Synopsis
Harsh Goenka highlights the financial struggles of Sharks Tank India judges, revealing significant losses incurred by several of them while praising the show for its promotion of entrepreneurship.Key Takeaways
- Sharks Tank India judges are experiencing financial difficulties.
- Varun Dua’s Acko General Insurance leads in losses.
- Entrepreneurship involves inherent risks and challenges.
- Social media reactions to Goenka's comments were mixed.
- Goenka's remarks sparked a broader discussion on profitability expectations.
New Delhi, Jan 28 (NationPress) The judges of Sharks Tank India are currently navigating turbulent waters, according to Harsh Goenka, chairperson of the RPG Group, who pointed out their companies' financial setbacks.
While praising the show for encouraging entrepreneurship, Goenka shared statistics revealing the financial difficulties faced by some judges. "I still enjoy watching #SharkTankIndia. However, it appears that some of our sharks are still navigating turbulent waters," the industrialist posted on the social media site X.
He remarked, "There is more 'bleeding' in the tank than I initially expected."
Goenka shared a list of FY24 profit after tax figures, indicating that Varun Dua’s Acko General Insurance experienced the largest loss of Rs 456 crore, followed by Azhar Iqubal’s Inshorts (Rs 228 crore), Ritesh Agarwal’s Oyo Rooms (Rs 184 crore PBT before exceptional items), and Kunal Bahl’s Snapdeal (Rs 160 crore).
The report also listed Vineeta Singh’s Sugar Cosmetics, which reported a loss of Rs 68 crore, and Aman Gupta’s boAt, which faced losses of Rs 54 crore.
Peeyush Bansal’s Lenskart had the smallest loss at Rs 10 crore. For Anupam Mittal’s Shaadi.com, Goenka referred to the FY23 results, which again indicated a loss of Rs 18 crore.
These remarks triggered a discussion on social media.
"The way they all criticize gives an impression as if they are the most prosperous companies in this nation," remarked one user.
"I still cannot comprehend why the sharks expect pitchers to present profitable businesses when their own companies have been struggling for profits for a long time," another user commented.
In January 2023, Goenka made a similar comment that prompted a response from Anupam Mittal. While the Shaadi.com founder recognized Goenka's remarks, he defended entrepreneurship, highlighting the inherent risks and challenges involved.
Mittal replied, "I understand you intended it humorously, but with all due respect, sir, I believe you reacted to what seems to be superficial, biased, and incomplete data. I welcome learning from experts, but just to clarify, like you, the sharks don't bleed red, we bleed blue, and that's the motivation behind our endeavors."
