AstroTalk Makes ₹99.99 Crore Profit in FY24; Lenskart in FY24 Acquires a Massive ₹5,427.7 Crore Revenue
The FY24 financial report of AstroTalk, the online astrology company, and Lenskart, the Indian eye-wear company, have now been shared. The former has made an outstanding profit of ₹99.99 crore, while the latter, incurring a loss of ₹10 crore, acquired a revenue of ₹5,427.7 crore.
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AstroTalk – ₹99.99 Crore Profit in FY24
The Noida-based online astrology platform, AstroTalk, has proved itself to be the leaders in the spiritual tech space of the country with a remarkable 2x growth and 12x profit compared to FY23. The company made ₹529.6 crore in revenue from India alone (2x times compared to FY23), while the revenue generated from other countries is ₹121.44 crore (4.2x times compared to FY23), amounting to ₹651.1 crore in total. To add, apart from the operational revenue, the company also attained ₹8 crore through interests, achieving a total revenue of about ₹659.1 crore in FY24.
Speaking of expenses, with employee benefits (₹29.61 crore), advertisements and promotions (₹162.28 crore), legal and professional charges (₹319 crore), along with finance, software, and maintenance expenses, the total expense of FY24 was brought to ₹531.6 crore.
Finally, coming to the FY24 profit, with about 12x YoY growth, AstroTalk made ₹99.99 crore in profit. To note, the ROCE and EBITDA margin were 40.16% and 19.42% respectively, and on a unit level, the company only had to spend ₹0.82 to earn ₹1 in operating revenue.
Interestingly, while AstroTalk gained ₹99.99 crore profit in FY24, other Indian startup giants were in huge loss at the end of March 2024. Flipkart, PhonePe, Swiggy, and Ola incurred total loss of about ₹4,248 crore, ₹1,996 crore, ₹2,350 crore, and ₹1,584 crore, respectively in FY24.
Lenskart – ₹5,427.7 Crore Revenue and ₹10 Crore Loss
About Lenskart, the Gurugram-based eye-wear company was able to sustain its growth in FY24 as well, generating a massive ₹5,427.7 crore in operational revenue (43% YoY increase). During FY24, the revenue through product sales is reported to be ₹5,166.2 crore, sale of services was ₹104.5 crore, and other operating source income summed up to ₹157 crore. [Revenue from India: ₹3,154.5 crore; Global revenue: ₹2,273 crore.] Via non-operating activities, the company also made ₹182.17 crore, making the total revenue of the company ₹5,609.87 crore.
Coming to the expense, with material cost of ₹1,776 crore, employee benefits of ₹1,086.49, depreciation and amortization costs of ₹672.24, and other expenses(finance, information technology, and more), the company’s total expense during FY24 amounted to ₹5,549.59.
At the end of FY24, after meeting with all the expenses and effective cost management, the company is reported to be at a loss of ₹10 crore, but fairly less when compared to the ₹63 crore of FY23. To add, ROCE and EBIDTA margin were 2.28% and 15.15% respectively, and for ₹1 operating revenue, the company spent ₹1.02, on unit level.
