Ripplr’s FY24 Net Loss Widens 43.5% To INR 89.15 Cr

SUMMARY

The company recorded a 38.9% rise in operating revenue for the year under review at INR 1,028.38 Cr against INR 740.22 Cr reported in FY23

While the sale of products accounted for 91% of the total operating revenue at INR 938.54 Cr, revenue from the sale of services contributed merely INR 89.84 Cr

Similarly, its expenses swelled 39.4% to INR 1,121.58 Cr from INR 804.54 Cr reported in the previous year

Distribution and logistics startup Ripplr’s net loss widened 43.5% to INR 89.15 Cr in the quarter ending March 31 2024 (FY24) from INR 62.09 Cr in the previous fiscal year.

Despite this, the company recorded a 38.9% rise in operating revenue for the year under review at INR 1,028.38 Cr against INR 740.22 Cr reported in FY23, as per data available in Tofler.

While the sale of products accounted for 91% of the total operating revenue at INR 938.54 Cr, revenue from the sale of services contributed merely INR 89.84 Cr.

The logistic startup reported a total income of INR 1,032.43 Cr against the INR 742.44 Cr reported last year.

Similarly, its expenses swelled 39.4% to INR 1,121.58 Cr from INR 804.54 Cr reported in the previous year. Of these, purchases of stock-in-trade accounted for the highest expense at INR 901.50 Cr while the employee benefit expense was INR 60.22 Cr.

Besides this, other expenses contributed INR 160.37 Cr to the overall expense.

These numbers for FY24 come few months after the Bengaluru based company raised $40 Mn in its Series B funding round in May.

The funding round, which was a mix of equity and debt, was led by Fireside Ventures on the equity side alongside participation from Bikaji and Neo Foods and existing investors 3one4 Capital, Zephyr Peacock and Japanese conglomerate Sojitz Corporation.

While Stride Ventures, Alteria Capital, Northern Arc Investments and Trifecta Capital participated in the debt part of the round.

To date, the startup has raised a cumulative funding of $ 54.93 Mn.

Founded in 2019 by Abhishek Nehru and Santosh Dabke, Ripplr offers a B2B web platform and mobile application to connect retailers with distributors.

The startup claims that the platform uses AI to make predictions and decisions which helps brands deliver an integrated customer experience by elevating certainty and quality for consumers.

It counts Dabur, Tata Consumer Products, and Godrej among its customers for its distribution service vertical, while its logistics services are used by the likes of BigBasket, Zomato, among others.

The startup has a presence in Maharashtra, Delhi, Kerala, Karnataka and Tamil Nadu. It manages 24 warehouses in these states.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.