ISN Exclusive: AstroTalk hires new CFO to beef up top deck

Astrology startup AstroTalk is said to have completed its move to hire itself a new chief financial officer (CFO), according to sources who spoke to IndianStartupNews (ISN) on the condition of anonymity.

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The Noida-based startup has roped in Dipak Khaitan, who will now assume the role of CFO at the fast-growing company, sources said. Khaitan is a chartered accountant by profession and will helm the finance operations at AstroTalk. The company is due to announce his appointment over the coming weeks.

AstroTalk has a new CFO shortly after it has reported a massive 1,000% increase in profits for the fiscal year ending March 2024. According to its annual financial statement filed with the Registrar of Companies (RoC), the startup's profit surged by 1,080%, reaching Rs 99.99 crore.

This significant profit growth was driven by over 100% increase in revenue from operations, which rose to Rs 651.12 crore in FY24, up from Rs 283.32 crore in FY23.

Having a CFO early on also helps with subsequent fundraises and is needed when a company is growing at a rapid pace.

This will be at least the second top level hire at AstroTalk.

AstroTalk has hired Damandeep Soni as its chief business officer (CBO) for its e-commerce venture, months after he stepped down from his role as president and CBO at GlobalBees.

The move is part of AstroTalk’s effort to expand its online store for spiritual and astrology-based products. The Noida-based startup claims to have built a strong presence in the astrology consultation market, and now aims to reach more consumers through a growing e-commerce platform.

Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a globally managed marketplace that connects consumers to astrologers for horoscope readings, birth chart analysis, live prayers and more.