Bengaluru-based cloud telephony company Exotel swung to a consolidated net profit of Rs 20 crore in the financial year ended March 2025 (FY25), from a loss of Rs 37 crore reported a year earlier. The turnaround was driven by sharp uptick in revenue from the Middle East, an improvement in EBITDA margin, and increased AI adoption across its customer experience (CX) ecosystem.
The company’s revenue from operations increased 10% to Rs 490.5 crore in FY25 from Rs 444.5 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) show.
Including other income of Rs 16.6 crore, Exotel’s total revenue stood at Rs 507.1 crore during FY25, up 10.2% from Rs 460 crore reported in the previous year.
Notably, Exotel posted an EBITDA profit of Rs 50.2 crore during the year under review as against an EBITDA loss of Rs 15.6 crore reported in FY24. As a result, EBITDA margin improved to 10.2% in FY25, compared to -3.5% a year earlier.
Exotel’s Customer Experience (CX) Ecosystem
Founded in 2011 by Shivakumar Ganesan, Ishwar Sridharan, and Siddharth Ramesh, Exotel offers cloud-calling services to businesses across India, allowing them to make calls to customers over the internet instead of traditional telephone lines. It has contact centres across Delhi, Mumbai, Hyderabad, and Bengaluru, among other cities.
Over the years, it has evolved into a full-stack customer engagement platform. The company offers its clients AI-enabled voice and chatbots, software development kits, mobile apps, browser extensions, and APIs.
For instance, ride-hailing platform Ola uses Exotel’s platform to send text messages to its customers. Food tech company Swiggy relies on the startup to mask phone numbers when a delivery partner calls a customer. Relationship managers at HDFC Bank use Exotel to engage with savings account customers.
Exotel directly competes with Gupshup-owned Knowlarity, MyOperator, Ozonotel, Tata Communications, and a few others in the cloud telephony market.
Middle East Now Makes Over One-Third of Exotel’s Revenue
Exotel generates revenue primarily from internet-enabled voice and messaging services. It also derives revenue from software licensing and conversational AI solutions. Businesses can use Exotel’s platform to integrate chatbot services into their websites, apps, and WhatsApp channels.
Exotel did not provide a segment-wise revenue breakup. However, documents reviewed by MediaNama showed that the company’s UAE-based subsidiary contributed Rs 164.3 crore to the top line in FY25, a five-fold increase over Rs 35.4 crore reported in the previous year. Outside India, the company also has a presence in Saudi Arabia, Indonesia, and the US.
Exotel onboarded more than 1,300 customers last year, including ITC Salaam in Saudi Arabia, Tata Consultancy Services, Bajaj Allianz, City Mall, Krazybee, and Shadowfax.
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