Boat Clocks Rs 3,400 Cr Revenue In FY23 As Smartphone Sales Grow Over 50%


Imagine Marketing, the parent company of boAt, generated revenue of Rs 3,400 crore in the financial year 2022-23, with a growth rate of 20 per cent. The company experienced some loss due to investments, but the exact amount was not disclosed.

In the previous year (FY22), the company reported a net profit of Rs 68.7 crore. boAt plans to submit its detailed financial statements for FY23 to the Ministry of Corporate Affairs (MCA) on Friday. The D2C electronics brand from New Delhi aims to achieve gross revenue of Rs 4,000 crore this year.

However, in June this year, boAt announced that their net sales reached around Rs 4,000 crore (approximately USD 500 million) for FY23. So far, boAt has raised a total funding of USD 177 million from various investors, including Qualcomm Ventures, Warburg Pincus, InnoVen Capital, Navi Technologies and Fireside Ventures.

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