CureFit Suffers 888 Crore Loss in Financial Year 2024 [Video]

The recent financial disclosure from CureFit, a leading fitness startup, has raised eyebrows in the business community. The company’s consolidated loss for the fiscal year 2024 has seen a significant surge of 42%, amounting to Rs 888.5 crore, a substantial increase from Rs 625.5 crore in the previous fiscal year. This increase in losses is primarily attributed to the company’s high cash burn rate.

The company’s EBITDA loss, a critical measure of its operational performance, has also seen a sharp rise. It has surged by a staggering 123.4% to Rs 587.97 crore in FY24, up from Rs 263.2 crore in FY23. This indicates a significant increase in the company’s operating expenses and a decrease in its operational efficiency.

One of the major contributors to the company’s increased losses is its advertising and promotional expenditure. CureFit’s spending on advertising and promotion has seen a year-on-year increase of 40.67%, rising to Rs …