boAt returns to profitability after 2 years; posts Rs 60 cr profit in FY25

New Delhi, Oct 6 (PTI) Imagine Marketing, the parent company of wearables brand boAt, on Monday said it has returned to profitability in FY25 with a consolidated net profit of Rs 60 crore after reporting losses in the preceding two years.

This was a significant turnaround from a net loss of Rs 79.7 crore in FY24 and Rs 129.5 crore in FY23.

"The turnaround was driven by category leadership, product innovation, and disciplined cost control," the IPO-bound company said in a statement.

The Gurugram-based company reported a consolidated revenue of Rs 3,097.8 crore, supported by sustained market dominance in audio, strategic growth in wearables, and strong traction in new businesses.

On a standalone basis, the company's revenue in FY25 stood at Rs 3,089.6 crore with a net profit of Rs 64.2 crore.

"Through cost discipline, innovation, and a deep understanding of consumer needs, we have not only returned to profitability but also laid the foundation for long-term sustainable growth. From strengthening our leadership in audio to reimagining wearables and entering new categories, we are building a future-ready, diversified organisation," Gaurav Nayyar, CEO of boAt, said.

In FY25, boAt reinforced its leadership in the audio category, maintaining a strong double-digit share in India's personal audio segment. Its premium range, ‘Nirvana by boAt’, also contributed to this growth. The company also diversified its portfolio, expanding into new growth segments with over 100 new products launched during the year.

In addition to domestic growth, boAt has steadily expanded its international footprint, gaining strong traction in GCC markets.

boAt filed draft papers with Sebi in April for reportedly raising Rs 2,000 crore through its maiden public issue. It received regulatory nod in late August to float the public issue.

The company had filed draft papers using a confidential pre-filing route, which allows the company to withhold public disclosure of details under the draft red herring prospectus until later stages. PTI SP SP MR