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Aman Gupta’s boAt Clocks INR 3,400+ Cr Revenue In FY23

Inc42 · 1y ago

Aman Gupta’s boAt Clocks INR 3,400+ Cr Revenue In FY23

Indian consumer electronics brand boAt, known for its audio products and wearables, reported crossing INR 3,400 Cr ($454.5 million) in revenue in the financial year 2022-23 (FY23), with a growth rate of 20%. While the audio business continued to grow, the company reported a loss due to investments in the smartwatch category and scaling up its manufacturing infrastructure in India. boAt aims to achieve over INR 4,000 Cr ($535 million) in gross revenue in FY24. The company has seen substantial growth in sales of smartwatches and other audio products, and it has focused on manufacturing in India.

Related News

Audio wearable peers Noise and boAt clock flattish growth in FY24

YourStory

YourStory · 8m ago

Audio wearable peers Noise and boAt clock flattish growth in FY24

Audio wearables brands boAt and Noise reported modest growth in their revenue for FY24. Noise, backed by Bose, recorded an operating revenue of INR 1,430.8 crore, slightly higher than the previous year. boAt, led by Aman Gupta, generated INR 3,117.6 crore in revenue, which represented a 7.6% decline compared to the preceding year. Meanwhile, Noise incurred a loss of INR 20 crore, whereas boAt managed to reduce its losses from the previous year. boAt is currently preparing for an IPO, aiming for a valuation of $1.32 billion.

Aman Gupta's boAt reports Rs 3,400+ crore in revenue in FY23; losses remain undisclosed

IndianStartupNews

IndianStartupNews · 1y ago

Aman Gupta's boAt reports Rs 3,400+ crore in revenue in FY23; losses remain undisclosed

boAt, the parent company of Imagine Marketing, has announced crossing the milestone of Rs 3,400 crore in revenue in FY23, representing a growth of 20% compared to the previous year. The company attributes this success to the strong performance of its audio business and the expansion of its smartwatch category. However, despite the revenue growth, the company reported a loss, the details of which were not disclosed. boAt aims to file its detailed financial statements and is projected to exceed Rs 4,000 crore in gross revenue for the current year.

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Inc42 · 1y ago

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Ola Electric has filed for an IPO to raise INR 5,500 Cr by issuing new shares. The startup's sales in the first three months of FY24 reached INR 1,242.7 Cr, almost half of the revenue reported in FY23. Ola Electric's primary source of revenue comes from two-wheeler sales. The company reported a net loss of INR 268 Cr in Q1 of FY24 and a net loss of INR 1,471.6 Cr in FY23. Its major expenditure is on procurement, which accounted for 76% of total expenses in Q1 of FY24. Ola Electric competes with Ather, Bounce Infinity, Hero, Revolt, TVS, Okinawa, among others.

Aman Gupta’s boAt sold audio products, smartwatches worth INR 3,376 Cr in FY23

Inc42 · 1y ago

Aman Gupta’s boAt sold audio products, smartwatches worth INR 3,376 Cr in FY23

Audio and smartwatch maker boAt recorded sales of over INR 3,000 crore in the fiscal year ending March 2023. The company's operating revenue rose by 18% to INR 3,376.7 crore during the period. However, boAt reported a loss of INR 129.4 crore in FY23, marking its first net loss since its establishment. The increase in expenses outpaced the rise in sales, resulting in a negative EBITDA margin of -1.6%. The company's major expenses included procurement costs, advertising expenses, and employee benefit expenses. boAt had postponed its IPO plans due to market volatility and has raised $177 million in funding to date.

Paper Boat’s FY23 Loss Surges 71% To INR 90.6 Cr, Revenue Crosses INR 500 Cr Mark

Inc42 · 1y ago

Paper Boat’s FY23 Loss Surges 71% To INR 90.6 Cr, Revenue Crosses INR 500 Cr Mark

Hector Beverages, the parent company of Paper Boat, witnessed a 71% increase in net loss to INR 90.6 Cr in FY23. Despite a 56% rise in revenue to INR 504 Cr, the startup faced higher cash burn. Paper Boat sells fruit-based drinks and healthy snacks in Indian flavors, such as aam panna and jaljeera. Its total expenses rose to INR 599.1 Cr, primarily driven by material and stock costs. The company faces competition from Lahori, Raw Pressery, and established FMCG giants like Dabur and ITC in the Indian F&B market, projected to reach $156.25 Bn by 2026.

