Daijiworld Media Network - New Delhi

New Delhi, Apr 25: Boult Audio, the Delhi-based bootstrapped consumer electronics brand, reported a sharp 37% fall in its net profit to Rs 2.5 crore in FY24, compared to Rs 4 cr in the previous fiscal, despite a robust revenue growth.

The company’s operational revenue rose by 40% to Rs 697 cr in FY24 from Rs 498 cr in FY23. Including Rs 5 cr in non-operating income, the total revenue stood at Rs 702 cr.

However, a surge in operating costs overshadowed this growth. Material costs rose by 25% to Rs 402 cr, accounting for nearly 58% of total expenses. Advertising costs soared by 74% to Rs 162 crore, while post-supply discounts jumped 84% to Rs 70 cr.

As a result, Boult’s total expenses increased by 41% to Rs 699 cr, significantly impacting the company's bottom line.

Domestic sales grew by 45% to Rs 620 cr, while international sales held steady at Rs 77 cr, contributing 11% to total revenue.

Co-founded by Varun Gupta and Tarun Gupta, who jointly own 49.5%, Boult remains one of the few bootstrapped players in India’s fiercely competitive consumer electronics space.

Analysts note that while the brand is scaling up operations and visibility, mounting cost pressures and intense market competition continue to challenge profitability.