HomeStartupJumbotail’s FY23 revenue grows over 2x to Rs 819 Cr; losses grow...

Jumbotail’s FY23 revenue grows over 2x to Rs 819 Cr; losses grow proportionately

Published on

spot_img
Jumbotail Records Nearly Double Losses at Rs 264 Crore Despite Revenue  Surge | Startup Story
  1. Jumbotail, a B2B marketplace, experienced exceptional growth, with revenues surging from Rs 123 crore in FY21 to Rs 819 crore in FY23.
  2. Revenue primarily came from the sale of traded goods, contributing 94% of the total operating revenue, which increased significantly to Rs 767 crore in FY23.
  3. The company recorded a Gross Merchandise Value (GMV) of Rs 2,262 crore in FY23, marking a two-fold increase from Rs 1,128 crore in FY22.
  4. Operating costs, especially the cost of procurement of materials, surged to Rs 740 crore in FY23 from Rs 341 crore in FY22, leading to a 112% rise in total expenditure to Rs 1,114 crore.
  5. Despite revenue growth, increased costs outpaced it, resulting in amplified losses, soaring to Rs 264 crore in FY23 from Rs 125 crore in FY22, impacting profitability and operational efficiency.
SourceEntrackr

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...