OfBusiness FY24 operating revenue up 26% on year to Rs 19,296 crore

Business-to-business (B2B) ecommerce platform OfBusiness posted a 25.7% rise in operating revenue to Rs 19,296.27 crore for the financial year ended March 31, 2024. The company’s consolidated net profit also increased by 30% to Rs 602.97 crore from Rs 463.25 crore a year ago.

Total expenses grew to Rs 18,695.75 crore in FY24 from Rs 15,037.46 crore a year ago. A significant amount of the expenditure was attributed to the purchase of stock-in-trade amounting to Rs 13,339.64 crore. The cost of materials consumed increased to Rs 3,595.39 crore from Rs 2,719.67 crore in FY23.