The Bengaluru-based company reported a slight increase in its total expenses at Rs 11,515 crore compared with Rs 11,284 crore in FY23.
A significant part of the expenditure was attributed to purchase of stock-in-trade, amounting to Rs 8,339 crore (Rs 8,016 crore in FY23), employee benefits expenses at Rs 936 crore (Rs 1,060 in FY23), along with other expenses totalling Rs 1,902 crore, regulatory filings sourced from Tofler showed.
Its advertising and sales promotion cost came down to Rs 330 crore from Rs 385 crore in FY23.
On the other hand, Innovative Retail Concepts, the business-to-consumer (B2C) unit of BigBasket, posted a 6% year-on-year growth in operating revenue for FY24 to Rs 7,885 crore, with a net loss of Rs 1,267 crore.
In January, BigBasket had rebranded its slotted delivery service, which allows customers to choose a delivery time for their groceries, to “Supersaver”, with a commitment to delivering products in less than two hours.
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In the broader grocery segment, BigBasket competes with Reliance JioMart, Walmart-owned Flipkart and Amazon India.On August 27, ET had reported that BigBasket is set to become a full-scale quick commerce platform through its BB Now offering, driven by the growing demand for rapid deliveries. Over 50% of its sales come from this quick delivery segment.
BigBasket is planning to raise $80-100 million in a mix of debt and equity to finance its expansion plan. It is making significant investments in its quick commerce division, leading to more burn.
In India, the demand for quick delivery is at an all-time high and is being met by players including Zepto, Zomato-owned Blinkit and Swiggy Instamart. Recently, Flipkart entered the quick-commerce race with a service called Minutes.
A recent report by Nomura said the quick commerce space in the country is expected to clock 100-110% year-on-year growth in gross order value (GOV) in FY26 on the back of companies increasing the count of dark stores. BB Now has 400-450 dark stores.
