Indiabulls Enterprises Q3 FY25 Results: Revenue Declines 11.38% YoY, Loss Widens by 15.76%
Indiabulls Enterprises announced its Q3 FY25 financial results on January 15, 2025. The company reported an 11.38% year-on-year (YoY) decline in revenue, which stood at ₹13.32 crore, while its loss widened by 15.76% YoY to ₹2.13 crore.
However, on a quarter-on-quarter (QoQ) basis, the company showed improvement, with revenue increasing by 0.6% and loss narrowing significantly by 82.35%.
Cost Management and Operational Performance
The company demonstrated cost optimization efforts, as Selling, General & Administrative (SG&A) expenses declined by 4.74% QoQ and 0.5% YoY.
Operating income for the quarter rose 86.03% compared to the previous quarter but saw a 9.41% decline YoY. Meanwhile, Earnings Per Share (EPS) stood at ₹-0.1 for Q3, reflecting a 23.08% YoY improvement.
Stock Performance & Market Position
Indiabulls Enterprises delivered a -3.72% return over the last week, a 77.15% gain over the past six months, and a -2.05% return year-to-date. The company currently holds a market capitalization of ₹379.82 crore, with a 52-week high of ₹24.51 and a low of ₹9.72.
Spencer’s Retail Launches Quick Commerce Platform ‘Jiffy’ Amid Market Shift
Spencer’s Retail Ltd. has introduced its quick delivery service, Jiffy, while streamlining operations by exiting loss-making markets to focus on Uttar Pradesh and West Bengal. This strategic shift comes in response to the growing preference for online grocery shopping.
The Kolkata-based retailer will transition its existing Spencer’s ordering app into Jiffy, which will offer both on-demand and scheduled deliveries within 30 minutes. The company sells FMCG, fashion, food, staples, personal care, home essentials, electronics, and more.
Quick Commerce’s Impact on Retail
Shashwat Goenka, Chairman of Spencer’s Retail Ltd., emphasized the growing dominance of quick commerce, noting that urban consumers are shifting from traditional e-commerce to faster delivery models. The company has closed over 45 stores across South and North India in the last two quarters and now operates 89 Spencer’s stores, 34 Nature’s Basket outlets, and Artisan Pantry locations.
Quick commerce players such as Blinkit, Instamart, and Zepto have reshaped India’s retail landscape, affecting both small mom-and-pop stores and established retailers. According to a Chryseum report, India’s quick commerce market was valued at $3.34 billion in 2024 and is projected to nearly triple to $9.95 billion by 2029.
Future Plans & Financial Performance
Spencer’s aims to double online orders within the next three quarters, with 10-11% of sales already coming from e-commerce.
For the December quarter, Spencer’s Retail reported a 24.3% decline in consolidated revenue to ₹417 crore, primarily due to store closures. Despite a flat like-for-like sales performance amid a soft festive season, the company achieved a milestone EBITDA (pre-INDAS) positive result, supported by a strong gross margin of 19.7% and cost control measures.
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