Apna reports 278% growth in revenue for FY21-22
Apna's losses also widened to Rs 112.5 crore in comparison to Rs 28.27 crore in the previous year.
India's youngest Unicorn has reported a revenue of Rs 63.9 crore for FY 2021-22, which is a 278% growth when compared to Rs 16.95 crore in FY21, according to filings with the Ministry of Corporate Affairs (MCA).
A professional networking platform for blue- and grey-collar workers, Apna's revenue from recruitment solutions was Rs 2.28 lakh, and majority of its revenue came from providing software development support services to the holding company.
Apna's losses also widened to Rs 112.5 crore in comparison to Rs 28.27 crore in the previous year. Meanwhile, its total expense went up to Rs 178.3 crore from Rs 45.4 crore a year ago, an increase of 293%.
Apna's advertising promotional expenses is its largest expense at Rs 86.63 crore compared to the previous year where it was Rs 16.88 crore, registering a 400% increase. Employee benefit expense is the second biggest expense at Rs 75.8 crore, an increase from last years' Rs 25.95 crore. This includes expense on employee stock option scheme and employee stock purchase plan at Rs 11.92 crore.
Apna also reported that its training recruitment expenses increased to Rs 3.23 crore from Rs 34.94 lakh.
Apna entered the unicorn club in 2021 after raising $100 million in Series C funding led by Tiger Global. The round also saw participation from Owl Ventures, Insight Partners, Sequoia Capital India, Maverick Ventures, and GSV Ventures.
Apna has helped over 50 lakh jobs across more than 70 cities and is used by more than two lakh companies, according to its website. Last year, the company added 10 new locations–Ahmednagar, Dhanbad, Bareilly, Saharanpur, Warangal, Puducherry, Bhavnagar, Jamnagar, Gorakhpur, and Ujjain.
Edited by Akanksha Sarma