BigBasket FY16 losses up 363% to Rs 278 cr

The online grocer saw employee costs grow three and half times to Rs 91.23 cr in fiscal 2016

Online grocer BigBasket saw losses grow three and half times to Rs 278 crore, while revenue grew twice to Rs 580 crore in fiscal 2016, as it entered new cities and expanded its operations.

The Bengaluru-based online grocer, which has Bollywood star Shah Rukh Khan as its star campaigner to woo more users across cities to shop on its online platform, saw employee costs grow three and half times to Rs 91.23 crore in fiscal 2016, according to the regulatory filings sources by data firm Tofler.

BigBasket had reported losses of Rs 60 crore on revenue of Rs 178 crore in 2014-15.

The firm founded in 2011 raised $246.7 million (Rs 1,600 crore) from investors such as Abraaj Group, Bessemer Venture Partners, Helion Venture Partners and ICICI Venture in seven rounds. In July 2015, the company acquired hyperlocal delivery firm Delyver for an undisclosed sum.