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Wakefit’s revenue rose 25% to Rs 1,017 crore in FY24.
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Net loss decreased by 90% to Rs 15 crore due to better cost control.
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Company expects 30% revenue growth in FY25, reaching Rs 1,320-1,400 crore.
Wakefit, a leading direct-to-consumer (D2C) home and sleep solutions company, has reported a 25% increase in revenue to Rs 1,017 crore in FY24. The Bengaluru-based startup also significantly reduced its losses by 90% to Rs 15 crore during the same period.
According to co-founder Chaitanya Ramalingegowda, Wakefit’s improved financial health is attributed to better control over costs and enhanced factory utilization, leading to improved margins. The company’s investors are satisfied with the year-on-year performance, but the founders aim for further growth.
Wakefit expects revenue to grow another 30% in FY25, reaching Rs 1,320-1,400 crore. The company attributes this growth to increased discretionary spending, as consumers are now more inclined to spend money. Wakefit sells its products through e-commerce platforms like Flipkart and Amazon, as well as its physical stores and website.
The company plans to expand its product categories, strengthen its omnichannel presence, and enhance brand visibility. With over 80 stores, Wakefit aims to increase its store count in the coming months. Having raised around $150 million in funding, Wakefit has sufficient capital to drive growth, said Ramalingegowda.
