Coimbatore-headquartered Cosmic Insight reported a minimal 4% rise in its FY23 revenue to Rs 2.05 crore as compared to the Rs 1.97 crore recorded in FY22.
Spiritual tech startup Cosmic Insight was founded in 2016 by Niravta M and Archana Patchirajan. Carving out a niche in the industry, it provides a wide array of services aimed at helping users navigate life’s challenges with astrological guidance.
The app includes vedic rituals, personalized calculations, and detailed planetary events. Users can access horoscope services and moon sign calculators, along with unique features such as cosmic compatibility checks and Nakshatra remedies. Additionally, the app offers transit updates and spiritual guidance, ensuring that users receive timely and relevant insights into their personal and professional lives.
In terms of expenses, the firm saw a total of Rs 2.03 crore in the financial year ending March 2023. This was a 14% hike from its previous fiscal year. While employee benefit costs accounted for 75.995% of expenses, advertisement and promotional costs made up 4.569%. Travelling costs were relatively low at 1.713%.
Despite the increase in expenses, the company managed to achieve a profit of Rs 1.86 lakh in FY23, a 90% drop as compared to FY22’s Rs 19.65 lakh.
Staying in positives, both its EBITDA margin as well as ROCE witnessed a drop. The EBITDA margin for FY23 stood at 1.45% and the Return on Capital Employed stood at 31.77%.