X India profits nosedive 53% in FY25 despite steady revenue

Business Dec 19, 2025

Elon Musk's X Communications India (XCIPL) just reported a big profit drop—down 53% this year, landing at ₹1.5 crore compared to last year's ₹3.2 crore.
Interestingly, their revenue barely changed, holding steady at about ₹20.5 crore.

What's behind the numbers?

The main culprit: employee costs shot up from ₹6.2 crore to ₹10.2 crore, which pushed total expenses higher even as other costs like depreciation actually fell.
Plus, XCIPL's assets shrank a lot—mostly because their cash reserves dropped sharply from ₹20 crore to just ₹30 lakh.

Still on solid ground

Despite all that, XCIPL isn't carrying any debt and has slightly grown its reserves (now at around ₹62.6 crore).
So while margins are tight and the balance sheet is leaner, they're still keeping things financially healthy overall.