🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Kuku FM reports Rs 88 Cr revenue in FY24; spends Rs 100 Cr on marketing

EntrackrEntrackr · 1y ago
Kuku FM reports Rs 88 Cr revenue in FY24; spends Rs 100 Cr on marketing
Medial

Audio content platform Kuku FM has grown at an impressive pace over the last two fiscal years. After achieving approximately 12-fold growth in FY23, the Mumbai-based firm has more than doubled its revenue in the fiscal year ending March 2024, while also reducing its losses. Kuku FM’s revenue from operations surged 2.1x year-on-year to Rs 88 crore in FY24, up from Rs 41 crore in FY23, according to its annual financial statements accessed from the Registrar of Companies. Kuku FM offers a diverse range of audio content across genres such as business, self-help, personal finance, history, religion, entertainment, and fitness. Revenue from paywalled subscription sales served as the sole source of income for Kuku FM. The Fundamental-backed company also made Rs 16 crore, primarily from interest on deposits and the sale of current investments, bringing total revenue to Rs 104 crore in FY24, up from Rs 49 crore in FY23. To expand its audio content reach, Kuku FM allocated over 50% of its total cash burn to advertising and marketing, which stood at Rs 102 crore in FY24—an 8.5% increase from FY23. Interestingly, spending on audio content creation was comparatively lower, at Rs 16 crore. According to financial statements, employee benefits for the Mumbai-based company grew by 37% in FY23. Meanwhile, information technology, legal, rent, payment gateway charges, and other overheads pushed total expenditure up by 21.2% to Rs 200 crore in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -234.69% -89.42% Expense/₹ of Op Revenue ₹4.02 ₹2.27 ROCE -91.41% -46.38% The two-fold increase in scale and controlled expenditure helped Kuku FM reduce its losses by 18% to Rs 96 crore in FY24, down from Rs 117 crore in FY23. Its ROCE and EBITDA margin stood at -46.38% and -89.42%, respectively. Per unit, it spent Rs 2.27 to earn a rupee in FY24. Note: Kuku FM’s total outstanding losses stood at Rs 289 crore at the end of the previous fiscal year (FY24). Kuku FM has raised $71 million to date, including a $25 million Series C round led by the International Finance Corporation (IFC) and Nandan Nilekani’s Fundamentum Partnership in October 2023. The company was last valued at around $185 million. Kuku FM is clearly a case of proving a widely held perception wrong (getting Indians to pay for audio content), and getting rewarded handsomely with funding for the same. For, even while it deserves credit for proving that a market exists, it faces the obvious challenge of finding each of those paying customers at a very high cost. And in the cut throat world of streaming platforms, the cost of keeping its flock together somehow. Multiple well established players means a genre that takes off is likely to be picked up elsewhere as well, and very soon at that. International billings for sticky content is one way out of course. What is interesting is the low investments into audio content creation, indicating a low belief in trying to own exclusive content. A firm to watch, both with some hope and trepidation.

Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing

EntrackrEntrackr · 2d ago
Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing
Medial

Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing Kuku FM has continued its impressive growth trajectory with nearly tripling its scale in FY25. After clocking a 114% year-on-year revenue growth in FY24, the audio content platform reported a sharper 175% jump in its scale in FY25. However, the IPO-bound firm slipped deeper into losses during the period due to high advertising spends. Kuku FM’s operating revenue surged to Rs 242 crore in FY25 from Rs 88 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Kuku FM offers a diverse range of audio content across genres such as business, self-help, personal finance, history, religion, entertainment, and fitness. Revenue from paywalled subscription sales was the sole source of income for Kuku FM. The company also earned Rs 16 crore from other income which pushed its total income to Rs 258 crore in FY25. The sharp rise in revenue was accompanied by a steep increase in expenses. Kuku FM’s total expenses more than doubled, to Rs 411 crore in the last fiscal year from Rs 200 crore in FY24. Advertising expenses emerged as the biggest cost component which accounted for nearly 70% of the total expenditure. To the tune of scale, this cost rose 2.8x to Rs 285 crore in FY25 from Rs 102 crore in FY24. Employee benefit expenses increased 28% to Rs 60 crore, while information technology expenses rose 28% to Rs 27 crore during the year. Depreciation costs tripled to Rs 9 crore in the same period. The aggressive spending pushed Kuku FM’s loss to increase by 59% to Rs 153 crore in FY25 from Rs 96 crore in FY24. Its ROCE and EBITDA margin stood at -163.73% and -65.29% respectively. On a unit level, it spent Rs 1.70 to earn a rupee of operating revenue in FY25, compared to 2.27 in FY24. The company reported current assets worth Rs 268 crore, including Rs 117 crore in cash and bank balances during the year. According to TheKredible, the company has raised a total of $157 million of funding till date. Having The Fundamentum Partnership, Vertex Ventures, and Krafton as its lead investors which owns 12.79%, 11.12%, and 10.17% of the company respectively. Kuku FM is also gearing up for the public markets. The audiobooks and storytelling platform has reportedly shortlisted four investment banks to help it raise up to Rs 3,000 crore through an initial public offering (IPO). The proposed IPO is expected to comprise a mix of fresh issuance and an offer for sale (OFS).

