Astrology & Hope Sells Like Hotcakes in India - AstroTalk Profit Zooms 100 Crores in FY24

SIBY JEYYA
In india, astrology is very popular, and AstroTalk has become a prominent player in the spiritual technology industry. In the fiscal year that ended in march 2024, the Noida-based firm saw growth of over two times, and its profit increased by about twelve times, just as in FY23.
According to its annual financial statement submitted to the Registrar of Companies (RoC), AstroTalk's operating income increased by 2.3X to Rs 651.12 crore in the most recent fiscal year from Rs 283.32 crore in FY23.
 
AstroTalk is a wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital platform for astrological consulting that uses online and mobile apps to link people with qualified astrologers. In FY24, its revenue from outside nations (export) increased 4.2X to Rs 121.44 crore, while its income from india increased 2X to Rs 529.6 crore.

The company's overall revenue in FY24 was Rs 659 crore, which included an extra Rs 8 crore from interest in addition to operational income.
 Examining the costs, employee benefit costs made up 5.5% of the total and rose 28.29% from the previous year to Rs 29.61 crore in FY24. In the previous fiscal year, advertising and promotional expenditures rose by 116% to Rs 162.68 crore. Crucially, 60% of the overall cost was made up of legal and professional fees, which rose by 103% to Rs 319 crore in FY24.

Despite a number of obstacles, astrological and spiritual tech businesses managed to get significant finance. Startups in this industry, including AstroTalk, Vama, Ustav App, DevDham, InstaAstro, and Melooha, have raised about $60 million in the last 15 months, according to data from TheKredible. In two rounds this year, Puneet Gupta's AstroTalk alone raised $34 million.
 
 
 
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