Traya, a direct-to-consumer (D2C) health and wellness business, had nearly threefold year-on-year growth, with revenue exceeding Rs 230 crore in the preceding fiscal year ended March 2024. Furthermore, at this rate, the Mumbai-based company became profitable in the same period.

Traya's revenue from operations increased 3.8 times to Rs 236 crore in FY24 from Rs 61 crore in FY23, according to its annual financial filings obtained from the Registrar of Companies. Traya, founded in 2019, focuses on tackling hair loss at its root by pinpointing the underlying causes. It offers tailored hair care treatments and advice from a team of qualified hair coaches and physicians.

Traya's overall operating revenue increased to Rs 234.5 crore in FY24 from Rs 61 crore in FY23, with product sales accounting for 99.36% of that total. The remaining income comes from courier services and doctor consultation fees.

Moving on to expenses, marketing and sales accounted for 43% of total expenditures. This cost increased double to Rs 98 crore in FY24, from Rs 51 crore in FY23. To scale, the cost of material purchase increased 3.6 times to Rs 54 crore in FY24. Traya's employee benefits also increased fourfold to Rs 36 crore in FY23. Other overheads, such as freight, legal, and travel, boosted the whole cost by 154% to Rs 229 crore in FY23 from Rs 90 crore in FY23.

Traya's 3.8X growth in scale enabled them to make a significant profit of Rs 9 crore in FY24, compared to a loss of Rs 28 crore in FY23. The ROCE and EBITDA margins increased to 8.7% and 5.04%, respectively. In FY24, the company spent Rs 0.97 for every rupee earned. Traya's total current assets were recorded at Rs 159 crore, with a cash balance of Rs 85 crore at the end of the previous fiscal year.

According to startup data analytics platform TheKredible, Traya has funded around Rs 96 crore too far, including Rs 75 crore from Xponentia Capital in April of this year. Notable investors include Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital.