Airbnb India faces a marginal decline in its revenue, profits and expenses in FY19
By MYBRANDBOOK
Airbnb’s India arm is experiencing a drop in revenue, profits and expenses during FY19 as compared to last year. This indicates a decline in overall activity. According to its regulatory filings, Airbnb India witnessed an almost 7% drop in its revenue from Rs 34.76 crore in FY18 to Rs 32.36 crore during FY19.
Meanwhile, expenses also dropped at the same rate, amounting to Rs 29.4 crore in FY19.
While the company continued to make money, clocking a profit of Rs 1.75 crore, it is 15.45% less than the profit of Rs 2.07 crore Airbnb clocked the previous year. Marketing expenses also show a sharp decline of 21.08% to Rs 1.46 crore from Rs 1.85 crore last year. But even as overall expenses dropped, the employee benefit expenses increased by 37.41% to Rs 7.97 crore from Rs 5.80 crore in FY18.
Even though the financials are unclear on the firm’s plans for India, it considers the country to be one of its top three emerging markets.
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