The fiscal year ended March 2025 marked a major inflection point for Exotel, as the cloud communication platform crossed the ₹500 crore revenue milestone and returned to profitability after several years, driven by steady operating growth and tighter cost control.
Revenue crosses ₹500 crore milestone
Exotel’s operating revenue grew 10% year-on-year to ₹490.5 crore in FY25 from ₹444.5 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC).
Including other income of ₹16.5 crore, the company’s total income rose to ₹507 crore in FY25, up from ₹460 crore a year earlier.
The bulk of revenue continued to come from domestic services, which increased 9.5% to ₹416 crore during the year. Export services revenue grew faster, rising 16% year-on-year to ₹74 crore, reflecting improving traction in international markets.
Cost discipline drives return to profitability
On the expense front, Exotel managed to rein in overall costs despite scaling operations. Telephone and postage expenses remained the largest cost component, accounting for 44% of total expenditure. This cost rose 9% to ₹212 crore in FY25.
Employee benefit expenses declined sharply by 21% to ₹147 crore, emerging as a key lever in improving profitability. Advertising and legal expenses stood at ₹12.5 crore and ₹10 crore respectively, while other overheads accounted for ₹77.5 crore.
Overall, total expenses declined 4% to ₹481 crore in FY25 from ₹499 crore in FY24.
Profitability metrics improve
Supported by revenue growth and moderated costs, Exotel reported a net profit of ₹20 crore in FY25, compared to a loss of ₹37 crore in FY24.
Its ROCE improved to 2.46%, while EBITDA margin expanded to 6.83%. On a unit economics basis, the company spent ₹0.98 to earn a rupee of revenue, compared to ₹1.12 in the previous fiscal year.
As of March 2025, Exotel reported cash and bank balances of ₹131 crore, with current assets standing at ₹290 crore.
Funding and leadership context
According to startup data intelligence source, Exotel has raised around $100 million in funding to date. Its key investors include A91 Partners, Blume Ventures, and Sistema Asia, with A91 Partners holding the largest external stake.
However, the profitability milestone comes amid notable leadership churn. Since late 2024, several senior executives have exited the company, including co-founder and COO Ishwar Sridharan, even as Exotel focuses on strengthening its core cloud communication business.
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