PhysicsWallah's net loss surges, Majety's long term vision to make Swiggy the go-to app and more | The Arc Pulse

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PhysicsWallah's net loss surges 13x to Rs 1,131 cr on non-cash expenses

Edtech firm PW (PhysicsWallah) reported a 2.6-fold jump in revenue from operations in FY24 to Rs 1,940.4 crore from Rs 744.3 crore in FY23, according to the company's consolidated financial statements. 

PhysicsWallah’s losses also widened by 13X (1,246%) to Rs 1,131 crore in FY24, compared to Rs 84 crore reported in FY23. While the loss was due to the spike in the company's expansion investments, a large part of it was also driven by non-cash expenses. 

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From: Shraddha S.

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#Indepth

Swiggy's Sriharsha Majety: A quiet founder in a cutthroat race

Sriharsha M. has a clear, long-term vision to make Swiggy the go-to app for consumers’ everyday needs. The company aims to engage 100 million users, each completing 15 transactions a month across food, groceries, medicines and mobility.

His strategy of establishing an in-house delivery arm initially gave Swiggy the lead in both attracting investment from deep-pocketed backers and capturing market share in food delivery.

Majety’s singular focus on high-level strategy has brought attention to his weaknesses in day-to-day operations and execution, which are crucial for any hyperlocal commerce company. Frequent turnover in top leadership has further complicated Swiggy’s path forward.

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From: Aditi Shrivastava

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FY24: Samsung India’s royalty costs up 50% to $394 mn, profit at $971 mn

• Samsung India, the country’s largest electronics manufacturer, increased the cost royalty payment to the parent company in South Korea by 50% to Rs 3,322 crore ($394 million) for the financial year ending March 2024, according to the company’s filings to the Registrar of Company (RoC) sourced from Tofler.
• In FY24, the company's total revenues increased by 4% year-on-year to Rs 102,626 crore ($12.2 billion), and Samsung India Electronics' operating revenues increased by 3% to Rs 99,541 crore—with Rs 96,565 crore coming from product sales and Rs 2,655 crore from services. The remaining came from other revenues.
• Samsung India also earned Rs 408 crore in FY24 through the Indian government's production-linked incentives (PLIs) to promote domestic manufacturing.

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From: Shraddha S.

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