boAt made a profit of 68.7 crore in fiscal year 2022
BoAt, the fastest-growing audio and wearables brand in India, made a profit of Rs 68.7 cores in the fiscal year 2022.
Boat success story
Aman Gupta and Sameer Mehta, the founders of boAt, founded the company in 2014 with a vision to bring the most stylish, durable and affordable audio products to the most discerning people in India.
The company has identified the mid-range audio equipment market, and with Aman Gupta’s marketing strategy, the company has grown steadily throughout the years.
Every year, boAt advertises its products to many Bollywood stars and ticketing celebrities and thus can influence young Indians to prefer their products over other brands.
Currently, boAt sells wearable smartwatches and audio gear including headphones and speakers.
Income generated by the company
boAt has just announced the revenue generated in fiscal year 22 and according to the company statement, boAt was able to generate total revenue of Rs 2,873 cores. Of the total revenue generated, 79.2% came only from the sale of audio equipment.
As a result, the company made a profit of around 68.7 crores in Indian rupees after meeting all expenses.
In fiscal year 21, the company was only able to generate total revenue of 1,314 cores and in fiscal year 22, the company managed to increase total revenue to 1,559 cores.
Through the sale of audio equipment alone, the company generated Rs 2,276 crore and through the sale of wearable smartwatches the company earned a revenue of approximately 515.5 crores. Through other operating income, the company also earned 81.5 cores. The company also mentioned that this year, boAt only spent about 99 cores on marketing. In the truly wireless stereo segment, the company also accounts for 46% of the total market.
Given the current position of boAt in the mobile and audio equipment market, the company will certainly continue to grow and will certainly continue to produce devices to meet the needs of its users.
