CosmicTaco

Licious Reports 44% Decrease in FY24 Loss to INR 294 Cr

CosmicTaco · 2024-10-16T17:20:12.309317+05:30

- Licious reported a 44% decrease in loss to INR 293.77 Cr in FY24 from INR 528.5 Cr in FY23. - However, the startup's revenue also declined by 8.4% to INR 685.05 Cr in FY24 from INR 748 Cr in FY23. - The decline in revenue was attributed to the closure of sales from Dunzo and Swiggy Meatstore, and reduced exposure to modern trade and local stores. - Despite this, the company saw a 35% YoY growth in quick commerce deliveries and is now piloting 30-minute meat deliveries in Gurugram. - Licious is also planning to expand its offline store network, recently acquiring Bengaluru-based retailer My Chicken and More. Source: [Inc42](https://inc42.com/buzz/licious-says-fy24-loss-down-44-yoy-to-inr-294-cr/)

Licious reported a 44% decrease in loss to INR 293.77 Cr in FY24 from INR 528.5 Cr in FY23.
However, the startup's revenue also declined by 8.4% to INR 685.05 Cr in FY24 from INR 748 Cr in FY23.
The decline in revenue was attributed to the closure of sales from Dunzo and Swiggy Meatstore, and reduced exposure to modern trade and local stores.
Despite this, the company saw a 35% YoY growth in quick commerce deliveries and is now piloting 30-minute meat deliveries in Gurugram.
Licious is also planning to expand its offline store network, recently acquiring Bengaluru-based retailer My Chicken and More.

Source: Inc42