ShareChat's ₹1,105 Cr FY25 Loss: Ad Revenue Stalls, Shifts to Subscriptions & Micro-Dramas

• ShareChat reported flat operating revenue of ₹723 crore in FY25, up marginally from ₹718 crore, indicating significant stress on its advertising-led business.
• Net losses narrowed by 40% to ₹1,105 crore in FY25, and adjusted EBITDA losses reduced by 72% to ₹219 crore, primarily due to aggressive cost controls and reduced employee expenses.
• The company's core business became cashflow positive, but advertising revenue remained under strain, partly due to the ban on real-money gaming (RMG) ads.
• ShareChat is pivoting its strategy from ad-heavy dependence to a mix of ads and subscriptions (expected FY27), and investing 70-75% in micro-dramas via its QuickTV app.
• Despite cost discipline, analysts question ShareChat's ability to monetize its large user base effectively amid competition and a sluggish ad market.

Why It Matters: ShareChat cuts losses via cost control but faces ad revenue stagnation, pivoting to subscriptions and micro-dramas.