Flipkart-Backed Ninjacart’s Net Loss Narrows 70% To INR 308 Cr In FY22

Flipkart-Backed Ninjacart’s Net Loss Narrows 70% To INR 308 Cr In FY22

SUMMARY

Led by a sharp fall in expenses and improvement in margin, Ninjacart’s net loss declined from INR 1,023 Cr in FY21

The agritech startup’s operating revenue grew 1.2X to INR 967.3 Cr from INR 755 Cr in FY21

Ninjacart’s EBITDA margin improved to -28.7% in FY22 from -43% in FY21

Flipkart-backed B2B agritech startup Ninjacart’s net loss narrowed 70% to INR 307.9 Cr in the financial year ending March 31, 2022 from INR 1,023 Cr in the financial year 2020-21 (FY21) as its expenses declined and margin improved.

The Bengaluru-based startup didn’t only manage to cut down its loss but also saw an increase in its top line. Ninjacart’s operating revenue grew 1.2X to INR 967.3 Cr from INR 755 Cr in FY21.

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