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HomeFunding & InvestmentAstroTalk Records 12-Fold Profit Surge, Hits Rs 100 Crore in FY24

AstroTalk Records 12-Fold Profit Surge, Hits Rs 100 Crore in FY24

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Astrology’s appeal remains strong in India, and AstroTalk has positioned itself as a leader in the spiritual-tech sector. Building on its FY23 success, the Noida-based company recorded over 200% revenue growth for the fiscal year ending March 2024, while net profits climbed nearly 12 times during this period.

AstroTalk’s revenue jumped 2.3 times to reach Rs 651.12 crore in FY24, up from Rs 283.32 crore in FY23, according to its financial report filed with the Registrar of Companies (RoC).

As a digital platform for astrology consultation, AstroTalk links users with professional astrologers via its app and website. Revenue from India doubled to Rs 529.6 crore, and international income surged 4.2 times to Rs 121.44 crore in FY24.

In addition to operational earnings, AstroTalk garnered Rs 8 crore from interest income, bringing the total revenue for FY24 to Rs 659 crore.

Examining expenses, employee-related costs accounted for 5.5% of total outflows, increasing 28.29% year-on-year to Rs 29.61 crore. Spending on advertising and promotion rose by 116% to Rs 162.68 crore, while legal and professional fees, which made up 60% of expenses, rose 103% to reach Rs 319 crore. Additional costs for finance, software, and website maintenance contributed to AstroTalk’s overall expenditure increase of 97.9%, totaling Rs 531 crore in FY24.

AstroTalk’s impressive 11.8-fold profit increase reached Rs 99.99 crore by March 2024. The company’s ROCE and EBITDA margin stood at 40.16% and 19.42%, respectively. Operating expenses per unit revealed that AstroTalk spent Rs 0.82 for every rupee of revenue generated.

Astrology and spiritual tech startups continue to attract substantial investment, even amid economic fluctuations. Recent data from TheKredible indicates that companies like AstroTalk, Vama, Ustav App, DevDham, InstaAstro, and Melooha have collectively secured nearly $60 million over the past 15 months. Puneet Gupta’s AstroTalk itself raised $34 million across two funding rounds this year.

While some might be surprised by the rapid growth of astrology-based apps, these numbers underscore the formalization of sectors previously under the tax radar, adding value to the economy. It’s also a reflection of today’s consumer mindset, where convenience and instant answers drive demand—even in spirituality.

Looking ahead, AstroTalk is poised for strong growth and might not require further funding. The big question remains: will the company pursue an IPO to provide investor exits, or will private buyers step in for acquisition? Perhaps only an astrologer could predict that.

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