Women’s lifestyle brand IncNut Digital’s revenue dwindled 93% to Rs 12.7 crore in last fiscal year. Of the total revenue generated in FY23, the company saw over Rs 12 crore coming in from operations while over Rs 9 lakhs came in from other revenue streams.
Previously in FY22, the Hyderabad-based company generated over Rs 204 crore in scale with over Rs 200 crore being contributed by operations.
Founded by Chaitanya Chakravarthy, Veerendra Shivhare, and Sangram Simha Datla, IncNut Digital is a women’s lifestyle brand focused on beauty and wellness, parenting, food, weddings, and interior décor. They address everyday issues of new age women who are always on-the-go using media, commerce and technology. They provide content specifically designed by experienced bloggers and industry experts.
Personalized beauty care and e-commerce startup owns and operates two women-centric digital media platforms: Stylecraze.com and Momjunction.com. It’s beauty centric brands Vedix and SkinKraft provide customized skin-care regime for Indian women.
Established in 2011, IncNut Digital has raised over Rs 30 crore over 2 fundraises. Its latest Series A round raked in Rs 30.1 crore led by RPSG Ventures.
The company’s overall expenditure shrunk 95% to Rs 13.3 crore in FY23 as compared to the preceding fiscal’s Rs 250 crore. While advertisements and promotional charges contributed over Rs 3 crore, over Rs 57 lakhs was spent employee benefits.
Its losses slowed 98% to Rs 59 lakhs the previous fiscal as compared to FY22’s Rs 44.5 crore. Along with its losses, the company also saw an improvement in its EBITDA margin and ROCE to -1.04% and -0.22% respectively.