India, March 15 -- Luxury house of brands startup Purple Style Labs (PSL) saw its operation revenue cross the INR 500 Cr mark in the financial year 2023-24 (FY24). Its top line surged 36.4% to INR 507.8 Cr from INR 372.4 Cr in FY23.

While it earned INR 492 Cr from the sale of products, the rest came from the sale of services. The startup generated INR 319.5 Cr from sales in India and INR 172.5 Cr from overseas sales.

Despite the rise in revenue, the fashion brand saw its net loss rise. It posted a loss of INR 45.7 Cr in FY24, up 19.9% from INR 38.1 Cr in the previous year. However, it was able to reduce its cash burn.

The startup's EBITDA loss for the year under review stood at INR 17.7 Cr as against an EBITDA loss of INR 23.8 Cr in th...