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Vikas Acharya

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Medial • 1m

Furniture rental startup Rentomojo nears Rs 200 crore FY24 operating revenue Furniture and appliance rental platform Rentomojo posted operating revenue of nearly Rs 200 crore in the last fiscal year as the Bengaluru-based company benefited from people returning to workplaces after the pandemic. Rentomojo—the winner of The Economic Times Startup Awards 2024 in the Comeback Kid category—reported a 60% rise in operating revenue to Rs 193 crore in FY24, according to its financial results filed with the Registrar of Companies. Controlled rise in expenses during the year saw net profit surge more than threefold to Rs 22 crore last fiscal from Rs 6 crore in FY23. It posted an earnings before interest, taxes, depreciation and amortisation (Ebitda) of Rs 65 crore during the year. Rentomojo's founder and chief executive Geetansh Bamania told ET that during FY24, the company took steps to enhance the use of automation, resulting in major cost savings.

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