Wakefit reports Rs 23 crore net profit in Q1, revenue up 17%
Founded in 2016, Wakefit initially focused on sleep-related products such as mattresses, pillows, and bed frames before expanding to a broader home portfolio including sofas, dining sets, wardrobes, study tables, and bookshelves.
Wakefit, a mattress and furniture brand, reported a net profit of Rs 23.3 crore for the April-June quarter of FY27, marking a 19% increase year-on-year. The company's operating revenue reached Rs 405 crore, up 16.6% from Rs 347 crore a year earlier, with mattresses being the primary revenue generator. CEO Ankit Garg highlighted the strong momentum in the mattress business, which grew by 27.3% YoY.
The gross margins on profit stood at 57.1%, an increase from 55.8% in the previous year, attributed to price hikes to counter rising Polyol and TDI prices. Wakefit, founded in 2016, has been diversifying its product range to include sofas, dining sets, wardrobes, study tables, and bookshelves. The company added 27 new stores this quarter, bringing its total active stores count to 165, with plans to add around 80 COCO stores during FY27.
Expenses grew by 14.4% to Rs 384.2 crore, primarily due to increased material consumption and employee benefits. Marketing investments remained steady at 7.6% of operating revenue. Share prices closed at Rs 127.9 on the National Stock Exchange, down by 2.25% on Thursday.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
