ShareChat reports 67% reduction in adjusted EBITDA losses, from Rs 2,400 crore to Rs 793 crore in FY24

ShareChat, a social media platform, reported a 33% year-on-year increase in revenue for FY24, reaching Rs 718 crore, compared to Rs 540 crore in FY23. The company also significantly reduced its adjusted EBITDA losses by 67%, from Rs 2,400 crore in FY23 to Rs 793 crore in FY24.

Advertising revenue saw a 23% year-on-year growth, totalling Rs 315 crore, attributed to a diversified client base across multiple sectors, including FMCG and mid-market advertisers.