BigBasket loss widens to Rs 1,535 cr in 2022-23, revenue up by 5%
The company’s revenue increased by 5% to Rs.7,462 crore
Online grocery delivery company Innovative Retail Concepts, operating as BigBasket, has posted a widening loss of Rs 1,535 crore for 2022-23, as per details shared by Tofler.
BigBasket’s loss increased by 89 percent, Toffler said, which means the company posted a loss of around Rs. 812 crore in 2021-22.
The company’s revenue increased by 5% to Rs.7,462 crore.
“The company also recorded a net loss of INR 1,535 crore during the same financial year. This is an increase of 89 per cent over the previous financial year. The company’s total expenses for the financial year were reported as Rs. 8,998 crore,” the report said.
BigBasket declined to comment on the report.
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First published: June 29, 2023 | 11:58 PM ist