Zepto Narrows Loss To Rs 1,248.6 Cr In FY24, Revenue Doubles To Rs 4,454 Crore

New Delhi: Quick commerce firm Zepto, valued at over 5 billion dollars, has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223, as per data shared by Tofler. The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, over a two-fold increase from Rs 2,025 crore in the previous fiscal.

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Zepto co-founder Aadit Palicha took to LinkedIn to share the results. "Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote on the digital platform, expressing optimism about continuing this momentum towards profitability. He said the company is on track for a profit after tax (PAT) in the near future. 

Zepto Eyes IPO in 2025, Domestic Ownership by FY26

"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and 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, etc)," Aadit Palicha said.

Zepto doubles revenue to ₹4,454 crore in FY24, narrows losses, eyes IPO in 2025, and plans expansion to 50+ cities.

During a PTI interview earlier this month, Aadit Palicha exuded optimism about a possible IPO in 2025. "We're willing to commit that within the next financial year, sometime in FY26, we will become a full Indian-owned company... that's our ambition and objective, and it looks quite likely that we're going to get there," he had said, adding that what he could reveal is that Zepto will be a domestic company within the next financial year. 

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The co-founder also added that Zepto plans to expand its operations to more than 50 cities by the next quarter. "In the next financial year, we will be PAT positive. We are quite confident, and that hopefully will be a positive signal to the markets," he had said.