Gramophone’s FY24 Revenue Slumps 69% To INR 98 Cr

Gramophone, a tech-driven agriculture startup, has faced a sharp decline in its revenue, which has slumped by 69% to INR 98 crore in FY24. This significant downturn has raised alarms among investors and stakeholders, as the company struggles with the challenges of scaling its business amid a tough economic environment. Despite earlier growth, the company has been facing difficulties in sustaining its revenue streams, likely due to market saturation, rising competition, and logistical challenges. The management is now focused on revising its strategies to regain momentum and meet its long-term financial goals while addressing the operational hurdles that led to the sharp revenue decline.