Online gifting platform Ferns N Petals logs Rs 24.2 cr loss in FY24

Popular online gifting platform Ferns N Petals reported Rs 24.26 crore loss 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, an increase from 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 remaining income came from delivery charges and other income. In FY24, the company’s expenses increased by about 2 per cent on an annual basis to Rs 736.7 crore, which was Rs 723 crore in FY 23.

In last fiscal, the cost of material accounted for 42.3 per cent of the total expenditure of the company. It has increased by 12.4 per cent on an annual basis to Rs 312 crore, which was Rs 277.6 crore in the FY 23.

Expenditure on employee benefits has increased by 2.8 per cent to Rs 124.49 crore in FY24. During this period, the company’s expenditure on advertising was Rs 156.65 crore and transportation and other expenses were Rs 143 crore.

According to the financial statement, the company has spent Rs 1.04 to earn an operating income of one rupee in FY24.

According to reports, Ferns N Petals has raised a total funding of Rs 206.5 crore so far. Lighthouse is one of the main investors of the company.

Apart from this, the company also operates hospitality and wedding business through Udaman Hotels and FNP Weddings and Events.

(With inputs from IANS)