JOHANNESBURG (Reuters) – Dutch investor Prosus NV expects its e-commerce profits to reach $400 million this fiscal year. CEO Fabricio Bloisi announced that more Indian businesses are likely to go public following Swiggy’s upcoming IPO.
Prosus, which is mainly owned by South Africa’s Naspers, is a key investor in Swiggy, an Indian food delivery service preparing for one of India’s largest IPOs this year.
Bloisi reported that from April to September this year, Prosus’s global e-commerce earnings before interest and taxes (EBIT) tripled compared to all of last year. The forecast for $400 million in adjusted EBIT in 2025 is a significant increase from $38 million in 2024, when the company moved from a $413 million loss to profit.
Bloisi mentioned that the improvement is expected to continue, emphasizing the importance of the e-commerce business for overall profitability and cash flow.
In India, where Swiggy has filed for a $1.25 billion IPO, Bloisi anticipates more investments to be listed in the next 12 to 18 months. He expressed enthusiasm for further investments in India, mentioning companies like PayU, Meesho, Urban Company, Pharmeasy, and BYJU’S.
Prosus is valued at around $100 billion, and Bloisi aims to double that value through investments in fast-growing and profitable businesses.
(Reporting by Nqobile Dludla; Editing by Susan Fenton)
