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Chirag

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&OTHERS • 25d

Growth hides flaws. Crisis shows if you really have a business. That’s exactly what happened with Fittr. During COVID, Fittr became the poster child of India’s online fitness boom. Revenue soared from ₹58 Cr to ₹90 Cr. Investors rushed in. But behind the scenes? - Cash burned. Losses ballooned. Growth masked broken economics. When gyms reopened, reality hit: The market was “niche and fickle.” Funding dried up. Founder Jitendra Chouksey (JC) had two options: Keep burning cash… or rebuild from scratch. A conversation with Nithin Kamath (Zerodha) became the turning point. Fittr slashed costs, shut performance marketing, halted discounts — and rebuilt with brutal discipline. The result: • ₹41 Cr loss in FY23 turned into ₹11.5 Cr profit by FY25 (cash basis). • Pivoted to healthcare with Fittr HART and diagnostics. Lesson: Revenue ≠ Success. Valuation ≠ Value. Growth ≠ Endurance. If it only works in good times, it’s a bubble. What’s your take — do we still over-glorify growth?

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