Over-the-top (OTT) platform Ullu saw a slight 7% year-over-year revenue increase for the fiscal year ending in March 2024, following a two-fold growth in FY23. But in the same time frame, the Mumbai-based business saw a decline in profits of more than 16%.

According to Ullu's financial statement obtained from the Registrar of Companies (RoC), the company's revenue from operations increased to 99.7 crore in the most recent fiscal year from 93 crore in the previous fiscal year.

A subscription-based platform called Ullu provides a large selection of streaming video content, a lot of which is soft porn. 99.9% of the company's operating revenue came from the sale of content, making it the main source of income. From 92.44 crore in FY23 to 99.5 crore in FY24, this income grew by 7.7%.

In FY24, revenue from product sales fell precipitously, by 82.9% to 12 lakh. Nevertheless, interest income brought in an extra 50 lakhs for the company, making its total revenue 100.18 crore.

Cost of materials (content creation) remained the highest expense on the expense side, increasing by 28.7% to 46.24 crore, or 55.4% of the total costs. While employee benefit costs increased 41% to 11.89 crore, advertising expenses decreased by 25.7% to 14.95 crore. Significant additional costs included rent of 2.38 crore and legal professional fees of 2.83 crore. Ullu's overall expenses increased to 83.5 crore in FY24, a 15.5% increase.