Audio streaming app Gaana posted a flat revenue from operations at Rs 118.53 crore as against Rs 117.88 crore in the previous fiscal year (FY21), according to regulatory filings.
Its losses contracted to Rs 316.53 crore when compared with the previous year at Rs 335.64 crore.
Splitting its revenue from operations, the Times-internet backed company’s biggest source of revenue, advertising, grew by 15.7% to Rs 78.16 crore while its subscriptions fell by 7.8% to Rs 24.02 crore. As for the service platform segment, it fell by 39.9% to Rs 14.58 crore.
Breakdown of the numbers
It posted a total expenses cost of Rs 442.33 crore up by 4.9% from Rs 465.15 crore in the previous year. Content, emerged as the largest expense for Gaana. It dropled from Rs 181.78 crore in FY22 from Rs 192.78 crore a year ago. Its advertising promotional expenses the next major expenditure was down by 24.5% to Rs 118.8 crore while the employee benefit expenses were up by 11.5% to Rs 57.14 crore.