Rs 540 crore in the three months ended March 2025, from a Rs 550 crore loss in the same quarter last year. The company had stated that its bottom line, without exceptional losses, is at a breakeven point. For the March quarter, Paytm recorded exceptional losses of Rs 522 crore, including a one-time Esop cost of Rs 492 crore Paytm's Esop cost is expected to drop to Rs 75 crore in the June quarter, from Rs 169 crore in the March quarter. The company said it achieved an operational profit of Rs 81 crore, after excluding Esop costs, in the March revenue declined 16% year-on-year to Rs 1,912 crore in Q4FY25 from Rs 2,267 crore a year ago. The company is scheduled to post its financial results for the June quarter on July has expressed strong confidence in its merchant loan distribution business, where it assists with both distribution and company has now begun providing a Default Loss Guarantee (DLG) for select portfolios with specific lenders. This move, according to Paytm, will help expand its merchant base and enhance its financial services revenue in the long factoring in the cost of DLG, Paytm's contribution margin (excluding UPI incentives) has grown to 54%, on improved payment processing margins and rising high-margin financial services income. The company expects these margin trends to continue. Contribution margin refers to the revenue left with a payments platform after deducting variable costs for processing the transactions.
Time of India
14-07-2025
- Business
- Time of India
Swiggy rolls out Rs 150 crore in fresh Esops under 2024 plan
Academy Empower your mind, elevate your skills Food and grocery delivery platform Swiggy has announced a fresh round of employee stock option (Esop) grants, valued at Rs 150 to a filing with the NSE dated July 11, Swiggy has issued 38.86 lakh stock options under its Esop 2024 plan. Based on the previous market close of Rs 385.15 per share, the total value of the grant is estimated to be around Rs 150 stock options come with an exercise price of Re 1 each, converting into fully paid-up equity shares once vested. They may be exercised at any point following the vesting period, right up to the company's April, the Sriharsha Majety-led company had introduced an Esop package valued at Rs 443.4 crore for eligible employees, as disclosed in a separate NSE follows a similar development reported by ET in January, when Swiggy stated in an exchange filing that it had "approved the allotment of 2,61,93,411 equity shares of the Company pursuant to the exercise of stock options by the eligible employees, under Swiggy ESOP Plan 2015 & Swiggy ESOP Plan 2021."During the January–March quarter, Swiggy's net loss nearly doubled to Rs 1,081 crore, primarily due to the rapid expansion of its quick commerce vertical, including the addition of close to four dark stores per this aggressive push also boosted Swiggy's consolidated operating revenue, which rose 45% year-on-year to Rs 4,410 of 11:15 am on Monday, Swiggy's stock was trading at Rs 389.60 per share.
Time of India
12-07-2025
- Business
- Time of India
Flipkart's $1.5 billion Esop buyback timeline; from 2008 to now
Academy Empower your mind, elevate your skills Ecommerce leader Flipkart announced a $50 million employee stock buyback programme on Friday, which will provide liquidity to around 7,000–7,500 staff members ahead of the Walmart-owned company's initial public offering (IPO).All active employees as of July 5 can liquidate up to 5% of their outstanding options vested since July 6, 2022, Flipkart group chief executive Kalyan Krishnamurthy wrote in a note to employees. The buyback price is set at $174.32 per option, with payments expected in August company has been a major wealth creator among its peers in India's internet economy, with multiple employee stock option plan (Esop) buybacks aggregating to $1.5 billion across various tranches in the past six to seven the company was acquired by Walmart in 2018, Flipkart undertook a $500 million buyback as part of the deal. It was only for current employees, however, who could sell their vested stock options. It was completed over three to four disbursed a fresh set of Esops to its senior and middle-level staff in an attempt to retain key talent after Walmart took over the reins. The Esop distribution was part of the company's annual performance assessment Bengaluru-based etailer purchased $80-85 million worth of shares from employees as part of its $3.6 billion financing round. This was extended to only existing last major Esop buyback was in 2023, when it bought back stock options worth $700 million from current and former employees after the PhonePe split. More than 24,000 individuals, including former Flipkart and Myntra employees, were eligible for payments from the was the largest Esop buyback by an internet firm in India, topping the $500 million offered by Flipkart when Walmart acquired it in offer Esops for various reasons, including:Esop is an essential tool that provides liquidity to employees without the company having to go public. Eligible staff can offload a portion of their vested shares back to the company, offering them financial returns without the company needing to take the IPO are financial recognition that helps retain employees and keep them motivated. Some companies also combine buybacks with re-grants of options to maintain buybacks free up shares granted to employees, enabling companies to reissue them to new or existing employees.
