GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

Info Edge-backed business-to-business e-commerce startup GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25.

The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows.

GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24.

The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, Employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24.

While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25.

In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year.

On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances.

According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.