Popular online gifting platform Ferns N Petals reported a loss of Rs 24.26 crore last fiscal (FY24), from Rs 109.5 crore in FY23. According to its financial statements filed with the Registrar of Companies (ROC), the company's income from operations stood at Rs 705.4 crore in FY24, as against Rs 607.3 crore in FY23.
Ferns N Petals sells products through its website, third party e-commerce platforms, company-owned stores, and franchises.
The cakes, flowers and gifting solutions segments account for 91 per cent of the company's revenue. It has increased by 15 per cent on an annual basis to Rs 640.75 crore in FY24, which was Rs 556.18 crore in FY23.
Apart from this, the rest of the revenue came through delivery charges and others. The total expenses for the company were Rs 736.7 crore in FY24, or about 2% up on an annual basis from Rs 723 crore in FY 23.
In last fiscal, material accounted for as much as 42.3 per cent of the total expenditure of the company. It has risen 12.4 per cent from the annual cost to Rs 312 crore. It was Rs 277.6 crore during FY 23.
The company has also increased expenditure on employee benefits to 2.8 per cent to Rs 124.49 crore during FY24. During the period, the company incurred an expenditure of Rs 156.65 crore on advertising and Rs 143 crore on transportation and other expenses.
The financial statement says that the company has spent Rs 1.04 to generate an operating income of one rupee in FY24.
As of now, Ferns N Petals has reported a collective funding amount of Rs 206.5 crore. Lighthouse is one of the two principal investors of the company.
The company's hospitality and wedding business are carried out with Udaman Hotels and FNP Weddings and Events.
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