The results are in line with the company's stated strategy of maximising the operating efficiency of the marketplace and pursuing growth basis healthy unit economics, Snapdeal said.
Snapdeal on Tuesday said its consolidated revenues rose by nearly 73% to Rs 925.3 crore in the year till March 2019. The company’s losses decreased to Rs 186 crore in FY19 from losses of about Rs 611 crore in FY18. Revenue from operations rose to Rs 813.8 crore in FY19 from Rs 436.1 crore in FY18, an increase of 87%, the company said.
“This year we continued our focus on driving growth with a lean and capital efficient foundation in the business. The company achieved a significant milestone by achieving cash break even in the month of June 2018 and also made the highest ever net revenue in its history in the month of October 2018,” Snapdeal said in filings made with the Registrar of Companies (RoC).
The results are in line with the company’s stated strategy of maximising the operating efficiency of the marketplace and pursuing growth basis healthy unit economics, Snapdeal said.
“Our transacting customers grew 2.2 times and traffic surged 2.3 times to 70 million unique users per month. And all this in a year when the e-commerce companies in India burnt through $2.5 billion in the pursuit of growth,” Kunal Bahl, CEO & co-founder said in a blog posted on his LinkedIn account
Bahl added, “The doubling of our orders in the last one year is actually a two-fold increase in the business of the seller partners on our platform, the majority of whom are small businesses. Each and every order is fulfiled on Snapdeal is by independent, third-party seller partners”.
In the last two years, Snapdeal has added over 60,00 new seller partners, who have added over 50 million new listings. The company said that at present it has more than 5,00,000 registered sellers, who have more than 200 million listings on the marketplace.