The Startup India Insight
Filed inTweetShareRead later

OfBusiness FY24 Performance: Achieves Over 30% Net Profit

10 July, 20242 min read
OfBusiness, a leading B2B marketplace, has reported impressive financial results for the fiscal year 2024 (FY24).

The company's net profit surged by over 30%, surpassing the INR 600 Cr mark.

This remarkable growth highlights OfBusiness's robust performance and strategic initiatives in the B2B sector.

Advertisement

Record-Breaking Profit

OfBusiness achieved a net profit of INR 603 Cr in FY24, a significant increase from INR 463.2 Cr in the previous year. This remarkable 30% growth demonstrates the company's strong market position and its ability to capitalize on emerging opportunities.

Revenue Growth

The B2B marketplace also reported a substantial increase in operating revenue.

In FY24, OfBusiness's operating revenue surged by over 25%, reaching INR 19,296.3 Cr compared to INR 15,342.6 Cr in FY23.

This growth can attributed to the company's expanding customer base and diversified service offerings.

Oxyzo's Impressive Performance

OfBusiness's fintech arm, Oxyzo, also delivered exceptional results.

Oxyzo's net profit surged by 47% year-on-year, reaching INR 290 Cr in FY24.

This impressive performance underscores Oxyzo's growing influence in the fintech space and its contribution to OfBusiness's overall success.

Advertisement

Strategic Initiatives

OfBusiness's success can be attributed to several strategic initiatives.

The company has focused on expanding its product portfolio, enhancing customer experience, and leveraging technology to streamline operations.

These initiatives have not only driven revenue growth but also improved profitability.

Market Position

OfBusiness has solidified its position as a leading player in the B2B marketplace.

The company's ability to deliver consistent financial performance, coupled with its strategic focus on innovation and customer satisfaction, has strengthened its market presence.

Future Prospects

Looking ahead, OfBusiness well-positioned to sustain its growth trajectory.

The company plans to further diversify its offerings, explore new markets, and invest in cutting-edge technologies.

These efforts expected to drive continued growth and create long-term value for stakeholders.

News Summary

In summary, OfBusiness's impressive financial performance in FY24 underscores its strong market position and strategic vision.

With a net profit exceeding INR 600 Cr and robust revenue growth, the company poised for continued success in the B2B marketplace.

As OfBusiness continues to innovate and expand, it set to achieve new milestones and deliver sustained value to its stakeholders.


Leave a Reply

Your email address will not be published.Required fields are marked *

*

*