Zappfresh H1: Profit Nearly Triples YoY To INR 7 Cr

Recently listed D2C meat delivery company Zappfresh’s net profit zoomed 2.9X to INR 7 Cr in the first half of FY26 (H1 FY26) from INR 2.4 Cr in the year-ago period. Sequentially, profit rose 6% from INR 6.6 Cr. 

Operating revenue grew 43% YoY to INR 95.6 Cr during the period under review. It rose 50% from 63.8 Cr in H2 FY25.

Including other income of INR 34.2 Lakh, total income stood at INR 96.2 Cr in the six-months ended September 2025. Meanwhile, total expenses increased 32% YoY to INR 84.2 Cr. A large chunk of its expenses, INR 65.7 Cr, were spent on the cost of goods sold during the quarter. This expense surged 34% YoY.

Zappfresh’s EBITDA for the period under review zoomed nearly 3X to INR 14.9 Cr  from INR 5.2 Cr EBITDA reported in the year-ago period. 

In a statement, Zappfresh attributed the improvement in its balance sheet to sustained consumer demand, strengthening of its supply chain and deepening partnership with HORECA (Hotels, Restaurants, and Caterers) clients. Besides, the company also increased its working capital cycle due to extended credit to key B2B clients to support sales momentum. 

“With our strengthened cold-chain backbone, category-driven strategy, and expanding metro presence, we remain committed to sustainable, profitable, and long-term value creation for our shareholders who have backed us in this new chapter as a listed company,” Zappfresh CEO Deepanshu Manchanda said.

In FY25, Zappfresh’s net profit soared 94% YoY to INR 9.1 Cr while its top line rose nearly 45% YoY to INR 130.7 Cr. In the previous fiscal, the company’s B2B arm’s revenue grew multifold to INR 36.7 Cr while its B2C segment registered a 10% YoY growth to INR 94.1 Cr. The listed company didn’t give the breakdown of its top line for H1 FY26.

A Look At Zappfresh's Pre-IPO Financials

Source: Inc42 Datalabs

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Important to mention that Zappfresh got listed on the BSE SME platform on October 9, listing at a 20% premium on the stock exchange.The company raised INR 59.04 Cr via the IPO at the issue price of INR 100. Since listing, the company’s shares have zoomed over 40%.

Along with announcing its financials, Zappfresh also appointed Akhil Gupta as its new chief strategy officer. Gupta brings two decades of work experience in the financial services industry, working with organisations like Indiabulls, Moserbaer, Ramco, ICICI bank and Luminous.

Shares of Zappfresh ended today’s trading session up 4.46% at INR 176.85.