Pratilipi demonstrated strong financial performance in the fiscal year ending March 2024, with the company's revenue spiking nearly 66 per cent. Additionally, the Bengaluru-based storytelling platform reduced its losses by over 62 per cent during this period.
According to its financial statement filed with the RoC, Pratilipi's revenue from operations grew to Rs 57.8 crore in FY24, up from Rs 35 crore in FY23.
Pratilipi, an online platform offering storytelling in Indian languages such as Hindi, Gujarati, Bengali, Marathi, and Malayalam, focuses on text and audio formats including audiobooks, podcasts, comics, web series, and movies.
Revenue from content and premium subscription services soared by 100 per cent to Rs 34.97 crore in FY24, accounting for 60.5 per cent of the total operating revenue. Brand advertising services grew by 79 per cent to Rs 7.53 crore, while the sale of books increased by 62 per cent, reaching Rs 10.62 crore in FY24.
In addition, the company earned Rs 70 lakh in interest income, bringing its total revenue to Rs 58.5 crore in FY24.
On the expense front, Pratilipi's employee benefit expenses, the largest cost segment, dropped by 21 per cent to Rs 46.94 crore. Advertising expenses saw a significant decline of 62 per cent, falling to Rs 19.36 crore, while cloud services and software charges also reduced substantially.
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