Wearables maker Noise sees FY25 revenues dip 24% to Rs 1,048 crore

Wearables maker Noise posted a 24% year-on-year (YoY) decline in its operating revenue, which stood at Rs 1,048 crore in FY25 from Rs 1,383 crore in the previous fiscal year.

However, the Gurugram-based company reported a profit of Rs 3 crore compared to a net loss of Rs 22 crore in FY24 due to a deferred tax adjustment.

The startup managed to trim its total expenses in FY25, bringing it down to Rs 1,067 crore from Rs 1,416 crore a year earlier, per information sourced from the data intelligence platform Tofler. A significant amount of the expenditure was attributed to the cost of materials consumed, amounting to Rs 99 crore, purchases of stock-in-trade worth Rs 253 crore, and other expenses of Rs 238 crore.


It also brought down its advertising and promotional expenses to Rs 180 crore from Rs 286 crore in FY24.

The homegrown wearables brand had raised $20 million from US-based audio equipment major Bose Corporation last April in its second round of funding since inception. Bose had previously invested $10 million in 2023, valuing the Gurugram-based company at around $420 million.

Last year, Noise expanded outside India, starting with the Middle East market in partnership with the Dubai-based distribution company Lime Concepts.

The brand competes with the likes of Boat, Boult and Fire-Boltt. Warburg Pincus-backed Boat had posted a net profit of more than Rs 60 crore in fiscal 2025 compared with a net loss of Rs 80 crore the prior year, driven by product innovation and cost control. However, its consolidated revenue declined narrowly to Rs 3,098 crore from Rs 3,122 crore in FY24.

Boat has reportedly deferred its plan of going public. The company was seeking to raise Rs 1,500 crore, comprising Rs 500 crore of fresh shares and an offer for sale worth Rs 1,000 crore by existing investors, according to its updated prospectus.