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Boat reports 5% revenue decline in FY24, net loss halves

Economic Times

Economic Times · 8m

Boat reports 5% revenue decline in FY24, net loss halves

- Boat's revenue declined by 5% for FY24, reaching Rs 3,121.6 crore. - The company reduced its net loss by 48% to Rs 70.8 crore during the same period. - Boat's audio business remained flat in the second half of FY24, with a shift towards online sales. - The headphone segment experienced a decline, while the speaker business posted flat results. - Despite facing margin pressure due to fierce competition and declining average selling price, Boat expects improved Ebitda and PBT margins in FY25. - Boat plans to go for an IPO next year and expand internationally in the UAE.

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