Global food ordering and delivery platform Foodpanda reported a net revenue of 11.7 million euros (R83.4 crore) for the quarter ended June 30, 2016
Global food ordering and delivery platform Foodpanda reported a net revenue of 11.7 million euros (R83.4 crore) for the quarter ended June 30, 2016, up 64.8% on a year-on-year basis, according to consolidated financial statement released by its parent company Rocket Internet.
The Berlin-headquarted company operates in 24 countries across Asia, Middle East, Russia and Eastern Europe. During the period, the company’s gross profit increased 67% Y-o-Y to 11.2 million euros due to improvement in automation and efficiency gains, according to investor presentation by the company.
The company posted a negative Ebitda at 14.8 million euros from 21.7 million euro, during the same period last year. During April-June, Foodpanda reported 15% sequential and 69% on a yearly basis growth in total number of orders delivered on a global level.
According to the investor presentation made by Foodpanda on Thursday, the GMV of the company increased by 53% on year-on-year basis to 87.3 million euros. As on June 30, 2016, Rocket Internet’s stake in Foodpanda remained unchanged from December 2015 at 49.1% and
Foodpanda’s cash position stood at 72.1 million euros.
As reported earlier, in FY15 the Indian arm of Foodpanda, run by Pisces eServices Private, reported higher losses at R36 crore against R7 crore during the same period last year.