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With 64% jump in revenue, foodpanda India closes FY ’17 on strong note
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Monday, 04 December, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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foodpanda, India’s leading online marketplace for food delivery, reported its latest revenue figures for financial year (FY) 2016-17. Jumping up by 64 per cent in revenues, the company earned Rs 62.16 crore during the year vis-a-vis Rs 37.81 crore in FY 2015-16, owing to strong order growth in key markets.
Wrapping up a strong year for the brand, it also registered an impactful 69 per cent dip in losses at Rs 44.81 crore from Rs 142.64 crore in FY 2015-16. Running its services at operational profitability since 2015, the brand continues to invest and strengthen its technology and delivery services in the country.
Laying more focus on the per unit economics, foodpanda India registered profits on every order fulfilled in the year. Aiming at being profitable by FY 2019, it has been working towards realising its vision to change the way India eats.
That includes foraying into third-party delivery logistics through Dash, food recommendation and discovery through the revamped India app, roping Shahrukh Khan in as the face of the brand and working on food quality initiatives such as the Food Doctor Programme.
Commenting on the same, Saurabh Kochhar, co-founder and chief executive officer, foodpanda India, said, “The growth that we are seeing year-on-year is only encouraging us to push the boundaries further in a profitable fashion.”
“We are rigorously moving towards strengthening our technology and delivery services in cognisance of the fact that the food services industry in the country is worth $50 billion,” he added.
“Keeping customer-centricity at the core, we are making the food ordering experience seamless, personalised and intuitive,” Kochhar said.
“Further to that, our delivery services and food quality compliance programmes are adding value to how the ordered food reaches our customers,” he added.
“We are working on both sides - partner restaurants and end-users - to create an impact in the food tech industry,” Kochhar said.
foodpanda India today fulfills approximately 50 per cent of the orders through their own delivery services and uses 100 per cent automation in the back-end for a seamless experience for the partner restaurants and users alike.
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