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Wakefit Slips Into Losses After Crossing Rs 400 Cr in Revenue

Wakefit is one of the few growth-stage startups that have managed to cross Rs 400 crore revenue mark within 5 years of its inception. Wakefit registered 2.07X growth in its operating revenue to Rs 408.59 crore in the last fiscal year from Rs 197.44 crore in FY20.

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Wakefit Slips Into Losses After Crossing Rs 400 Cr in Revenue

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  1. Wakefit SlipsInto LossesAfterCrossingRs400Crin Revenue Wakefitisamongthefewstartupsinthegrowthstagethathassurpassed$400croreinrevenuewithinfiveyearsofitsdebut.Thesleep-relatedfurniturebusinesshasseena2.07Xincreaseinoperatingrevenueto408.59croresoverthecourseofthefiscalyear,comparedto197.44croresforFY20-Wakefit'sfinancialstatementsfortheyearindicated. Wakefithasgenerated94.74percentofitsrevenuebysellingmanufacturedmattresses,pillows,andotheraccessoriesthatjumped2.07Xto387.1millioninFY21,upfromthepreviousyear's187.16millioninthepreviousfinancialperiod(FY20). Thesaleoftradableproducts,includingpillows,neckpillows,pillowprotectorsandstudychairs,andcomfortersandcushions,hasincreasedby55%to11.95croresforFY21,upfromthefigureof7.69croresinFY20.Therevenuefromthesaleofservicesstoodat4.51croreinthepreviousfiscalyear.ThiswasthesameasinFY20.Scrapsaleshavealsoaddedsomemoneytothecompany'sbankaccountsduringthefiscalyearthatendedinMarch2021.Inlinewithearnings,thecostsofthefirmincreased2.47Xto454.22croreforFY21,contrastedto184.22millioninFY20. Alsoread:Ashneer GroverDemandsRs.4000Croreto LeaveBharatPe Sincetherevenuegrewbymorethantwotimes,themainexpenseofthemattressproductionfirmisthecostofmaterials.Itaccountedfor54%oftotalexpendituresinFY21.Thecostincreased2.52XtotheamountofRs245.23croreforFY21,upfromtheRs97.32croresinFY20.

  2. BenefitsforemployeesarethesecondmostsignificantexpenseforWakefit,whichaccountsforBenefitsforemployeesarethesecondmostsignificantexpenseforWakefit,whichaccountsfor 12.71percentofthetotalexpenseinFY21.Thisexpensegrew3.42Xto57.75millioninFY21comparedtotheamountof16.88millioninFY20.Ofthetotalbenefitsforemployeesaccountedfor, 7.1croresarespentonESOP-basedpayments.Wakefitslippedintolossesaftertheriseof2.47xinitstotalexpenses. Youmayalsolike:boAt’sRevenueExceedsRs.1,500Cr WakefithasshownanimpressiveincreaseinitsrevenueoverFY21.ThecompanyhasreachedthemarkofRs400croreofoperatingprofitswithsoliduniteconomics.Andwhenwelookatthisincomparisontootherstartupsthataresimilarinsize,it'sahugeimprovement.Ifthecompanycontinuestogainmomentum,itshouldn'tbeasurprisetoanypersontowitnessWakefitbecomeaunicorninthesecondquarterofthisyear,especiallyconsideringthatthecompany'slastfundraisinginNovember2021waswithapriceof2800crore.Theonlythingholdingitbackistheintensecompetitioninthespaceandthetraditionalplayerswhoaretryingtogetbetteragainstthefast-growingstartups. Getallthelateststartup newsandupcomingIPOnewsonEntrackr.

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