Grofers' standalone loss narrows to Rs 258 crore in FY18

Grofers has narrowed its standalone losses to Rs 258 crore in the financial year 2017-18. The company's revenue from operations rose 58% to Rs 53 crore in the year to March 2018.

Grofers had reported a net loss of Rs 268 crore for the year ended March 2017.

Saurabh Kumar, Co-Founder, Grofers, said, "At Grofers, we are pleased with our year-on-year growth trajectory. We have been witnessing a surge in revenue, while the operating losses have plummeted. Our GMV (gross merchandise value) has increased by 150 per cent from FY2016-17 to FY2017-18." 

"At an operational level, we expect to break even by June this year. Sales doubled over the past three years and we will close the current fiscal with sales of nearly Rs 2,500 crore. There were high fixed costs related to infras and warehousing initially, but losses will come down on the back of sales volumes," he added.