India, Feb. 21 -- Professional networking unicorn Apna trimmed its consolidated net loss by over 57% to INR 51.3 Cr in the financial year 2023-24 (FY24) from INR 120.3 Cr in the previous fiscal year due to improvement in its EBITDA margin.

The Tiger Global-backed startup's EBITDA loss declined to INR 35.2 Cr during the year under review from INR 105.1 Cr in FY23. As a result, its EBITDA margin improved by 30 percentage points to -28% in FY24 from -58% in the previous fiscal year.

However, the improvement in the Bengaluru-headquartered startup's bottom line came at the cost of its top line. Its operating revenue tumbled over 29% to INR 127.6 Cr during the reported period from INR 180.3 Cr in FY23, largely due to a sharp decline in income...