BookMyShow's profit rises 27% to Rs 109 crore in FY24; revenue reaches Rs 1,397 crore

Online ticketing giant BookMyShow has recorded significant growth and profitability in the fiscal year ending March 2024, marking a pivotal turnaround after a challenging period during the pandemic.

The company reported a net profit of Rs 108.63 crore, a 27.6% increase from Rs 85 crore in FY23, supported by a 43% rise in operating revenue, which reached Rs 1,396.86 crore. 

Robust growth in revenue streams

BookMyShow’s revenue has grown more than fivefold since FY22, driven by its primary segments.

Online ticketing remained the backbone of the platform, contributing Rs 801.57 crore, or 57.4% of the total revenue, with a 23.8% year-on-year increase. The live events segment surged by 91.5%, bringing in Rs 454.72 crore, accounting for 32% of the overall revenue.

Additional earnings were derived from advertising, marketing, food and beverage sales, and software, which together generated Rs 140.57 crore, while financial gains and interest added another Rs 33.28 crore, boosting total revenues to Rs 1,430.14 crore.

Heavy expenditure weighs on live events 

While online ticketing and auxiliary streams generated profits of Rs 258.65 crore and Rs 84.13 crore, respectively, the live events segment reported a loss of Rs 137.99 crore.

The company’s operational expenses rose sharply by 40% to Rs 1,319.88 crore in FY24, fueled by increased spending on artist fees (103.3% rise to Rs 211.32 crore), production costs (95% jump to Rs 233.49 crore), and revenue sharing with cinema owners (Rs 323.03 crore).

Founded in 1999 by Ashish Hemrajani, Parikshit Dhar and Rajesh Balpande, BookMyShow is an online ticketing platform for movies and events and operates with 17 subsidiaries and two joint ventures.