Zepto Aims for Profitability: Revenue Surges Amidst Reduced Losses

Zepto, a quick commerce firm, has reduced its losses to Rs 1,248.6 crore in 2023-24 while doubling its revenue to Rs 4,454 crore. Zepto's co-founder, Aadit Palicha, announced future profitability goals and an expansion plan to 50 cities, alongside ambitions for an IPO in 2025.

Mumbai-based quick commerce company, Zepto, has substantially reduced its losses, reporting a Rs 1,248.6 crore loss in the fiscal year 2023-24, down from Rs 1,272.4 crore the previous year, according to Tofler data.

The firm recorded a remarkable revenue growth, reaching Rs 4,454 crore in FY24, more than double its Rs 2,025 crore revenue for the prior fiscal year. Aadit Palicha, Zepto's co-founder, shared these promising figures on LinkedIn, highlighting a significant improvement in profit after tax as a percentage of revenue, from -63% to -28%.

Palicha expressed confidence in Zepto's trajectory towards profitability and announced expansion plans to over 50 cities by the next quarter, with a potential IPO on the horizon for 2025. This strategic growth and robust financial planning demonstrate Zepto's commitment to becoming a fully Indian-owned firm within the next financial year.

(With inputs from agencies.)