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Lifestyle Brand boAt Registers 118.67% Surge In Revenues, Profit Dips 20%

In FY2022, boAt's revenue from operations stood at Rs 2,873 crore compared to Rs 1,314 crore in FY 21

Lifestyle Brand boAt Registers 118.67% Surge In Revenues, Profit Dips 20%
boAt Facebook Page

Outlook Start-Up Desk

POSTED ON January 20, 2023 12:54 PM

New Delhi-based lifestyle brand boAt registered a 118.67 per cent surge in its operating revenues in the financial year ( FY) 2022. However, it saw its profit dipping by 20 per cent compared to the previous financial year. 

In FY2022, boAt's revenue from operations stood at Rs 2,873 crore compared to Rs 1,314 crore in FY 21. It had a profit of Rs 68.70 crore in FY22 compared to Rs 86.50 crore in FY 21.

Revenues from the sale of audio products like wired and wireless earphones, wireless and wired headphones, wireless speakers and sound bars touched Rs 2,276 crore in FY22 from Rs 1,228.6 crore in FY21, reporting an 85.25 per cent increase. Additionally, the company earned Rs 515.5 crore from Rs 54.80 crore from its smartwatches. It registered an 840.69 per cent jump. 

From cables, charges, men's grooming kits and gaming equipment, it achieved Rs 79.2 crore in revenues in FY22 from Rs 30.3 crore in FY21. 

Along with revenues, it also witnessed a surge in net expenses. In FY22, boAt's total costs reached Rs 2,787 crore, registering a 131.83 per cent increase. 

In October 2022, boAt raised $60 million from Warburg Pincus and Malabar Investment. It also filed its DRHP for Rs 2,000 crore for a potential IPO. However, seeing the hardships in the market, the company withdrew its plans

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