India, Aug. 2 -- Bhubaneswar-based dairy tech startup Milk Mantra returned to profitability in the financial year 2023-24 (FY24) with a net profit of INR 9.8 Cr as against a net loss of INR 12.3 Cr in the previous fiscal, as it managed to control its expenses.

After eight consecutive years of profitability, the startup slipped into loss in FY23 on an operating revenue of INR 272.9 Cr, a growth of only 2% year-on-year (YoY).

It continued to face difficulties in growth in FY24 as well. Its revenue from operations rose a mere 1.3% YoY to INR 276.4 Cr.

Meanwhile, its net profit in FY24 also fell short of INR 13.6 Cr profit it posted in FY22.

Founded in 2009 by Srikumar Misra and Rashima Misra, Milk Mantra began its operations in 2012. The...