Zepto's revenue grows 120% YoY to Rs 4,454 crores in FY24
Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm, said Aadit Palicha, co-founder, Zepto.
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Zepto's revenue has grown 120% year-on-year from Rs 2,025 Crores in FY23 to Rs 4,454 Crores in FY24.
"Even with 120% growth, our absolute losses came down year-on-year with PAT as a percentage of revenue improving from -63% in FY23 to -28% in FY24. We expect to continue this growth momentum with a clear path to PAT profitability in the near term," shared Aadit Palicha, co-founder, Zepto in a social media post.
"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that prioritized controllership excellence (like SAP FICO integration, automated revenue-to-cash reconciliation, set up of an H2H payment system). More importantly, this was only possible because of our excellent finance team led by our CFO Ramesh Bafna and our Chief Controller Sandip Khetawat, both of whom I have been privileged to learn from," he added.
Earlier this month, Zepto's Palicha had shared that the quick commerce company has crossed Rs 1,000 Crores in annualized advertising revenue (Rs 83+ crore per month).
"It's been less than 3 years since we launched our Ads Business, and the team we put together has been executing like a machine. I'm honestly grateful to be working and learning from some of the smartest operators in Internet India today," Palicha had stated.
Zepto's Jarvis is designed to enhance visibility and boost sales for its platform's merchants. According to Zepto, the new tool is poised to reshape how brands engage with consumers, offering a direct connection between advertisers and users while fostering long-term brand relationships.
This strategic expansion into advertising signals Zepto's recognition of the growing importance of marketing within the rapidly expanding quick commerce space. The company is already seeing impressive results.
Furthermore, in a major step toward consolidating its fast-growing café business, Zepto Café, the coffee-centric spinoff of Zepto, debuted its own standalone mobile application recently.
Zepto's rival Zomato-owned quick-commerce firm Blinkit isn't far behind; it has launched Bistro, a new food delivery app that will deliver snacks and other food items in 10 minutes, as per reports. Bistro's launch comes one day after Zepto announced plans to roll out a different app for Cafe.
Currently in the pilot phase, and operational in certain areas of Gurugram, Blinkit's Bistro delivers meals, snacks, and beverages like tea and coffee. This is Zomato’s second attempt at 10-minute food delivery after Zomato Instant which was shuttered earlier.
