Zepto is an online quick-commerce platform that announced a 119.8 percent increase in operational revenue to Rs 4,454 crore in FY24. The startup provides an application-based platform that offers grocery delivery services. The application offers fruits, vegetables, seafood, meat, spices, and more. The sale of products is the company’s major source of revenue. This income increased by 120 percent and accounted for 89.2 percent of the total operating revenue in FY24.
The firm also earns its income through delivery, warehousing, advertising services, and interest on deposits. These costs pushed the total revenue to Rs 4,498 crore. This includes money from non-operating income worth Rs 44 crore. The company has secured over 1.9 billion USD across multiple funding rounds since its inception, including $350 million raised during its series G funding round led by Motilal Oswal Private Wealth, Claypond Capital, RPSG group, Cello, and other investors. The startup data intelligence platform, thekredible mentioned that the company’s post-money valuation is around 5 billion USD.
The Mumbai-based grocery delivery platform allows users to buy multi-category products including household essentials and beauty products. The online platform uses advanced technologies to provide a seamless customer experience. The cost of product procurement increased by 87 percent and crossed Rs 3,481 crore in FY24. This cost accounted for 60.5 percent of overall expenditure. The information technology expenses increased by 65.7 percent to Rs 116 crore in FY24. However, Rs 580 crore from the total expenditure goes to the delivery expenses.
The firm’s total expenditure increased by 71.6 percent to Rs 5,747 crore in FY24. The startup reported a 1.9 percent decrease in its losses of Rs 1,248 crore in the same duration. Meanwhile, the employee benefits increased by 62 percent to Rs 426 crore for this fiscal year. This includes the non-cash ESOP worth Rs 74 crore. The company intends to control its losses by reducing operating expenses and employee benefits.
The startup delivers around 25,000 products within 10 minutes through its large network of stores across various categories. Zepto claims to supply over 700,000 daily orders through its 550 dark stores. The EBITDA margin remained negative but improved and stood at -23.81 percent while the ROCE was around -119.3 percent. Zepto faces competition from other grocery delivery service offering platforms such as Blinkit, Swiggy, and Dunzo.
Conclusion :
The quick-commerce startup Zepto announced a 119.8 percent increase in its revenue from operations to Rs 4,454 crore in FY24. This grocery delivery platform offers multi-category products like household, electronics, and beauty supplies. The sale of these products and interest on deposits are the firm’s primary sources of revenue.
The net loss also decreased by 1.9 percent to Rs 1,248 crore in FY24. The firm’s total expenditure increased by 71.6 percent and crossed Rs 5,747 crore in the same duration. The company plans to control its operating and employee expenses. The company has secured over 1.8 billion USD across multiple funding rounds to date.
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