Overview
- Revenue from operations rose 37% year-on-year to Rs 380 crore, while consolidated net loss increased to about Rs 59.3 crore.
- Instahelp posted an adjusted EBITDA loss of roughly Rs 44 crore in the quarter and recorded about 468,000 orders in October as scaling relied on training support and discounts.
- Excluding Instahelp, adjusted EBITDA was about Rs 10 crore, indicating the core India consumer services business remains marginally profitable.
- International operations in the UAE and Singapore reached adjusted EBITDA breakeven, while the group reported an adjusted EBITDA loss of Rs 35 crore.
- Morgan Stanley said results were broadly in line and kept an Underweight rating, as rivals Snabbit and Pronto expand similar instant-help models with fresh funding.