BigBasket loss widens to Rs 348 crore; revenue up 69% to Rs 2,380.95 crore

Innovative Retail Concepts (BigBasket) saw its loss widening to Rs 348.27 crore in 2018-19 financial year, while revenue grew about 69 per cent to Rs 2,380.95 crore from the previous financial year, as per regulatory documents.

The company had posted a loss of Rs 179.23 crore in 2017-18 financial year, documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler showed.

The company registered 68.9 per cent increase in revenue from operations to Rs 2,380.95 crore in 2018-19 from Rs 1,409.61 crore in the previous fiscal, it added.

BigBasket declined to comment on the numbers.

According to reports, Innovative Retail Concepts runs the consumer business of BigBasket, while SuperMarket Grocery Supplies is the wholesale arm of the company.