It also wanted to trade in these products.
Over the years, OfBusiness acquired a clutch of manufacturing and processing units, which have been merged into a main entity, ahead of the firm's Initial Public Offering slated for end-2025.
The production of materials in-house has driven down costs giving OfBusiness an edge in the spaces that it operates - construction and industrial steel, finished goods, agri-products, chemicals and polymers. And also lifted its profits. Operating profits rose to ₹666 crore in FY24 from ₹435 crore in FY23 pushing up net profits to ₹325 crore from ₹280 crore.
Today, transactions on the platform average one lakh a month; materials bought by customers could be sourced or made at its own units. "This contributes the bulk of our profits," says co-founder and CSO Vasant Sridhar. In an unwritten rule, every order must be margin positive. As Sridhar explains, in a high-repeat order business there is the risk of losses continuing. "If you make a loss in one order, you cannot suddenly increase the price and so the losses will rise," he points out.
هذه القصة مأخوذة من طبعة December 09, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة December 09, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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