MAM
CleverTap acquires Patch to empower in-app calling for mobile-first businesses
Mumbai: User engagement and retention cloud CleverTap has completed the acquisition of Patch, a technology that enables businesses to brand and embed communication channels — including in-app voice, chat, and push notifications — directly into consumer apps. The terms of the deal have not been disclosed.
Patch is designed to provide seamless, contextual, and secure communications between companies and consumers. Its in-app calling makes two-way communication privacy-compliant as there is no need to disclose caller or receiver telephone numbers or personal data.
“The acquisition is the first in CleverTap’s eight-year history and marks an important milestone in its ongoing innovation journey of expanding its capabilities. It will elevate the end-customer experience and empower brands and businesses globally to communicate with millions of their customers seamlessly,” stated CleverTap’s chief growth officer Vikrant Chowdhary.
“Patch acquisition is strategic and significant because it positions CleverTap as the first and only marketing and retention platform to offer in-app telephony capabilities,” he added.
Currently, all companies that offer apps are forced to use unverified phone numbers to communicate with their customers and update them on urgent information such as delivery status or recent credit card charges. Predictably, these phone calls, which are delivered outside of the app experience, neither carry transactional context nor recognisable phone numbers or caller ID and often fuel customer anxiety and mistrust. Often dismissed as spam by consumers, the calls regularly go unanswered.
The outcome is a poor customer experience for the consumer and a loss of revenue for brands and businesses that are unable to connect with them at critical stages in the journey. “For consumers, knowing who is calling and understanding the context from within the app increases trust and drives digital interactions and transactions,” noted Chowdhary. “As customers engage more frequently or deeply, brands and businesses also benefit because they reduce friction and increase the opportunities to generate revenues.”
It’s also the first time these capabilities are being offered to mobile-first brands and businesses across the globe. “Having in-app voice capabilities as a part of the CleverTap Retention Cloud is a game-changer for digital brands. It enables a trusted, two-way conversation between companies and their customers with context, security, and speedy resolution or assistance,” said CleverTap co-founder and chief product officer Anand Jain.
Commenting on the benefits to stakeholders, Jain added, “This is a new and critical addition to the engagement toolkit of email, push notifications, SMS, and WhatsApp that growth marketers and businesses must harness to improve communications and drive results. It’s all about evolving the in-app experience to increase customer satisfaction, reduce friction, and ultimately help our customers grow customer retention and LTV.”
Brands
Lotus Chocolate FY26 profit drops sharply, Q4 slips into loss
Revenue steady at Rs 579.55 crore, Q4 loss at Rs 4.47 crore
MUMBAI: Sweet on the top line, slightly bitter on the bottom Lotus Chocolate’s FY26 numbers tell a story that’s more dark cocoa than milk. The company managed to hold its revenue steady for the year, but profitability took a visible hit, capped by a loss-making fourth quarter. Lotus Chocolate Company Limited reported revenue from operations of Rs 579.55 crore for the year ended March 31, 2026, marginally up from Rs 573.75 crore in FY25. Total income rose to Rs 615.61 crore, compared with Rs 574.56 crore in the previous year, supported by a sharp jump in other income to Rs 36.06 crore from just Rs 0.81 crore.
However, the gains at the top did little to cushion profitability. Net profit for FY26 fell dramatically to Rs 0.10 crore, down from Rs 17.23 crore in FY25, reflecting significant cost pressures across the business.
The March quarter proved particularly challenging. The company reported a net loss of Rs 4.47 crore in Q4 FY26, compared with a profit of Rs 0.14 crore in the previous quarter and Rs 1.42 crore in the same quarter last year. Total income for the quarter stood at Rs 138.01 crore, down from Rs 150.21 crore in Q3 FY26 and Rs 157.52 crore in Q4 FY25.
Expenses remained elevated throughout the year. Total expenses rose to Rs 614.44 crore in FY26 from Rs 551.50 crore in FY25, eating into margins. A key swing factor was the cost of materials consumed, which stood at Rs 304.44 crore, while changes in inventories also reflected volatility, with a negative impact of Rs 62.44 crore in the previous year reversing to a positive Rs 52.93 crore this year.
Employee benefit expenses nearly doubled to Rs 34.00 crore from Rs 17.98 crore, while finance costs surged to Rs 16.31 crore from Rs 7.11 crore, indicating higher borrowing and funding costs. Depreciation and amortisation expenses also increased to Rs 3.92 crore from Rs 1.81 crore, reflecting ongoing investments.
On the balance sheet front, total assets stood at Rs 275.96 crore as of March 31, 2026, slightly higher than Rs 270.34 crore a year earlier. Borrowings remained significant, with current borrowings at Rs 89.00 crore, highlighting continued reliance on external funding.
Cash flow dynamics showed improvement in operations, with net cash generated from operating activities at Rs 93.23 crore, compared with a negative Rs 129.60 crore in FY25. However, financing outflows remained high at Rs 74.90 crore, driven largely by repayment of borrowings and interest costs.
Despite stable revenue, the sharp drop in profitability underscores the pressure of rising input costs, higher finance expenses and operational adjustments. The contrast between steady sales and squeezed margins leaves Lotus Chocolate at a crossroads proving that in business, as in confectionery, the real test isn’t just in the sweetness of sales, but in the richness of returns.
