The Noida-based online astrology company Astrotalk has more than doubled its operating revenue for FY 2024 at INR 651 crore ($80 million). These impressive figures highlight the growing popularity of online astrology and the ability of the company to grow domestically and internationally.
Image Source: Astrotalk
Vision of Astrotalk
Astrotalk was founded in 2015 by Anmol Jain and Puneet Gupta. Astrotalk has become one of the most prominent online astrology platforms on the internet. The company relies heavily on astrology but emphasizes 21st-century technology seems to have worked well for the firm in terms of marketing. In terms of revenue, Astrotalk’s performance demonstrates a successful business model and expansion plans. The company achieved a net profit level of INR 94 crore in FY24, which is significantly more than ten times than in the previous year, proving the firm’s operational capability and market dominance.
Revenue Growth
Astrotalk has been experiencing high revenues and it is due to the company’s aggressive growth strategy. The company has expanded its operations in both the domestic and international spheres to accommodate a vast number of customers interested in astrology. International sales contribute to almost 20 % of its Total Sales, signifying its increased presence in the global space.
It brings together about 4.5 million paid sessions monthly with customers who consult with astrologers, where marriage consultation is the most common followed by employment consultations. The number of free sessions that Astrotalk provides stands at approximately 6 million, which proves the platform’s popularity.
Technology based Growth
Astrotalk focuses on the use of technology in improving user experience and optimizing processes. The company uses a revenue-sharing business model more than 10,000 active astrologers in its network. This model not only guarantees the constant earnings of astrologers but also enables Astrotalk’s growth. Pricing varies from INR 10 to INR 200 per minute; this ensures that anyone can use its services. The company has been able to grow aggressively using its best-in-class technologies and products while at the same time constantly managing its fixed costs leading to better Margins.
Focus on Operational Efficiencies
The expenditure on marketing has also gone up considerably to INR 157 crore in FY24 from INR 74 crore in FY23. Overhead expenses especially those associated with employees have also increased due to increased hiring to cater for its expansion. The company’s ability to easily scale operations without having to worry much about the overheads or fixed costs has been a boon for Astrotalk. The strategy to optimize operational effectiveness at the company in the marketing, product, and service delivery value chains has paid off in terms of margins and profitability.
Conclusion
Astrotalk has impressive revenue growth in FY24, which could speak volumes about the company’s business model, growth strategies, and the ineffaceable potential of such a business when it comes to leveraging technology. The company doubles its revenue from what it was when it was founded, to INR 651 crore speaks volumes about the newfound fad for online astrology services and Astrotalk’s favorable position.
0 Comments