B2B unicorn OfBusiness' revenue from operations grew to Rs 15,342 crore in FY23 from Rs 7,139 crore in FY22, according to its consolidated financial statements sourced via Tofler.
Trading contributed to 82% of the GMV, while manufacturing accounted for 25% of the total collections. The remaining revenue was generated from financial services and other operational activities.
The startup's expenditure on material procurement was 91% of the total costs, which increased 2X to Rs 13,686 crore in FY23 from Rs 6,611 crore in FY22.
Unlike other unicorn startups, The startup's ability to scale and maintain control over overheads resulted in a 2.3X growth in profits, reaching Rs 463 crore in FY23 from Rs 201 crore in FY22.
Key metrics such as ROCE and EBITDA margins were recorded at 9.28% and 6.31% respectively in FY23. For every unit of operating revenue, the company spent Rs 0.98.