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Pratilipi approaches Rs 60 Cr revenue mark in FY24, cuts losses by 62%

Entrackr · 6h

Pratilipi demonstrated strong financial performance in the last fiscal year, with the company's revenue spiking nearly 66%. Moreover, the Bengaluru-based storytelling platform reduced its losses by over 62% during the fiscal year ending in March 2024. Pratilipi ’s revenue from operations grew to Rs 57.8 crore in FY24 from Rs 35 crore in FY23, its financial statement filed with the RoC shows. Pratilipi is an online storytelling platform which essentially focuses on text and audio storytelling in Indian languages such as Hindi, Gujarati, Bengali, Marathi, and Malayalam across various formats including audiobooks, podcasts, comics, web series and movies. Revenue from content and premium subscription services soared 2X to Rs 34.97 crore in FY24 and accounted for 60.5% of total operating revenue. Brand advertising services grew by 79% to Rs 7.53 crore, while the sale of books went up by 62% to Rs 10.62 crore in the last fiscal year. The company made an additional Rs 70 lakh from interest income which pushed its total revenue to Rs 58.5 crore in FY24. Looking at the expenses, employee benefit expenses, the largest cost segment, dropped by 21% to Rs 46.94 crore in FY24. Advertising expenses saw a steep decline of 62% to Rs 19.36 crore in the last fiscal year . Cloud services and software charges also fell down significantly. Overall, Pratilipi’s total expenses fell by 39% to Rs 116.7 crore in FY24. Due to tight control in expenses, the company’s net loss decreased by 62% to Rs 58.13 crore in FY24 from Rs 152.6 crore in FY23. Its ROCE and EBITDA margin stood at -81.01% and -89.74%, respectively. On a unit basis, Pratilipi spent Rs 2.02 to earn a rupee in FY24. The company reported Rs 2.3 crore in cash and bank balances and had a current asset of Rs 33.26 crore as of FY24. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised over $80 million to date. Its leading investors include Krafton, Nexus Venture Partners, Omidyar Network, Shunwei Capital and Tencent. Pratilipi's CEO, Ranjeet Pratap Singh, recently said that the company aims to launch an initial public offering (IPO) in January 2026, depending on market conditions. He also mentioned plans to raise $12 million in a pre-IPO funding round, potentially at a lower valuation.