Wakefit.co crosses ₹1,000 crore in revenue, sees net profit by FY25-end - BusinessLine
16 October 2024
Wakefit, a Bengaluru-based mattress and furniture manufacturer, achieved a 24% year-over-year revenue increase, reaching Rs 1,017 crore for the financial year ending 31st March 2024. The company also announced a return to profitability, posting EBITDA of Rs 65 crore after being profitable in its first four years of operation.
The company’s reported operating revenue was approximately Rs 985 crore in FY24, an increase from Rs 813 crore in the previous year.
Co-founder Chaitanya Ramalingegowda credited the revenue growth to the company’s strengthened omnichannel presence, with mature stores, new outlets opening, and the advantages of an automated mattress factory.
Wakefit, a Bengaluru-based mattress and furniture manufacturer, achieved a 24% year-over-year revenue increase, reaching Rs 1,017 crore for the financial year ending 31st March 2024. The company also announced a return to profitability, posting EBITDA of Rs 65 crore after being profitable in its first four years of operation. The company’s reported operating revenue was approximately Rs 985 crore in FY24, an increase from Rs 813 crore in the previous year. Co-founder Chaitanya Ramalingegowda credited the revenue growth to the company’s strengthened omnichannel presence, with mature stores, new outlets opening, and the advantages of an automated mattress factory.
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