Zepto FY24 results: Revenue doubles to Rs 4,454 cr from Rs 2,026 cr in FY23

E-commerce major Zepto reported an impressive growth of around 120%, with revenues rising from Rs 2,026 crore in 2016 to Rs 4,455 crore in 2016. This growth was attributed to 10 to the growing trend of customers preferring minute deliveries.

Zepto saw strong revenue growth, which helped offset its losses partly due to improved margins.The company’s net loss fell by 2% to Rs 1,248.64 crore in FY23, compared to Rs 1,271.84 crore in FY23 loss as a percentage of revenue declined significantly from 63% in FY23 to 28% in FY24.

Zepto made significant investments in marketing, materials and other expenses, which led to a 72% increase in total expenses from 3,350 in FY23 to 5,747 in FY24 losses by about 2% from Rs 1,272 crore in FY23 to Rs 24,200 crore in FY24. 1,249 rupees core.

“Our accounting revenue has grown 120% YoY… Even with 120% growth, our absolute losses have come down YoY with PAT as a percentage of revenue improving from -63% in FY23 to – At 28.24%, we expect to continue this growth rate in the near future to a clear path to PAT profitability,” said CEO and Co-Founder Aadit. Palichan: LinkedIn.

Zepto’s largest expenditure in the financial year was on the purchase of goods at a total of Rs 3,449.83 Cr.This is a 77% increase over the previous year’s expenditure of Rs 1,953.03 Cr.

Employee expenses. Zepto spent Rs 426.30 crore on its workforce, which represents a 62% increase over the expenditure of Rs 263.45 crore in the previous financial year.

Storage costs. Storage expenses stood at Rs 492.65 crore, reflecting a 43% increase over Rs 344.79 crore in the previous financial year.

Advertising costs:

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto Datalabs offers fast 10-minute delivery services for a variety of products including groceries, packaged foods, ready meals, daily essentials and electronics.

Zepto embarked on a successful fundraising journey in 2024, securing a total of over $1.3 billion in funding, raising $665 million in June, $340 million in August, and an additional $350 million in November.

Zepto is one of the top three e-commerce companies in India competing with Zomato’s Blinkit and Swiggy Instamart.While Blinkit leads the market, Swiggy Instamart and Zepto are in close competition in terms Zepto outperforms both competitors.

In FY24, Blinkit generated revenue of Rs 2,301 crore, Swiggy Instamart had total sales of Rs 1,100 crore and Zepto topped the list with a top line of Rs 4,455 crore.

These three companies face competition from Flipkart Minutes, Tata BigBasket and are bracing for the entry of industry giants like Amazon.

Zepto’s IPO Plans

Palicha expressed optimism about the possibility of an initial public offering (IPO) in 2025. In November, Zepto secured $350 million in fresh funding from prominent domestic investors such as Indian HNIs, leading financial institutions and family offices in a round backed by Motilal Oswal. Private wealth department. The funding round was aimed at strengthening internal ownership in anticipation of a potential IPO in 2025, according to Palicha.

“That is our ambition… Of course, the capital markets can change, but for now we are optimistic, if the business also continues to work, that we will go public in calendar 2025,” Paliča said.
It is worth noting that Zepto’s rivals Zomato, which operates Blinkit, and Swiggy, which runs Instamart, are listed on the exchanges.