DailyHunt parent VerSe Innovation reduces EBITDA burn by 51% in FY24
Verse is projecting a revenue growth of over 75% in FY25, exceeding the 10-15% growth rate expected from the Indian digital ad sector
Pitch Feature
Dailyhunt parent VerSe Innovation has reported a total revenue of Rs 1,261 crore in FY24 from Rs 1,809 crore in FY23, down by 30.3%. According to its press release, the company’s EBITDA was
reduced by 51% during the last fiscal year, dropping from Rs 1,448 crore in FY23 to Rs 710 crore in FY24.
The company said that the losses exclude their non-cash expenses. Its cost of services was reduced by 17% to Rs 1,155 crore and business promotional expenses down by 65% from Rs 969 crore to Rs 339 crore during the March 2024 fiscal.
Verse is projecting a revenue growth of over 75% in FY25, exceeding the 10-15% growth rate expected from the Indian digital ad sector. The company has made investments in AI-led tools and platforms to support its growth plans.
The company is also aiming to break even in the second half of 2025, targeting growth through a mix of product innovations, AI and monetization efforts.
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