Aman Gupta-led boAt reports Rs 61 crore profit in FY25 ahead of IPO

Consumer electronics brand boAt has posted its first profit in two years, turning in a net income of Rs 61.08 crore for fiscal year 2025, compared with a loss of Rs 79.68 crore a year earlier, according to company filings and news reports. 

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The results come as the Mumbai-based company prepares for an initial public offering, aiming to raise about Rs 2,000 crore after receiving approval from the SEBI.

Revenue slipped slightly to Rs 3,073.3 crore from Rs 3,117.7 crore in fiscal 2024. Including other income, total revenue came in at Rs 3,097.8 crore, marginally lower than the previous year’s Rs 3,135.4 crore. Sales of products such as earbuds, speakers and wireless headphones contributed Rs 3,070.4 crore, while other operating income stood at Rs 2.9 crore.

India remained boAt’s primary market, generating Rs 3,050.5 crore, but international sales climbed 44% year-on-year to Rs 20 crore. Audio products were the mainstay, bringing in Rs 2,586 crore, up 5% from the previous year. By contrast, wearables continued to drag, with revenue falling 40% to Rs 330.4 crore, marking a second consecutive annual decline.

Expenses fell 6% to Rs 3,040.4 crore from Rs 3,233.6 crore. Purchases of stock-in-trade dropped nearly 9% to Rs 2,069.8 crore. Advertising costs rose 7% to Rs 389.7 crore, while employee expenses inched up to Rs 134.8 crore.

The company also recorded an exceptional income of Rs 8.6 crore from the sale of its stake in beauty and personal care brand Kimirica, a transaction carried out by its subsidiary HOB Ventures earlier this year.

boAt, incorporated as Imagine Marketing, has raised more than $170 million in funding, including a $60 million round led by Warburg Pincus and Malabar Investments in 2022. Warburg Pincus is the largest external shareholder, followed by Fireside Ventures and Qualcomm, according to startup data platform TheKredible.

If the IPO proceeds, boAt will become the first Indian direct-to-consumer electronics brand to list publicly. The company had shelved earlier listing plans in 2022, citing unfavorable market conditions.