Apna Narrows FY25 Loss To INR 50 Cr Even As Revenue Dips

Professional networking unicorn Apna managed to marginally trim down its consolidated net loss by 2.3% to INR 50.1 Cr during the financial year ended in March 2025, from INR 51.3 Cr in the previous fiscal. 

On the contrary, the unicorn’s operating revenue declined 4% to INR 122 Cr during the fiscal under review, from INR 127.7 Cr in FY24. 

Apna reported a one-time income of INR 9.3 Cr by the gain on sale of mutual funds. This income stood at INR 80 Lakh for the company in FY24. Hence, Apna reported decline in loss even after its top line also dropped. 

Meanwhile, Apna’s total expenses saw a marginal 2% rise to INR 194 Cr in the fiscal under review from INR 191 Cr in FY24. 

The startup majorly earns revenue from two sources — offering recruitment solutions through its website and mobile app, and providing software development support services to its holding company. 

Additionally, revenue from pay-per-hire (PPH) services is recognised only after a candidate is placed and completes the required retention period.

Apna’s revenue from recruitment solutions surged 61% to INR 57.1 Cr in FY25 from INR 35.5 Cr in FY24. During the same time, its revenue from software development support declined 31% to INR 63 Cr from INR 91.5 Cr earlier. 

Founded in 2019 by Nirmit Parikh, Apna initially positioned itself as a LinkedIn-like platform focused on hiring for blue and grey collar workers. The startup claims to connect more than 5.9 Cr job seekers and 7 Lakh employers across India. Further, it counts the likes of Jio, Zomato, Swiggy, Urban Company, Flipkart, Tech Mahindra as its clients. 

Apna competes with the likes of LinkedIn, Info Edge-owned Naukri, Indeed, etc, in the country’s growing online recruitment market. As per data by Insight Partners, India’s staffing and recruitment market is expected to grow to $48.5 Bn by 2030, growing at a CAGR of 13% between 2022 and 2030.

Apna became a unicorn after raising $100 Mn in Series C funding round in 2021. Since then, the startup hasn’t raised any additional funding.  

Overall, it has raised over $190 Mn from investors like Peak XV Partners, Tiger Global, Lightspeed, among others.

Earlier this year, the union labour ministry signed a Memorandum of Understanding (MoU) with Apna to bring more than 10 Lakh job opportunities annually to the National Career Service (NCS) portal.

In 2025, Apna significantly expanded its reach and platform for India’s emerging workforce, claiming to facilitate roughly 1.81 Cr job applications in Q1, a 30% YoY jump and saw applications by women for enterprise roles grow by 92%. 

Where Did Apna Spend?

With the company’s total expenses rising to INR 194 Cr in FY25, Apna majorly spent under the following heads –

• Employee Benefit Expenses – This subhead includes salaries, wages and bonus given to the employees. The job-listing platform cut down on its employee benefit expenses by 5% to INR 177.3 Cr from INR 123 Cr in FY24, on the back of reduction in total salary amount  given
• Digital Marketing Expenses – Apna spent 10% more, i.e., INR 17.7 Cr on its marketing during the previous fiscal, when compared to its marketing expenses of INR 16 Cr in FY24
• Business Development Expenses – Grabbing a huge chunk under other expenses, business development costs for Apna stood at INR 20.8 Cr in the fiscal under review, from INR 18.5 Cr in the previous financial year.