Kuku FM’s FY25 revenue nearly triples to Rs 242 crore; net loss rises 59%

Audio and video content platform Kuku FM reported a sharp rise in revenues in FY25, even as losses widened amid higher ad spends, according to filings with the Registrar of Companies (RoC).

The IPO-bound company’s operating revenue rose 175% to Rs 241.5 crore in FY25 from Rs 87.9 crore in FY24, while its net loss increased 59% to Rs 152.6 crore from Rs 95.7 crore a year earlier.

Last month, the Krafton-backed firm closed an $85 million funding round led by Granite Asia, with participation from existing investors, including Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft. The round valued the company at $550 million post-money, sources said. Of the total capital raised, $50 million was primary, while the rest was through secondary transactions.


Kuku FM’s total expenses grew as spending on advertising and marketing skyrocketed during the year. Total expenditure more than doubled to Rs 411 crore in FY25 from Rs 199.8 crore in FY24. Advertising and marketing spends rose to Rs 284.8 crore, nearly three times the Rs 101.8 crore incurred in FY24, followed by employee benefit and other operating expenses.

Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena, the company has two main offerings: Kuku TV, for serialised microdramas, and Kuku FM, an audio platform. The company counts over 10 million paying subscribers on its platform.

Kuku FM is also preparing for a potential listing. On December 15, Bloomberg reported that the company had appointed Kotak Mahindra Capital, Axis Bank, and Morgan Stanley as merchant bankers for its $200-million public debut, at a time when new-age companies have been seeing good traction in the public markets, unlocking significant wealth for investors and promoters.