Temasek-backed Mohalla Tech, which owns vernacular social media platforms ShareChat and Moj, has managed to substantially reduce its operating losses over the past financial year, but a narrow focus on profitability stalled its revenue growth. The management now says it is “back in growth mode” for the current fiscal and expects to clock nearly 30% topline growth for FY26.
Adjusted EBITDA losses were down by 72% to Rs 219 crore in the financial year ended March 2025, compared to a loss of Rs 793 crore in the previous year. Meanwhile, revenue from operations was at Rs 723 crore, nearly the same as Rs 718 crore it generated in FY24. Adjusted EBITDA excludes interest on debentures, ESOP-related costs, unrealised forex losses, depreciation, and provision on aged GST assets.
Including these cost items, the company recorded a loss before tax of Rs 1,105 crore in FY25, down nearly 42% from Rs 1,898 crore a year ago.
Sharechat has been on a path to improve its profitability since FY23, as a tighter funding environment prompted many startups to choose measured, sustainable growth over cash burn-led high growth. Since FY23, its adjusted EBITDA losses are down by 90% and the company expects to end FY26 with a narrower adjusted EBITDA loss of around Rs 20 crore.
ShareChat’s main app turned profitable in February this year and is now generating cash, but Moj continues to post losses due to the high costs of video streaming. The company hopes subscription income and fresh ad spending around microdramas, its new growth vertical, can strengthen its financials.
Microdramas, which are typically one-to-two minutes long, serialised fiction, are available on an ad-supported basis on Moj and for a subscription fee on its standalone microdrama app QuickTV, launched in May. The management expects rising consumer engagement around microdramas to aid ad revenue this year, though it continues to face pressure as the ban on real-money gaming has wiped out a major advertising cohort for the platform.
In FY25, revenue from advertisements dipped 8% year-on-year to Rs 290 crore. Beyond advertising, ShareChat earns through virtual gifting, allowing users to buy digital tokens for creators. Revenue from live streaming rose 7.7% to Rs 434 crore. Going ahead, the company expects subscription earnings from QuickTV to add a fresh revenue segment. It expects the subscription business to be profitable by mid-FY27.
“With ad-supported micro drama, the company is eyeing to go after the newer pool of adex that was so far concentrated among OTT players,” the company said in a statement. Across both Moj and QuickTV, 35 million users are consuming microdramas monthly, with 200 million episodes being consumed daily, CFO Manohar Charan said on a call with media.