• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Nation

Udaan’s Financial Woes Continue Despite New Fundraise, Revenue Stagnates

OMMCOM NEWS by OMMCOM NEWS
February 18, 2025
in Nation

Bengaluru:  B2B e-commerce platform Udaan is facing serious financial challenges despite securing fresh funds as the company’s revenue remained almost flat in FY24.

Its valuation also dropped sharply by 59.3 per cent to $1.3 billion, down from its peak of $3.2 billion, according to its financials.

This decline comes even as Udaan managed to cut its losses by 19.4 per cent over the year.

Udaan’s gross merchandise value (GMV) in FY24 saw only a 1.7 per cent growth, at Rs 5,706.6 crore from Rs 5,609.3 crore in the previous fiscal. This is a major setback for the company, as its GMV was much higher at Rs 9,900 crore in FY22.

The Bengaluru-based company primarily generates revenue from the sale of traded goods, platform fees, logistics services, credit services and advertising.

However, the sale of traded goods accounts for 98.5 per cent of its GMV, indicating a heavy reliance on this revenue stream.

Despite stagnant revenue, Udaan has been aggressively cutting costs to manage its finances.

The company reduced expenses in key areas, including employee benefits which was down by 35.4 per cent, logistics and packaging dropped 16.8 per cent, and outsourced manpower declined 39.3 per cent.

This cost-cutting helped bring total expenses down by 4.4 per cent to Rs 7,407.6 crore in FY24.

However, the cost of materials — the biggest expense for the company — increased by 4.2 per cent to Rs 5,576.8 crore.

Udaan’s losses reduced to Rs 1,674.1 crore from Rs 2,075.9 crore, according to its financials.

In an attempt to keep operations running, Udaan recently raised Rs 300 crore (over $35 million) in debt funding from investors such as Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital.

The company has raised about $1.9 billion in debt and equity funding so far. However, the report suggests that the company might soon need another round of funding.

The firm has managed to improve its EBITDA margin and operating cash flow in FY24.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Raina Reveals How 2013 Champions Trophy Gave Birth To ‘Dhoni Review System’

Next Post

Will Make J&K People Aware Of New Criminal Laws, Says CM Omar Abdullah After HM Shah’s Review Meet

Related Posts

Nation

‘The Emergency Diaries’ Chronicles My Journey During Emergency: PM Modi

June 25, 2025
Narendra Modi
Nation

We Salute Every Person Who Stood Firm In Fight Against Emergency: PM Modi

June 25, 2025
Axiom-4 Mission
Nation

Axiom-4 Mission To Launch Today From Florida’s Kennedy Space Center

June 25, 2025
Nation

EPFO Hikes Auto-Settlement Limit For Advance Claims To Rs 5 Lakh In ‘People-Centric Move’

June 24, 2025
Nation

US Travel Advisory Inaccurate, Will Discuss With Envoy: Meghalaya CM

June 24, 2025
Nation

PM Modi Speaks To Mauritian Counterpart, Discusses Strengthening Strategic Partnership

June 24, 2025
Next Post

Will Make J&K People Aware Of New Criminal Laws, Says CM Omar Abdullah After HM Shah's Review Meet

Centre Releases Over Rs 562 Crore To Bolster Rural Local Bodies In Punjab, Uttarakhand, Chhattisgarh

Sensex, Nifty End Flat Amid Mixed Global Cues

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.