Tracxn Q1: Profit Jumps To INR 1.27 Cr, Revenue Grows 3.6% YoY

SUMMARY

Tracxn’s revenue surged over 84% from INR 68.93 Lakh in Q1 FY24 but declined 10.5% from INR 1.42 Cr in Q4 FY24

Revenue from operations rose 3.6% to INR 20.53 Cr in Q1 FY25 from INR 19.82 Cr in the year-ago quarter

During Q1 FY25, Tracxn’s overall spending stood at INR 20.27 Cr, up 2.1% from INR 19.84 Cr in the year-ago period

Market intelligence platform Tracxn Technologies posted a profit after tax (PAT) of INR 1.27 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25), a 84.6% jump from INR 68.93 Lakh in the year-ago quarter.

However, on a quarter-on-quarter (QoQ) basis, Tracxn reported a 10.5% decline in its PAT from INR 1.42 Cr in Q4 FY24.

Revenue from operations stood at INR 20.53 Cr in Q1 FY25, up 3.6% from INR 19.82 Cr in the corresponding quarter previous year. On a QoQ basis, operating revenue rose 1%.

The startup said that 39% of its revenue came from India, while 61% came from the international market.

Tracxn’s total expenses stood at INR 20.27 Cr during the quarter under review, up 2.1% from INR 19.84 Cr in the year-ago period.

Employee costs emerged as the biggest expense for Tracxn during the quarter review. The company spent INR 17.67 Cr towards employee benefit expense in Q1 FY25 as against 17.37 Cr in Q1 FY24.

Founded by Abhishek Goyal and Neha Singh in 2013, Tracxn is a market research and data platform that tracks company financials and captables of entities worldwide.

It caters to a wide range of clients including private market investors such as venture capital and private equity firms and investment banks as well as corporates, government agencies, government banks, academic institutions, and startup accelerators.

Currently, Tracxn covers private company financials across more than 20 countries and cap tables across more than 15 countries.

In the quarter ended June 30, 2024, Tracxn added 101 new customers. With this, Tracxn’s customer base rose to 1,413 in Q1 FY25 from 1,312 in Q4 FY24.

The company said it has been investing across various growth initiatives that are expected to fuel new customer acquisition as well as customer expansion. It said it has been seeing a high volume of inbound leads from startups and has set up a dedicated team to focus on acquisition and expansion of customers in this segment.

Additionally, Tracxn has set up a specialised sales team for private equity as well as doubled down the data production specifically for the PE customer segment.

Ahead of the earnings announcement, shares of Tracxn ended Wednesday’s (July 31) trading session 3% lower at INR 94.44 apiece on the BSE.

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