iWorld
Sports only OTT service Veqta to launch in June
MUMBAI: With the aim of expanding its portfolio, Veqta, a digital broadcast network dedicated to sports is all geared up to launch its OTT service in June 2016. With the launch of the platform, the venture will also roll-out its application followed by content in various regional languages.
Through this platform, sports fans across India can engage into various other categories of sports content that they have not yet explored. Breaking apart from the other content providers, Veqta plans to provide content via on-demand videos and live streaming.
“Veqta will follow a very friendly content format. There is very little sports content for the viewers. We will be a destination for sports fans to enjoy high quality content coming from the biggest names in the business”, asserts Veqta co-founder and director Varun Mathur.
It has raised $500,000 (Rs 3.4 cr) in seed funding from Chatsworth Management and sports management company ITW Consulting Pvt. Ltd. The firm had earlier received initial-stage backing from ITW.
“What will make us different form the rest is our packaging, our different formats of short form and live streaming content as well as feeds in various regional languages which everyone can understand,” says Mathur.
The platform will follow the freemium model wherein the users will have some content available for free while there will be a pay wall for some premium content. Its offerings will include licensed content and flagship studio content across various ‘underpunctuated’ categories like cricket, football, motorsports, basketball, tennis, badminton and a range of Olympic sports.
The venture has signed deals with various international partners from the field of sports. The venture has not locked deals with any advertisers as of yet and are just focused at expanding its consumer reach, building team and strengthening its product development.
Taking a hint from this, it will be interesting to see whether the other OTT players like HotStar, Spuul, Hooq, Eros Now, Sony Liv, Ditto TV, VOOT, etc, might also look at mushrooming their target niche audiences.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
