Wakefit achieves EBITDA Profitability in FY24 with 24% Revenue Growth
The maker of home furnishings and sleep aids Wakefit continued its upward trajectory with a 21 percent increase in operating profits year-over-year during the fiscal year ending March 2024. During the same period, the Peak XV-backed company reduced its losses by 90% and achieved EBITDA positivity with 
65.9 crore. Notably, the company achieved EBITDA positivity with 65.9 crore.
The company's financial statement filed with the Registrar of Companies shows that its revenue from operations jumped to 986.4 crore in FY24, compared to 812.6 crore in the previous fiscal year.
The sale of products increased 21.47% and accounted for 967.86 crore in FY24. During the said fiscal year, income from scrap sales and other minor sources also rose by 16.73% to 18.49 crore.
The firm's earnings from interest on bank deposits jumped by 5.8x to 19.38 crore in the fiscal year, bringing its total revenue to 1,017.33 crore.
Material costs remained the largest expense at 465 crore, contributing 45.04% of total costs. There was a 27.3% increase in employee benefit expenses. The cost of courier and delivery services increased by 24.8% to 82.19 crore, while advertising expenditures fell by 19.3% to 77.36 crore. Additional expenses totaled 273.2 crore in the fiscal year. The firm's total expenses increased by 6.9% to 1,032.4 crore in FY24.
In the end, Wakefit was able to decrease its losses by 90% to Rs 15 crore from 145 crore in FY23. In FY24, the Bengaluru-based company achieved a positive EBITDA of 65.9 crore. The company's return on capital employed and earnings per share grew to 0.29% and 6.48%, respectively.
.jpg "Sunrich Green Energy : Illuminating the Path to Clean, Affordable & Trusted Solar Solutions")