Bhakti or LoveNasha? both, says Kuku FM as backlash mounts

EntrackrEntrackr · 11m ago
Bhakti or LoveNasha? both, says Kuku FM as backlash mounts
Medial

Bhakti or LoveNasha? both, says Kuku FM as backlash mounts Kuku FM is facing criticism from users on social media for simultaneously promoting its devotional app, Bhakti, and its erotic content app, LoveNasha. The juxtaposition of these vastly different content types has sparked debates and backlash online. Both apps were released in October 2024, as per details available on the Play Store. The Bhakti app focuses on spiritual content, offering a wide range of sacred scriptures, mythological stories, devotional music, and teachings from ancient texts. It provides users with over 2,000 hours of content, including 500+ shows, audiobooks, bhajans, and epic narratives such as the Bhagavad Gita, Mahabharata, and Ramayana. The app was officially launched during the Maha Kumbh Mela 2025 held in Prayagraj. Conversely, the LoveNasha app, which has not been officially launched yet, promotes erotic content. Kuku FM has been promoting LoveNasha through social media influencers, which has faced criticism for the contrasting nature of the two apps. Numerous users took to the social media platform X to voice their criticism of Kuku FM's move. Kuku FM has been a notable player in the audio content industry, offering diverse genres, including business, self-help, personal finance, history, religion, entertainment, and fitness.

Mylab’s op revenue nosedives to under Rs 100 Cr in FY23, slips into losses

EntrackrEntrackr · 1y ago
Mylab’s op revenue nosedives to under Rs 100 Cr in FY23, slips into losses
Medial

Adar Poonawalla-backed Mylab thrived during the pandemic (FY21 and FY22) when the demand for covid related testing and other services skyrocketed. In the subsequent fiscal year ending March 2023, however, MyLab’s scale nosedived around 64% as the world returned to normalcy. Furthermore, a steep fall in demand also led the Pune-based firm to book sizable losses in FY23 against profits in FY21 and FY22. While the company achieved a 100X growth to Rs 825 crore in FY21, its scale dwindled to Rs 95 crore in FY23, Mylab’s consolidated financial statements filed earlier this week with the Registrar of Companies show. Mylab Even as the company remained profitable in FY22, Mylab’s scale has been on a downward trajectory since then. In FY22, the operating revenue was already down 68.4% to Rs 260.71 crore. Founded in 2016, Mylab develops and sells diagnostic kits for clinical diagnostics. Similar to FY21 and FY22, the sale of such kits continued to be the sole source of operating revenue for Mylab in FY23 The company also added Rs 29 crore from interest and miscellaneous sources tallying the total income to Rs 124 crore in FY23. On the cost side, the manufacturing of kits formed 27% of the total expenditure. In the line of decreasing scale, this cost was reduced by 60% to Rs 50 crore in FY23. The firm’s burn on employee benefits, legal fees, advertising, royalty, conveyance, and other overheads took its total expenditure to Rs 185 crore in FY23 from Rs 250 crore in FY22. See TheKredible for the detailed expense breakup. The decline in scale and fixed overheads led Mylab into losses for the first time in the last three reported fiscals. The company recorded a loss of Rs 47 crore in FY23, compared to a Rs 16 crore profit in FY22. Its ROCE and EBITDA margin worsened to -18% and -24.19%, respectively. On a unit level, it spent Rs 1.95 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 14.81% -24.19% Expense/₹ of Op Revenue ₹0.96 ₹1.95 ROCE 11.42% -18.01% Much like online edtechs, online healthcare also seems to have vastly underestimated the fight in offline firms that missed out during the pandemic. Be it schools and other institutions in the case of edtech, in healthcare too we have seen offline diagnostic labs and institutions fight hard to claw back share and revenues from the diagnostics market that online firms had grabbed during the pandemic. It’s a battle they understand well with first access to patients in many cases, and we are already hearing of cases where many clinics and hospitals insist on their test lab result. Doubts have also been raised on the credibility of test lab results that are picked up at home and analysed subsequently. Mylabs test kits and ancillary services model has faced these problems, and come up severely short, going by the look of things. The firm needs a better diagnosis for its own survival, and growth plans.

