Happy Monday! Ronnie Screwvala-led Upgrad is closing in on US edtech firm Udacity, with a fresh fundraise likely to seal the deal. Details of this and more in todays ETtech Morning Dispatch.
OLA FY23 Revenue: ANI Technologies also houses Olas subsidiaries including Ola Financial, Ola Fleet and Ola Stores. On a consolidated basis, the firm reported Rs 772 crore in loss, while sales income came up to Rs 2,799 crore.
Net profit at Netflix India soared 75% last fiscal to Rs 35 crore, from Rs 20 crore in FY22, showed regulatory filings with the Registrar of Companies (RoC).
Among its major cost items, Slice reported a massive jump in employee costs as the startup expanded its strength significantly in the last fiscal. Its employee costs for FY23 shot up to Rs 287 crore from around Rs 99 crore.
Life insurance payouts declined by about Rs 6,000 crore in 2022-23 due to a lesser number of death claims compared to the previous year, impacted by COVID-19. The industry paid a total benefit of Rs 4.96 lakh crore in 2022-23, compared to Rs 5.02 lakh crore in FY22. Benefits paid on surrenders/withdrawals increased by 25.62 per cent to 1.98 lakh crore in 2022-23, with public sector insurers accounting for 56.27 per cent.