Supermarket Grocery Supplies, which operates an online grocery business under BigBasket, saw its net loss widening sixfold at Rs 659.1 crore for the year ended March 2017, according to filings with the Registrar of Companies (RoC) and data platform Tofler. The company’s net loss stood at Rs 102.1 crore in FY16. Revenue from operations increased 109% to Rs 1176.6 crore. Employee benefit expense rose 48.2% to Rs 142.4 crore. Total expenses increased 75.4% to Rs 1516.2 crore in FY17.
BigBasket, which is an online grocery company, currently competes with players such as Grofers, Amazon — which runs two services, Prime Now (earlier Amazon Now) and Amazon Pantry — besides MilkBasket, among others. According to several reports, BigBasket is in talks with investors to raise fresh funds ranging between $300 million and $500 million. The company last raised $300 million from Alibaba Group Holding and other investors in February this year.