Pratilipi, India’s popular storytelling platform, has posted impressive financial results for FY24, with a near 66% increase in revenue and a significant reduction in losses. The Bengaluru-based company’s strong performance marks a critical milestone in its journey toward becoming a key player in the Indian digital content ecosystem.
Revenue Growth Driven by Premium Services and Brand Advertising
Pratilipi’s revenue from operations reached Rs 57.8 crore in FY24, up from Rs 35 crore the previous year, according to its financial statement filed with the Registrar of Companies (RoC). This growth was largely driven by a surge in revenue from premium content and subscription services, which doubled to Rs 34.97 crore, accounting for 60.5% of its total operating revenue. These services include audiobooks, podcasts, and exclusive content across various Indian languages such as Hindi, Gujarati, Bengali, Marathi, and Malayalam.
The platform’s expansion into diverse content formats like comics, web series, and movies also contributed to its financial upswing. In addition to premium services, brand advertising saw a sharp increase of 79%, reaching Rs 7.53 crore. The sale of books, another key revenue segment for Pratilipi, saw a healthy rise of 62%, contributing Rs 10.62 crore to the total revenue.
Beyond the main operations, Pratilipi also earned Rs 70 lakh in interest income, pushing its total revenue to Rs 58.5 crore for the fiscal year.
Expense Control Leads to Reduced Losses
While revenue soared, Pratilipi also made significant strides in controlling its expenses. The company’s largest expense segment, employee benefits, dropped by 21% to Rs 46.94 crore in FY24. Advertising expenses, a key cost for many digital platforms, saw a dramatic 62% reduction, totaling Rs 19.36 crore. Additionally, expenses related to cloud services and software charges were significantly lowered.
The company’s total expenses fell by 39% to Rs 116.7 crore in FY24, contributing to a remarkable reduction in losses. Pratilipi’s net loss for the year was cut by 62%, from Rs 152.6 crore in FY23 to Rs 58.13 crore in FY24. Despite the losses, the company’s financial discipline and cost-cutting measures demonstrate a promising path toward profitability in the coming years.
Operational Efficiency: A Closer Look at Financial Metrics
Pratilipi’s financial health shows progress in its operational efficiency. For every rupee earned, the company spent Rs 2.02 in FY24, a significant improvement compared to previous years. The company reported a cash balance of Rs 2.3 crore and current assets of Rs 33.26 crore as of FY24. These figures reflect the company’s liquidity and its ability to manage day-to-day operations effectively.
Despite posting negative returns, Pratilipi’s return on capital employed (ROCE) and EBITDA margins stood at -81.01% and -89.74%, respectively. These figures are expected to improve as the company continues to scale its operations and reduce costs.
Strong Investor Backing and IPO Plans
Pratilipi has raised over $80 million in funding to date from leading investors such as Krafton, Nexus Venture Partners, Omidyar Network, Shunwei Capital, and Tencent. The platform has used this capital to expand its content offerings and improve its operational infrastructure.
Looking ahead, Pratilipi is planning to go public with an initial public offering (IPO) slated for January 2026, depending on market conditions. CEO Ranjeet Pratap Singh has also mentioned the possibility of raising $12 million in a pre-IPO funding round, which could occur at a lower valuation. This step marks an important phase in the company’s evolution as it seeks to establish itself as a major player in the Indian digital media space.
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