Wealthify Global Summit 2022

Startups and new-age companies should not consider growth and profitability as trade-offs -- that was one of the key messages to emerge from a discussion at the Economic Times Global Business Summit. The panel of leaders from the new economy sectors was debating the balance between growth and profitability as business prudence takes centre stage at technology companies and startups.

Startups and new-age companies should not consider growth and profitability as trade-offs -- that was one of the key messages to emerge from a discussion at the Economic Times Global Business Summit. The panel of leaders from the new economy sectors was debating the balance between growth and profitability as business prudence takes centre stage at technology companies and startups.

“Neither growth should be pushed down the throat, nor profitability. It is a function of the lifecycle of the company because profitability naturally comes with scale and you have to get to that scale,” he said. “I fundamentally believe that along with revenue and growth, cost competencies, especially in businesses in India, will give a very critical competitive advantage in the long term,” said Oyo’s Agarwal. “We are not interested in doing new businesses (or going into) new geographies but are looking to commit to a core business. We want to continue bringing the best services to our customers and maybe premiumise more.” “In the pandemic, we understood that the best way of learning is neither completely online, nor completely offline,” said Gokulnath of Byju's. “But just like everything in this world, it's hybrid. The way we work, the way we travel, the way we live, the way we learn, the way we teach–everything has changed forever. So we adapted to this new normal and now we have multiple formats.” “One is, of course, the drive to get to the $5 trillion economy in a few years. The second, what we call the demographic dividend, and the third thing is that the India Stack of technology has delivered big dividends across the board.”