Snapdeal to make profit in two years, says CEO Kunal Bahl

As the company takes steps to cut costs & boost efficiency in a highly competitive e-commerce market

Indian e-commerce firm Snapdeal expects to turn profitable in the next two years, its chief executive officer said, as the company takes steps to cut costs and boost efficiency in a market currently dominated by homegrown Flipkart and the US internet giant Amazon.

Kunal Bahl, who co-founded Snapdeal in 2010, also told Reuters in an interview on Monday that the online marketplace provider backed by Japan's SoftBank Group did not immediately need to raise capital unless it makes an acquisition.

"I see a relatively clear line of sight to (profit) and we've been making great progress in that direction also," Bahl said.