Tech3 | How Delhivery, FirstCry, Mamaearth fared in Q2, Why Narayana Murthy thinks it doesn’t make sense for India to build an LLM; and more

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In today’s newsletter:

• How Delhivery, FirstCry, Mamaearth fared in Q2
• Why Narayana Murthy thinks building an LLM in India doesn’t make sense
• Slice has an NPA headache

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How Delhivery, Firstcry, Mamaearth fared in Q2

The second quarter of FY25 saw a mixed bag of results for key players in the Indian consumer and e-commerce space.

Delhivery delivers strong Q2 performance: Delhivery turned the corner, reporting a profit of Rs 10.2 crore , a significant improvement from the Rs 103 crore loss in the same period last year.

• The company's revenue rose 13% year-on-year (YoY) to Rs 2,189.7 crore, fuelled by the strong festive e-commerce season

FirstCry narrows losses: Brainbees Solutions, the parent company of FirstCry, saw a 26.4% YoY increase in revenue to Rs 1,904.9 crore in Q2 FY25.?

• While the company continues to operate in the red, its net loss has narrowed to Rs 62.85 crore, compared with a loss of Rs 119.4 crore in the same period last year?

Mamaearth faces headwinds: Honasa Consumer Limited, the parent company of Mamaearth, reported a loss of Rs 18.5 crore , a stark contrast to the profit of Rs 40 crore in the previous quarter and Rs 29.4 crore a year ago.

• The shift to a direct-to-consumer model under Project 'Neev' has impacted margins, with an EBITDA margin decline to -6.6%
• The company also said its key brand – Mamaearth – is growing slower than expected and it is taking steps to revive growth over the coming few quarters

Picture credit: Kalaido.ai

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