Sridhar Vembu-led SaaS unicorn: Zoho breaks INR 5,000 Cr Sales Mark, Profit climbs to INR 1,917 Cr in FY21
- ByStartupStory | March 19, 2022
Zoho, Sridhar Vembu-led SaaS unicorn crossed profit after tax of INR 1,900 Cr mark in the financial year ending on March 31, 2021. A total profit after tax of INR 1,917.7 Cr in FY21, a 139.4% rise from INR 800.8 Cr it recorded in FY20 was posted by the Chennai-based startup.
One of few Indian startups, Zoho that became a unicorn being a bootstrapped company, saw its revenue from sales climb to worth INR 5,229.6 Cr. This was a 22% rise from about INR 4,274.7 Cr which it achieved through sales in FY20.
From its other income Zoho recorded INR 212.7 Cr, a jump from INR 4,385.9 Cr it saw in FY20 thus taking the total revenue tally to INR 5,442.4 Cr.
The startup has further in the FY21 managed to narrow its expenses. During April 1, 2020 to March 31, 2021 i.e.FY21, a slight dip from INR 3,369.7 Cr it burnt in FY20, Zoho spent INR 3,024.1 Cr.
Employee benefit expenses stood the highest with INR 1,725 Cr, of the FY21 expense. Employee benefit expense ideally comprises salaries, ESOP expense, gratuity, employee welfare, among others.
The employee benefit expense stood at INR 1,088.93 Cr in FY20. In FY21, Zoho’s depreciation, depletion and amortisation expense was at INR 347.9 Cr, a drop in FY20 from INR 451.9 Cr.
Zoho was initially known as AdventNet INC and was founded in 1996 by Vembu and Tony Thomas. The SaaS giant has over 60 Mn customers and over 9K employees globally. It has more than 50 integrated online applications that support multiple business operations spanning sales and marketing, app creator, finance, email and collaboration and analytics among others, with offices in the US, Singapore, UAE, Japan, among other nations.
Some globally known brands such as Levi’s, Amazon, Philips, Whirlpool, Ola, Xiaomi, among others are counted as its clients by Zoho.
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