BookMyShow FY24 revenue soars 43% on booming live event earnings
The online ticket booking platform reported a net profit of Rs 108.63 crore in FY24 compared to Rs 85.11 crore in FY23.
on Tuesday reported a 43.2% rise in revenue helped by rising income from live events along with rising demand from its online ticket booking services.
It reported a revenue from operations of Rs 1,396.8 crore in the year ended March 31, compared to Rs 975.51 crore in the previous year.
The company also reported a nearly 28% rise in profits to Rs 108.63 during the period.
However, expenses for the period rose to Rs 1,319.8 crore compared to Rs 940.9 crore in the previous year as the company saw a rise in stock-in trade expenses as well as employee benefit expenses, which includes salaries and bonuses, among others. Stock-in trade expenses refer to costs associated with the goods a company purchases or produces to sell as part of its core operations.
BookMyShow primarily earns revenue from selling online tickets to movies and live events as well as through providing turnkey ticketing solutions. It also earns from advertising and marketing along with sale of food and beverages.
In FY24, income from online tickets booking constituted 53% of its total revenue from operations while income from live events contributed 32.5% to its total revenue.
The Reliance Industries-owned company competes with Paytm Insider, which was recently acquired by food delivery platform Zomato as it looks to enter India’s live events segment.
Edited by Jyoti Narayan