OfBusiness, founded in 2015 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Nitin Jain, has established itself as a leading business-to-business (B2B) ecommerce platform in India. Catering primarily to small and medium enterprises (SMEs), OfBusiness offers a diverse range of products, including steel, non-ferrous metals, chemicals, agricultural products, polymers, energy commodities, textiles, construction materials, and leather.
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OfBusiness has reported a significant 25.7% year-on-year increase in operating revenue for the fiscal year ended March 31, 2024, reaching Rs 19,296.27 crore. Concurrently, the company’s consolidated net profit rose by 30% to Rs 602.97 crore, up from Rs 463.25 crore in the previous year.
Sectoral Impact:
The company’s robust financial performance is underpinned by its strategic expansion across sectors such as manufacturing and infrastructure, bolstering its position as a preferred partner for SMEs seeking reliable B2B commerce solutions.
Operational Strategy:
OfBusiness has integrated acquisitions as a pivotal growth strategy, having acquired 19 companies to date. This approach not only enhances market penetration but also diversifies its product offerings, thereby enriching its value proposition to customers.
Technological Integration:
Leveraging advanced technological solutions, OfBusiness continues to enhance operational efficiencies, optimize supply chain management, and deliver superior customer service.
Market Position and Future Outlook:
OfBusiness remains optimistic about its future amidst a dynamic economic landscape. The company’s strong financial performance underscores its resilience and strategic foresight in navigating market challenges and capitalizing on emerging opportunities.
The impressive growth in operating revenue and net profit reaffirms OfBusiness’s commitment to innovation, customer-centricity, and sustainable growth. As it continues to expand its footprint and enrich its service portfolio, OfBusiness is poised to sustain its leadership in the B2B ecommerce domain, driving economic empowerment for SMEs across India.
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