The global surge in the start-up culture has found a particularly significant foothold in India, presenting numerous growth opportunities. While the spotlight often shines on the possibilities, the financial intricacies of start-ups often remain in the shadows. It’s noteworthy that profitability is a milestone that typically takes time for these ventures.
Here’s a glimpse into the success stories of some young Indian firms that began their journey in the last decade and have already achieved profitability:
Humans of Bombay – Founded in 2014
After filing a copyright lawsuit against People Of India, the financial details of Humans of Bombay (HoB) came to the forefront. Reports indicate that HoB turned a noteworthy Rs 3.2 crores in profits.
Meesho – Founded in 2015
Meesho proudly announced reaching profitability at the consolidated profit after-tax level. The previous year witnessed a remarkable 43 percent increase in orders, hitting a milestone of 1 billion orders, accompanied by a substantial 54 percent boost in revenue.
Physics Wallah – Founded in 2020
Physics Wallah, a venture monetized in 2020, has reported three consecutive years of profitability, with FY23 profits reaching Rs 108 crore, Forbes reported. Anticipating a tenfold revenue surge in 2023-24, the edtech unicorn attributes this growth to its expanding business.
Groww – Founded in 2016
Groww, facilitating investor access to financial offerings, recorded a significant increase in net profit, exceeding 2.5 times the previous figure to reach Rs 6.8 crore in the fiscal year 2022.
Mamaearth – Founded in 2016
Mamaearth reported a net profit of nearly Rs 20 crore, coupled with an impressive 102 percent increase in revenue, reaching Rs 952 crore during the fiscal year. Attaining unicorn status, the D2C brand secured $52 million in funding at a valuation of $1.2 billion.
Udaan – Founded in 2016
Udaan’s Capital division, offering credit services, reported a 10% revenue growth to Rs 73.29 crore in FY22. However, profit decreased from Rs 2.27 crore to Rs 1.26 crore during the same period.
Infra.market – Founded in 2016
Infra.Market, a construction goods and services platform, showcased impressive growth, expanding 17 times compared to FY20, surpassing Rs 6,200 crore in FY22, accompanied by a 21-fold increase in profits.
Oxyzo – Founded in 2016
Oxyzo nearly tripled its after-tax profit to Rs 197 crore in FY23, compared to Rs 69 crore in FY22. Simultaneously, its income surged substantially, reaching Rs 562 crore from Rs 313 crore, meeting the credit requirements of over 5,000 MSMEs.
