Deloitte Confirms True and Fair View of VerSe Innovation's FY24 Financials

Bengaluru: VerSe Innovation Pvt Ltd, the parent company of leading content discovery platform Dailyhunt and short-video app Josh, announced that its long-standing auditor, Deloitte, has issued an unqualified (clean) audit opinion on the company’s consolidated financial statements for the fiscal year 2024 (FY24). This clean opinion affirms that VerSe’s FY24 financials provide a true and fair view of the company’s financial position and overall performance.

“Deloitte, our long-term auditor, has issued a clean audit opinion on our FY24 Consolidated Financial Statements, confirming they present a true and fair view of our financials,” said a VerSe Innovation spokesperson. “While certain internal control weaknesses were identified during the audit, Deloitte has clearly stated that these findings do not impact their overall opinion on our consolidated statements.”

Deloitte’s audit report further clarified: “We have considered the material weaknesses identified while determining the nature, timing, and extent of our audit procedures for the year ended March 31, 2024. These weaknesses do not affect our audit opinion on the company’s Consolidated Financial Statements.” The report also includes an Emphasis of Matter regarding retrospective adjustments to the comparative figures for FY23.

Strong Momentum into FY25: Innovation at Scale

Following a year of operational discipline and platform growth in FY24, VerSe Innovation enters FY25 with strong momentum. The company projects over 75% revenue growth in FY25—well above the industry average of 10–15% for India’s digital advertising sector.

Looking Ahead

VerSe Innovation remains focused on achieving break-even in the second half of FY25. This goal is supported by a strategic combination of product innovation, AI-driven automation, and continued revenue expansion across its platforms.