Online ticketing platform BookMyShow’s net profit grew 27.6% to Rs 108.63 crore in the financial year 2023-24 from Rs 85.11 crore in the last fiscal. Operating revenue surged 43.2% to Rs 1,396.86 crore during the year under review from Rs 975.51 crore in FY23, according to its financial statement.
The firm’s revenue sources include online ticket bookings, turnkey ticketing solutions for concerts and events, software sales, advertisement and subscription contracts. It also earns through food and beverage sales, maintenance contracts, and on-ground services.
In FY24, it earned more than half of its revenue (57.4%) from the online ticketing segment, which includes ticket bookings and turnkey solutions, and around 32% from live events. While the online ticketing segment grew 23.8% year-on-year to Rs 801.57 crore, the live events segment grew 91.5% to Rs 454.72 crore.
According to Entrackr, the company made profits of Rs 258.65 crore during FY24 through online ticketing and Rs 84.13 crore through advertisement, marketing, sale of food and beverages, gift vouchers, and software, among others. Notably, the live events vertical reported a loss of Rs 137.99 crore.
The firm’s total expenses grew 40.28% to Rs 1,319.8 crore in FY24 from Rs 940.8 crore during the previous fiscal year. Employee costs grew 24.06% to Rs 170.72 crore during the year from Rs 137.6 crore in FY23. Advertisement and promotional expenses increased 47.48% to Rs 78.9 crore from Rs 53.5 crore in FY23 and payment gateway charges stood at Rs 49.57 crore in FY24.
Founded in 1999 by Ashish Hemrajani, Parikshit Dhar and Rajesh Balpande, BookMyShow is an online ticketing platform for movies and events and operates with 17 subsidiaries and two joint ventures. The firm last raised $100 million in a Series D funding round in 2018, led by TPG Growth, at a pre-money valuation of $750 million. According to reports, earlier this year, KKR was in advanced talks to invest between $250 million to $300 million in the firm for a minority stake at a valuation of about $885 million.