FNP reduces loss to Rs 24.2 crore in FY24

Online gifting business FNP [Ferns N Petals] reduced its loss from Rs 109.5 crore in the 2023 financial year to Rs 24.26 crore in the 2024 fiscal year as its income from operations shot up to Rs 705.4 crore during the year.

FNP’s income from operations had totalled Rs 607.3 crore in the 2023 financial year, Indo Asian News Service reported, citing data filed at the Registrar of Companies. The business’ main revenue source is its gifting solutions, flowers, and cakes, making up 91% of its revenue. This segment increased by 15% year on year to total Rs 640.75 crore in the 2024 financial year compared to Rs 556.18 crore in the 2023 financial year.
 
FNP retails its products online through its direct to customer e-commerce store as well as on multi-brand e-commerce platforms. Offline, the business retails through its network of brick-and-mortar outlets which are a mix of company and franchise owned.
 
In addition to its retail business, a portion of FNP’s income comes from delivery charges and other sources. The 2024 financial year saw FNP’s expenses rise by approximately 2% to reach Rs 736.7 crore compared to Rs 723 crore in the previous fiscal year, ET Retail reported.