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Published: Oct 8, 2024 5:55 PM | 1 min read
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Consumer electronics company boAt has reportedly reduced its losses by 47% in the fiscal year ending March 2024.
According to a media report, which cites internal document from the Registrar of Companies (RoC), boAt’s revenue decreased by 5% to Rs 3,122 crore in FY24 from Rs 3,285 crore in FY23.
The company has managed to control its costs, resulting in a 47% reduction in losses, which dropped to Rs 53.5 crore in FY24 from Rs 101 crore in FY23.
The EBITDA of the company has turned positive.
According to the media report, the revenue of the audio business continues to do well and has increased by 5% in FY24. The EBITDA of the audio business increased to 9% in FY24.
The report further adds that boAt also expects to increase its EBITDA margins during the ongoing fiscal year with multiple initiatives, including reduction in advertisement and promotion cost.
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