Gramophone posts Rs 316 Cr gross revenue and Rs 58 Cr loss in FY23

EntrackrEntrackr · 1y ago
Gramophone posts Rs 316 Cr gross revenue and Rs 58 Cr loss in FY23
Medial

Agritech startup Gramophone has been making its place in the agritech space with over 75% year-on-year growth during the fiscal year ended March 2023. At the same time, losses for the InfoEdge-backed company looked under control compared to other VC-backed agritech startups. Gramophone’s gross revenue grew 75.6% to Rs 316 crore in FY23 from Rs 180 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Founded in 2016 by Nishant Mahatre and Tauseef Khan, Gramophone’s offerings include crop protection, crop nutrition, seeds, implements, and agri hardware. It also facilitates farmers to sell crops to vyapaaries (businessmen) directly through its Gram Vyapaar feature. The sale of products (agri inputs) is the sole source of revenue for Gramophone. For the agritech startup, the cost of procurement of inputs accounted for 81% of the overall expenditure. In the line of scale, this cost surged 76.2% to Rs 303 crore in FY23 from Rs 172 crore in FY22. Its employee benefits, information technology, advertising cum promotional, provisions for trade receivables, and other overheads catalyzed the overall expenditure up by 70% to Rs 374 crore in FY23 from Rs 220 crore in FY22. See TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 220 Cr https://thekredible.com/company/gramophone/financials View Full Data To access complete data, visithttps://thekredible.com/company/gramophone/financials Total ₹ 374 Cr https://thekredible.com/company/gramophone/financials View Full Data To access complete data, visithttps://thekredible.com/company/gramophone/financials Cost of materials consumed Cost of materials consumed Employee benefit Employee benefit Information technology Information technology Advertising promotional Advertising promotional Provision for Trade Receivables Provision for Trade Receivables Others To check complete Expense Breakdown visit thekredible.com View full data Despite a decent scale, losses for the Gurugram-based company grew 48.7% to Rs 58 crore in FY23 from Rs 39 crore in FY22. Its ROCE and EBITDA stood at -119% and -17.4% respectively. FY22-FY23 FY22 FY23 EBITDA Margin -21% -17.4% Expense/₹ of Op Revenue ₹1.22 ₹1.18 ROCE -57% -119% On a unit level, it spent Rs 1.18 to earn a rupee in FY23. With procurement costs (Rs 303 crores) accounting for almost 95% share of revenues (Rs 316 crores), Gramophone has an obvious margin challenge to manage, the common issue for all agritechs, unless they provide services. With other costs being much less elastic by now, there is no way out but to increase margins or topline without addition to non-procurement costs. Past performance indicates that it is easier said than done, and to that extent Gramophone, despite proving its market case, will need to pull off some major surprises to move into the black. With the plethora of agritechs out there, it will hopefully not need to search out the right answer for too long. Gramophone has raised around $18 million to date including its $10 million Series B round led by Z3Partners. According to the startup data intelligence platform TheKredible, InfoEdge is the largest external stakeholder with 32.89% followed by Z3Partners and Siana Capital. Its co-founders Tauseef Ahmed Khan and Nishant Vats cumulatively hold 27.16% of the company.

Download the medial app to read full posts, comements and news.