Cropin Technologies cuts net loss by 25.04% in FY24
The company’s revenue from operations grew from Rs 2,686.29 lakh in FY2023 to Rs 3,115.86 lakh in FY2024, marking an increase in its income from services.
Technologies, an AI platform for food and agriculture, reported a decrease in net loss from Rs 8,388.05 lakh in FY2023 to Rs 6,287.76 lakh in FY2024.
Its reduction in losses came despite high operational expenses and a challenging economic environment.
The company’s revenue from operations grew by 15.99% from Rs 2,686.29 lakh in FY2023 to Rs 3,115.86 lakh in FY2024, marking an increase in its income from services. Additional revenue sources brought in Rs 460.41 lakh in other income, up from Rs 331.86 lakh the previous year. Total income for FY2024 was reported at Rs 3,576.27 lakh, a rise from Rs 3,018.15 lakh in FY2023.
Cropin’s total expenses decreased by approximately 13.5%, from Rs 11,406.20 lakh in FY2023 to Rs 9,864.03 lakh in FY2024. This included notable reductions in employee benefit expenses, which declined from Rs 5,937.75 lakh to Rs 5,219.04 lakh, and finance costs, which fell from Rs 278.39 lakh to Rs 144.21 lakh.
It has registered improvement in earnings per share, with the basic and diluted EPS rising from Rs 7,802.84 to Rs 5,849.08. However, Cropin Technologies’ financials expenses surpassing income and a net loss of Rs 6,287.76 lakh for the year.
Founded in 2010, Cropin is an advanced AI platform for food and agriculture. Cropin Cloud, the first industry cloud for agriculture, enables stakeholders to enhance farming efficiency, productivity, and sustainability using digital technology and predictive intelligence. Cropin leads the Ag-intelligence movement with 250+ B2B customers, digitising 30 million acres and impacting 7 million farmers globally.
Its crop knowledge graph—covering 350 crops, 10,000 varieties, across 103 countries—provides predictive insights for over 200 million acres worldwide. Cropin unites agribusinesses, agencies, and governments to leverage Agtech in transforming food systems and achieving climate goals.
The company recently launched Sage, a real-time AI-powered platform utilising Google Cloud's Gemini model, aimed at transforming agricultural decision-making. Sage enables stakeholders across the agri-food industry to make data-driven, climate-smart decisions by mapping global agricultural landscapes and forecasting crop performance.
This tool underscores Cropin’s commitment to advancing food security, productivity, and sustainable agriculture on a global scale. Cropin’s continued efforts to innovate in agritech, despite financial headwinds, reflect a drive to address challenges in the agriculture sector with cutting-edge AI solutions.
Edited by Megha Reddy