Excitel Broadband narrows losses, revenue up 24% in FY24

Internet service provider Excitel Broadband on Thursday said it has narrowed its losses to Rs 120 crore in FY24.

The company had posted a loss of Rs 155 crore in FY23, according to a company statement.

Its revenue came in at Rs 486.84 crore in FY24, 24.5 per cent higher from Rs 391.17 crore in the previous fiscal.

Excitel has recently joined hands with GX Group to deploy Wifi 6-enabled broadband modems, the statement said.

“Together with GX Group, we are thrilled to offer high-speed, eco-friendly, and cost-effective connectivity to millions of households, including those in rural areas. This partnership brings us closer to making world-class internet accessible to every Indian,” Excitel CEO Vivek Raina said. Rediff Money