Noida-based online astrology company AstroTalk has more than doubled its operating revenue to Rs 651 crore ($80 million) for FY 2024. These impressive figures highlight the growing popularity of online astrology and the company’s potential to grow domestically and internationally.
image Source: AstroTalk
Vision of AstroTalk
AstroTalk was founded in 2015 by Anmol Jain and Punit Gupta. AstroTalk has become one of the most prominent online astrology platforms on the internet. The company relies heavily on astrology but emphasizes 21st century technology, which works well for the firm in terms of marketing. In terms of revenue, AstroTalk's performance reflects a successful business model and expansion plans. The company achieved a net profit level of Rs 94 crore in FY24, more than ten times that of the previous year, proving the firm's operational efficiency and market dominance.
revenue growth
AstroTalk is experiencing high revenues and this is due to the company's aggressive growth strategy. The company has expanded its operations in both domestic and international regions to accommodate a larger number of customers interested in astrology. International sales contribute to about 20% of its total sales, reflecting its increased presence in the global arena.
It conducts around 4.5 million paid sessions every month with clients who consult astrologers, where marriage counseling is the most common, followed by employment counseling. The number of free sessions offered by AstroTalk is around 6 million, which proves the popularity of this platform.
Technology-led development
AstroTalk focuses on the use of technology in improving user experience and optimizing processes. The company uses a revenue-sharing business model with over 10,000 active astrologers in its network. This model not only guarantees a steady income for astrologers but also enables the growth of AstroTalk. Pricing varies from INR 10 to INR 200 per minute; this ensures that anyone can access its services. The company has been able to grow aggressively by using its best-in-class technologies and products, while at the same time constantly managing its fixed costs leading to better margins.
Focus on operational efficiency
Marketing spends have also increased from Rs 74 crore in FY23 to Rs 157 crore in FY24. Overhead expenses related to employees have also increased due to increased hiring for expansion. The company's ability to easily scale operations without worrying much about overhead or fixed costs has proved to be a boon for AstroTalk. The strategy of optimizing operational effectiveness in the company across marketing, product and service delivery value chains has yielded benefits in terms of margins and profitability.
conclusion
AstroTalk has posted impressive revenue growth in FY24, which can tell a lot about the company's business model, growth strategies and the immense potential of such a business in terms of leveraging technology. The company has doubled its revenue to Rs 651 crore since its inception, which speaks a lot about the new fashion for online astrology services and AstroTalk's favorable positioning.
