SUMMARY
- Josh Talks’ operating revenue increased to Rs 18.7 crore in FY24 from Rs 18.3 crore in FY23.
- The total expenses for FY24 amounted to Rs 29.3 crore, representing an 8.7% decrease from Rs 32 crore in FY23.
- Josh Talks was able to reduce its losses by 25%, achieving a loss figure of Rs 9.88 crore in FY24.
Gurugram-based Josh Talks‘ operating revenue increased to Rs 18.7 crore in FY24 from Rs 18.3 crore in FY23 as indicated by its standalone financial statements with RoC.
The primary sources of operating income for Josh Talks were revenue generated from services, including partnerships, sponsorships, and events.
Moreover, the company reported earning an additional Rs 65 lakhs from interest on fixed deposits and income tax refunds, which contributed to a total income of Rs 19.37 crore in FY24.
Josh Talks is a platform for sharing inspiring stories of individuals who have triumphed over adversity to achieve success in various domains. The organization aims to empower its audience through authentic narratives that inspire and encourage them to chase their aspirations.
In addition to its core mission, Josh Talks offers a range of services such as language learning, skill development, preparation for examinations, and opportunities for brand partnerships.
The cost of employee benefits accounted for 47.5% of the total expenses, showing an increase of 2.7% to Rs 14 crore in FY24. Advertising and promotional expenditures saw a decrease of 18%, reaching Rs 3.65 crore for the same period. Legal and professional fees also experienced a reduction of 7.3%, amounting to Rs 3.68 crore.
The total expenses for FY24 amounted to Rs 29.3 crore, representing an 8.7% decrease from the total expense of Rs 32 crore in FY23.
As a result of these cost-saving measures, Josh Talks was able to reduce its losses by 25%, achieving a loss figure of Rs 9.88 crore in FY24. The company’s ROCE was calculated at -100.41%, with an EBITDA margin of -41.4%. Josh Talks spent Rs 1.56 to generate a rupee of operating income in FY24.
In February 2020, the company secured its first funding of $1.5 million, followed by an additional $3.2 million in May 2022. The co-founders, Supriya Paul and Shobhit Banga, each possess a 32.75% stake in the company, as reported by TheKredible. Ankur Capital holds the largest external stake, followed by the Michael & Susan Dell Foundation.
