Bigbasket’s Loss Widened To Rs 348 Crore In 2018-19
Bigbasket, an online grocery delivery startup operated by Innovative Retail Concepts, saw its loss widen to Rs 348.27 crore in 2018-19 on the back of revenue that grew 69 percent to Rs 2,380.95 crore from the previous financial year, regulatory documents show.
The company had posted a loss of Rs 179.23 crore in 2017-18, documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler showed.
The company registered 68.9 percent increase in revenue from operations to Rs 2,380.95 crore in 2018-19 from Rs 1,409.61 crore in the previous fiscal, it added.
Bigbasket declined to comment on the numbers.
According to reports, Innovative Retail Concepts runs the consumer business of Bigbasket, while SuperMarket Grocery Supplies is the wholesale arm of the company.