With Rs 4,964 Cr revenue, Moglix reports flat growth in FY24

With Rs 4,964 Cr revenue, Moglix reports flat growth in FY24

After experiencing 82.6% growth in FY23, the B2B e-commerce platform Moglix registered a modest 5.5% increase in revenue during the fiscal year ending March 2024. Despite this slower growth, the company managed to reduce its losses by 16% during the same period. Moglix's revenue from operations increased to Rs 4,964 crore ($591 million) in FY24, up from Rs 4,704 crore ($560 million) in FY23, according to its consolidated financial statements acc…

B2B platform Moglix reported a revenue of Rs 4,964 crore with a 16 percent decrease in its losses in FY24

Moglix is an online B2B marketplace platform that announced a 5.5 percent increase in operational revenue to Rs 4,964.4 crore in FY24. The startup provides a digital platform offering industrial goods and products like hand tools, foot protection, power tools, spanners, and more. The application enables customers to buy industrial goods. The sales of traded goods and services are the company’s major source of revenue. The startup also provides a…