Lenskart revenue jumps to Rs 3,788 crore in FY23; trims losses to Rs 102 crore
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Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore
Ugro Capital, a non-banking finance company catering to small and medium businesses, has raised fresh capital of Rs 1,322 crore from a mix of new and existing investors and family offices through compulsory convertible debentures and warrants.Samena Capital led the round injecting Rs 500 crore, while hedge fund Aregence, along with family offices, also committed capital, the company said in a filing with the stock exchanges Thursday.Ugro’s founder, board members and management collectively...
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Coforge’s net profit declines 6% to Rs 223 crore
Coforge’s net profit declined by 6% quarter on quarter (QoQ) at Rs 223 crore in the March quarter of FY24. The profit for the company grew by a whopping 94.8% on-year, from a profit of Rs 115 crore in Q4 FY23.The IT firm’s annual net profit for fiscal 24 stood at Rs 808 crore, up 16.5% year on year. Consolidated revenue stood at Rs 2,358 crore in the just concluded quarter, up 1.5% sequentially and 8.7% on-year. Margins stood at 19% in Q4 up from 18% in Q3 FY24.Coforge's fresh order intake more...
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PhonePe’s Rs 800 crore in-house bets; layoffs at Allen
Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Contractual hiring picks up in IT■ ETtech Done Deals■ World Bank on DPI adoption PhonePe poured bulk of past year’s investments into insurance biz 109546396Walmart-owned fintech giant PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow...