The media and entertainment startup’s losses stood at INR 9.88 Cr in the fiscal, down 25.2% from INR 13.21 Cr loss it incurred in FY23
For FY24, the startup's revenue from operations stood at INR 18.71 Cr, up 2% from the INR 18.29 Cr it made in the previous fiscal year
Josh Talks spent INR 29.25 Cr in FY24, about 9% lower than the INR 32.02 Cr it spent in FY23
Gurugram-based media and entertainment startup Josh Talks managed to trim its losses by 25% in the fiscal year 2023-24 (FY24) from the previous year.
As per the startup’s filing with the MCA, its losses stood at INR 9.88 Cr in the fiscal, down 25.2% from INR 13.21 Cr loss it incurred in the previous fiscal.
The startup’s losses came despite only a meagre increase in its revenues.
For FY24, the startup’s revenue from operations stood at INR 18.71 Cr, up 2% from the INR 18.29 Cr it made in the previous fiscal year. Including other income of INR 65.40 Lakh, the startup’s total revenue for the fiscal stood at INR 19.37 Cr. This number is 3% higher than the INR 18.80 Cr total revenue for FY23.
Founded in 2015 by Shobhit Banga and Supriya Paul, Josh Talks provides free career guidance, online courses, and an app to help people improve their English speaking skills. Besides its bread and butter content platform Josh Talks, the startup operates an edtech platform Josh Skills, where it teaches aspirants English language skills, Josh UPSC for UPSC aspirants, and a Brand Solutions vertical to help brands with exclusive content.
It claims to have recorded over 4 Bn views on its videos across digital platforms and seen over 10 Mn downloads for its app. Since inception, the startup has raised about $5 Mn in funding from investors like Michal and Susan Dell Foundation, Media Development Investment Fund and Ankur Capital.
Where Did Josh Talks Spend In FY24?
The primary reason for the improving losses for the startup came due to it lightening its expenses in the fiscal. Josh Talks spent INR 29.25 Cr in FY24. This is about 9% lower than the INR 32.02 Cr it spent in FY23.
Other Expenses: Since Josh Talks is a media startup, one of its major expenses have been advertising and marketing, which are included in ‘Other Expenses’. In the fiscal, the startup spent 21% less in these expenses, trimming its other expenses to INR 13.49 Cr from the INR 17.12 Cr it spent in FY23.
Employee Benefit Expenses: The startup spent INR 13.89 Cr on its workforce in the fiscal. This represents a slight 2% increase from the INR 13.53 Cr it spent a fiscal year ago.
Depreciation, Depletion and Amortisation Expenses: These expenses also went up slightly in the fiscal to INR 1.72 Cr from INR 1.35 Cr spent a fiscal ago.
