Zepto's revenue jumps 14x but losses triple, expenses up 6x in FY23

Updated : Oct 27, 2023 16:37
|
Editorji News Desk

Quick-commerce company Zepto has reported a significant widening of losses, totaling Rs 1,272 crore in FY 2022-23, compared to Rs 390.3 crore in the previous fiscal year.

However, the company's revenues from operations increased 14-fold to reach Rs 2,024 crore during the same period. Despite this, total expenses soared to Rs 3,350 crore, with a considerable portion spent on stock-in-trade and employee benefits.

Also read/watch - Flipkart Big Diwali Sale 2023: Dhamaka discount starts from Nov 2; know the UPI, bank offers

Interestingly, Zepto managed to improve its profit after tax (PAT) margin from 277% in FY22 to 63% in FY23 and remains on track to achieve EBITDA breakeven in the near future. The company's growth, including profitable dark stores, has been remarkable, leading to its unicorn status with a valuation of $1.4 billion after raising $200 million in a recent funding round led by the StepStone Group.

Zepto competes with industry giants like Swiggy, Instamart, and Blinkit.

Zepto

Recommended For You

editorji | Business

Rupee breaches 91-mark against US dollar for first time in intra-day trade

editorji | Business

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

editorji | Business

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

editorji | Business

RBI raises FY26 GDP growth projection to 7.3 pc

editorji | Business

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper