Moglix's Fiscal Year 25 Revenue Approaches $700 Million, Loss Reduction Reaches Half
In the financial year ended March 2025, the ecommerce startup Moglix, founded in 2015, reported impressive growth and strategic changes. Based in Noida now, the company's headquarter city was previously Bengaluru.
Moglix's operating revenue for FY25 reached $681.5 Mn, marking a 15% increase from the previous year. This growth was accompanied by a rise in the cost of sales, which stood at $644 Mn, an increase of 14.7% from the previous year. However, the startup managed to reduce advertising expenses by 12%, bringing them down to $2.9 Mn.
Including other income, Moglix's total revenue for FY25 rose to $692.8 Mn, up from $601 Mn in FY24. The company's expenditure also rose, but at a slower pace than its revenue, with total expenses standing at $704 Mn in FY25.
Employee benefit expenses rose by 5.8% to $27.3 Mn in FY25. Moglix, which sells a wide range of industrial tools and equipment to clients in various industries, is backed by a total funding of over $481.5 Mn from investors like Tiger Global, Accel, Alpha Wave, among others.
Notably, Rahul Garg has joined the list of Moglix's founders, with the team now consisting of several visionaries. In a significant development, Moglix was acquired by Reliance Industries in FY26.
The majority of Moglix's revenue is earned from India, with the UAE accounting for 3% of the startup's revenue in FY25. Despite the changes and growth, the founding year of Moglix remains the same: 2015.
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