Wonderchef, a direct-to-consumer kitchenware and home appliance company, reported a net profit of 1.6 crore rupee (US$184,025) for FY24, a significant improvement from a loss of 51.8 crore rupee (US$5.96 million) in FY23.

Revenue from operations increased by nearly 20% to 377.7 crore rupee (US$43.44 million), compared to 315.6 crore rupee (US$36.3 million) in the previous year.

Total revenue, including 3.2 crore rupee (US$368,051)in other income, rose by 18% to 380.9 crore rupee (US$43.81 million).

Founded in 2009 by chef Sanjeev Kapoor and Ravi Saxena, Wonderchef offers a variety of kitchen products and distributes them online and through over 20,000 retail outlets globally.

Despite a 16.6% increase in expenses to 374.6 crore rupee (US$43.08 million), the company’s expenditure grew at a slower rate than its revenue.

Co-founder Ravi Saxena previously said a goal of 800 crore rupee (US$92.01 million) in revenue for FY25, though the company reported sales of around 700 crore rupee (US$4.34 million) for FY24.