 "bigbasket")
Revenue was up 5.7 per cent at Rs 2,391.83 crore for FY24. In FY23, Bigbasket reported a turnover of Rs 2,261.28 crore.
Tata Digital, the ecommerce arm of Tata Sons, saw its losses narrow for FY24 to Rs 1,200.82 crore. Losses for FY23 were Rs 1,370.09 crore, according to the FY24 annual report of Tata Sons.
Revenue for FY24 almost doubled from Rs 204.35 crore in FY23 to Rs 420.51 crore.
The company also reported its gross merchandise value (GMV) at Rs 37,355 crore. There are 20.76 million transacting customers this year.
The financial services segment witnessed significant growth, with co-branded credit cards reaching 1.18 million cards, becoming the fastest-growing co-branded credit card in India, said the report.
The NeuPass programme, said the report, has achieved strong growth, with a sizable 116.4 million member base.
Bigbasket, the largest e-grocery platform in the country, also saw its losses narrow to Rs 128 crore from an FY23 loss of Rs 215.21 crore.
Revenue was up 5.7 per cent at Rs 2,391.83 crore for FY24. In FY23, Bigbasket reported a turnover of Rs 2,261.28 crore.
Tata 1MG Technologies turned profitable, with profit at Rs 22 crore for FY24, up from a loss of Rs 694 crore in FY23.
The improvement in Tata Digital’s financial performance also comes as CEO Naveen Tahilyani, appointed to the role in February this year, tightened the cost structure in the company and streamlined the organisation, making the firm more nimble and business-focused.
First Published: Sep 08 2024 | 3:45 PM IST