The agritech startup’s revenue from operations grew 60% to INR 747.6 Cr in FY21
Despite the decline in employee benefits expenses and finance costs, Ninjacart’s total expenses rose to INR 1,790.4 Cr in FY21 from INR 1,045.6 Cr in FY20
Walmart-backed Ninjacart sources staples, fruits, vegetables, and other groceries from farmers and supplies them to supermarkets and other kirana stores
Walmart-backed agritech startup Ninjacart’s net loss almost doubled to INR 1,021 Cr in the financial year 2020-21 (FY21) from INR 537.2 Cr in FY20, regulatory filing by the startup’s parent company, 63Ideas Infolabs, showed.
On the other hand, the startup’s revenue from operations grew 60% year-on-year (YoY) to INR 747.6 Cr in FY21.
Ninjacart saw a 71% increase in its total expenses for the year to INR 1,790.4 Cr as its other expenses and spending on purchases of stock-in-trade saw a significant increase.
The startup’s other expenses, which include expenditure on transportation,…