'Compliance, ethics aren’t boxes to tick...': Aman Gupta shares blunt lessons for founders from BluSmart fallout

Business Today

Business Today · 3m ago

'Compliance, ethics aren’t boxes to tick...': Aman Gupta shares blunt lessons for founders from BluSmart fallout

The fall of BluSmart has become a significant lesson for India’s startup ecosystem, emphasizing the importance of trust, ethics, and governance. Aman Gupta, Co-Founder of boAt, describes the incident as a wake-up call and a much-needed reality check for founders. Gupta’s reflections highlight the broader implications for the industry, suggesting a shift towards more responsible business practices to ensure long-term sustainability and success in the competitive startup landscape.

Pratilipi’s loss shrinks 22% to 152 Cr, revenue went 4X up to Rs. 34.89 Cr

Inc42 · 1y ago

Pratilipi’s loss shrinks 22% to 152 Cr, revenue went 4X up to Rs. 34.89 Cr

Bengaluru-based self-publishing platform Pratilipi reported a 22% decrease in losses in FY23, coupled with a significant increase in revenue. The company's revenue from operations grew to INR 34.89 crore ($4.65 million) in FY23, compared to INR 7.88 crore ($1.05 million) in FY22, driven by increased overseas activity. The majority of Pratilipi's revenue still came from the Indian market, which reached INR 31.23 crore ($4.17 million) in FY23. The company also reported revenue from international markets for the first time, generating INR 3.66 crore ($0.49 million) in FY23.

boAt’s FY24 Revenue Declines 7% To INR 3,118 Cr

Inc42 · 9m ago

boAt’s FY24 Revenue Declines 7% To INR 3,118 Cr

Indian consumer electronics brand boAt witnessed a significant decline in sales of wearables, which dropped by nearly 40% year-on-year to INR 550.3 Cr. However, the revenue from its audio products segment saw a modest increase of 5% to INR 2,459.2 Cr. Despite the decrease in revenue, boAt managed to reduce its losses by 34% to INR 81.7 Cr in FY24, compared to INR 124.6 Cr in the previous year. The company is aiming for profitability in FY25 and is considering an initial public offering (IPO) of INR 2,000 Cr within the next 12-18 months.

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Inc42 · 1y ago

Flipkart’s B2C arm’s sales near INR 15,000 Cr mark, FY23 loss dips to INR 4,026 Cr

Flipkart Internet Private Limited, the B2C arm of Walmart-owned Flipkart, saw its operating revenue reach around INR 15,000 Cr in FY23. The operating revenue of Flipkart Internet increased by 42% to INR 14,845.8 Cr in FY23 from INR 10,477.4 Cr in FY22. The company managed to reduce its net loss by 9% to INR 4,026.5 Cr in FY23 from INR 4,419.5 Cr in FY22. Flipkart's total expenditure in FY23 was around INR 19,043 Cr, which included employee benefits, transportation costs, and advertising expenses.

SaaS startup Atlan’s profit slips 19% to INR 7.74 Cr in FY23

Inc42 · 1y ago

SaaS startup Atlan’s profit slips 19% to INR 7.74 Cr in FY23

Singapore-based data collaboration software startup Atlan saw its profit after tax (PAT) decline by 18.70% to INR 7.74 crore in FY23 compared to the previous fiscal year. The decline was attributed to higher tax expenses in FY23 and an exceptional gain in FY22. However, Atlan's operating revenue surged to INR 93.83 crore in FY23 from INR 32.38 crore in FY22, primarily driven by overseas revenue. The company's total expenses rose by 203% to INR 85.53 crore in FY23, with employee costs being the primary contributor.

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