IPO-Bound Kuku FM’s FY25 Revenue Jumps by Almost 3X to ₹242 Crore, Net Loss Widens to ₹153 Crore

Audio and video content platform Kuku FM recorded a 175% rise in its operating revenue to ₹242 crore in FY25, up from ₹87.9 crore in FY24, as per filings with the Registrar of Companies. 

However, the company’s net loss grew by 59% to ₹153 crore during the same period due to increased marketing and operational expenses. 

Revenue Growth and Rising Expenses Highlight FY25 Financials 

Kuku FM’s revenue growth in FY25 touched ₹241.5 crore, marking a notable jump from ₹87.9 crore in FY24. Despite this growth, the content platform’s net loss expanded to ₹152.6 crore in FY25 from ₹95.7 crore in the preceding year.  

This loss is largely attributed to a surge in total expenses, which more than doubled to ₹411 crore from ₹199.8 crore a year earlier. 

Marketing Spend Drives Operating Costs 

The company’s advertising and marketing expenses formed the bulk of its cost base in FY25. Spends in this category rose nearly 3 times to ₹284.8 crore, from ₹101.8 crore in FY24.  

This increase reflects Kuku FM's push to expand its subscriber base and visibility. Employee benefits and other operational spends also contributed to the overall rise in expenses for the year. 

Funding and Valuation in FY25 

In November 2025, Kuku FM completed an $85 million funding round led by Granite Asia. Out of the total capital raised, $50 million came from primary investments.  

Existing backers such as Krafton, IFC, Bitkraft, Tribe Capital India, Paramark, and Vertex Growth Fund participated in the round. This transaction valued the company at $550 million post-money. 

Read More: IPO-Bound Rentomojo’s FY25 Profits Surge 2x as Revenue Rises 37%! 

Preparing for Public Listing 

Kuku FM has reportedly engaged merchant bankers Kotak Mahindra Capital, Axis Bank, and Morgan Stanley to facilitate its proposed ₹200 crore initial public offering.  

The platform, which offers audio content and microdramas via Kuku TV, claims to have over 1 crore paying subscribers. 

Conclusion 

Kuku FM posted a substantial increase in revenue for FY25, but the jump in advertising and marketing spending contributed to a widening loss. The company's latest funding and reported IPO preparations underline its attempt to scale operations in a competitive space. 

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