Aqua-tech firm 'AquaExchange' revenue hits 
100 crore in FY24
AquaExchange, a full-stack aquaculture technology company, did not continue on its growth trajectory from FY23, when its operating revenue increased by 100%. However, compared to FY23, the company from Bhimavaram was able to boost revenue by 36% for the fiscal year that ended in March 2024.
According to its financial statement, AquaExchange's operating revenue increased from Rs 76.73 crore in FY23 to Rs 104.88 crore in FY24.
AquaExchange's other revenue rose significantly to Rs 33 lakh during the previous fiscal year, bringing its total revenue to Rs 105.10 crore.
AquaExchange, which has been in business for four years, assists aquaculture producers in using technology to boost crop yields, reduce crop hazards, and fight rising input prices. Its product line comprises feed automation (AquaBot) and power management (PowerMon) devices.
In FY24, the company's spending increased due to higher costs in a number of important areas, such as employee benefits. In comparison to the previous year, when the cost of materials utilized was Rs 71.18 crore, this year's cost was Rs 94.36 crore.
Recently, MobiKwik, which was headed for an IPO, had a strong rebound in the fiscal year that ended in March 2024, with a 62% increase in revenue.
After losing 84 crore in FY23, the fintech company returned to profitability in FY24. That shouldn't affect its chances of going public in any way. According to its consolidated annual financial results sourced from the Registrar of Companies (RoC), MobiKwik's revenue from operations increased to 875 crore in FY24 from 539 crore in FY23.
In FY24, MobiKwik primarily made money from commissions on recharges, processing, and interest on servicing loans, payment gateways, and technologies platforms. The company increased its loan offerings through lending partners in the most recent fiscal year (FY24), resulting in a threefold increase in its lending operational costs to 270 crore, up from 69 crore in FY23.
