Spotify India reports Rs 74.6 crore FY25 profit as AdEx falls 37% to Rs 243.23 crore

Spotify India LLP reported a return to profitability in the financial year ended March 31, 2025, after posting losses in the previous year, supported by higher subscription and advertising revenues and lower marketing spending.

Revenue from operations rose 59.8 percent year-on-year to Rs 513.77 crore in FY25, compared with Rs 321.39 crore in FY24. Total income increased 62.9 percent to Rs 527.34 crore from Rs 323.77 crore a year earlier.

Subscription income remained the company’s largest revenue source, rising 88.8 percent to Rs 316.83 crore from Rs 167.80 crore in FY24. Advertising revenue grew 38 percent year-on-year to Rs 186.73 crore.

On the expense side, employee benefit costs increased 17.7 percent to Rs 100.36 crore from Rs 85.28 crore in the previous fiscal. Total other expenses declined 15.1 percent year-on-year to Rs 340.71 crore.

Advertising and marketing expenditure fell 37.1 percent to Rs 243.23 crore in FY25 from Rs 386.81 crore in FY24, contributing to improved margins.

As a result, Spotify India reported a profit before tax of Rs 76.76 crore in FY25, compared with a loss of Rs 143.36 crore in the previous year. Net profit after tax stood at Rs 74.62 crore, reversing a net loss of Rs 143.36 crore in FY24.