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The Indian Startup FY23 Financials Tracker monitors the financial performance of leading startups in India. This initiative provides insights into the economic health and growth trajectories of these companies, offering valuable data for investors, analysts, and industry stakeholders navigating the Indian startup landscape.
SUMMARY
A total of 135 Indian new-age tech companies reported a combined operating revenue of INR 2.94 Lakh Cr in FY23
Of the 133 companies, 99 incurred a combined loss of INR 69,691 Cr in FY23
Inc42’s Indian Startup Financials Tracker FY23 aims to be your eyes and ears, updating you on these numbers as they unfold
In a landscape teeming with buzzwords like disruption, innovation and scalability, the stark reality of numbers often tells a different story. While 137 leading new-age tech companies in India have released their FY23 financials, the performance figures offer a cautionary tale.
Despite a cumulative operating revenue of a staggering INR 2.97 Lakh Cr, 102 of these companies reported a combined loss of INR 69,888 Cr in FY23. In contrast, the rest managed to eke out a collective profit of INR 11,718.6 Cr. The divide becomes more intriguing considering that 19 of these companies are listed.
In the ongoing fiscal year, Inc42’s Indian Startup Financials Tracker FY23 aims to be your eyes and ears, updating you on the financial performance of startups.
It’s important to note that FY23 was far from smooth sailing for the Indian startup ecosystem. Faced with dwindling funding, startups resorted to mass layoffs. In addition, various Indian startups adopted restructuring measures, including elimination of some business units and reductions in marketing budgets, to navigate the downturn.
While the capital crunch was painful and humbling, it also pushed startups to control their expenditure and focus on profitability. As such, FY23 financials are more than numbers. They reveal how Indian tech companies navigated the funding winter and showed resilience while continuing to push for growth. Now, let’s delve deeper into the financial performance of Indian startups.
Sourced from Inc42
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