ShareChat says adjusted EBITDA losses fell sharply in FY24 to Rs 793 crore

Homegrown societal media institution ShareChat connected Tuesday said its adjusted EBITDA losses fell by 67 per cent year-on-year to Rs 793 crore successful FY24, amid 33 per cent maturation successful revenue.

The institution further said it is connected way for a currency breakeven by March 2025.

With improved fiscal metrics, the institution expects to commencement investing backmost into maturation and is connected "actively" lookout for inorganic opportunities done acquisitions. Organic maturation volition hap done the enlargement of the idiosyncratic basal and expanding gross per user. ShareChat has societal media brands specified arsenic ShareChat app and Moj nether its portfolio.

While the institution is sufficiently capitalised for now, it is looking astatine "adding much radical to headdress array up of preparations for IPO journey". It is eyeing timelines of 18-24 months for a imaginable IPO, depending connected marketplace conditions.

"We volition effort and bash 1 much backing circular earlier we bash IPO...Possibly adjacent year... But we don't request superior truthful we volition clip it based connected involvement successful the market," Manohar Singh Charan, Chief Financial Officer, ShareChat and MOJ said astatine a briefing.

ShareChat said it has posted a 33 per cent Y-o-Y maturation successful gross to Rs 718 crore successful FY24. This is up from Rs 540 crore it clocked successful FY23.

"ShareChat besides made important strides successful reducing losses arsenic adjusted EBITDA losses fell by 67 per cent from Rs 2,400 crore successful FY23 to Rs 793 cr successful FY24," the institution said successful a statement.

ShareChat is expecting EBITDA losses for FY25 to beryllium astir one-third of FY24 and the consolidated concern to commencement generating affirmative currency travel by aboriginal FY26.

For FY24, ShareChat's advertizing gross registered a maturation of 23 per cent Y-o-Y, touching Rs 315 crore "despite a challenging macroeconomic landscape". The livestreaming conception recorded a 41 per cent Y-o-Y uptick to Rs 402 crore for the fiscal twelvemonth 2024. The surge was driven by continued maturation momentum successful paying idiosyncratic number crossed some ShareChat and Moj platforms, the institution said.