Bigbasket loss widens in 2019 to Rs 348 crore

Innovative Retail Concepts, which runs the consumer business of Bigbasket, saw its loss widening to Rs 348 crore ($48.5 million) for the financial year 2018-19 with revenue growth of about 69 percent to Rs 2,381 crore from the previous financial year.

The company had reported a loss of Rs 179 crore for the financial year 2017-18 with revenue of Rs 1,410 crore, according to documents filed by the company with the Corporate Affairs Ministry.

Bigbasket expects its revenue to reach Rs 6,300 crore for the financial year 2020 on the back of its pan-Indian expansion coupled with strong performances of its private labels.

Apart from the expansion of its business in India, Bigbasket also plans to strengthen its new categories like beauty and personal care during the year. The company had recently started retailing cosmetics online in February, with its launch of The Beauty Store.

With strong growth across categories, Bigbasket expects to break even before the end of the current financial year.

Bigbasket currently sells over 22,000 products from 300 plus brands. It has 12 million registered customers across India.

Bigbasket loss widens in 2019 to Rs 348 crore

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