Under the leadership of Adit Palicha, quick-commerce unicorn, Zepto revealed 120% growth in revenue for FY2014 to ₹4,454 crore from ₹2,025 crore in FY2013.
The rise in demand for 10-minute delivery on traditional e-commerce platforms and neighborhood grocery stores is indicative of a change in consumer preferences.
Zepto Revenue posts 120% revenue growth in FY2024
Zepto narrowed its net loss to ₹1,248.64 crore in FY24 from ₹1,271.84 crore in FY23, a 2% The decline came despite the company’s rapid revenue growth.
Due to significant investment in marketing, content and operations, expenses increased by 72% from ₹3,350 crore in FY2013 to ₹5,747 crore in FY2014.
60% of the total expenditure was spent on procurement, which increased by 87% to ₹3,481 crore in FY24.
The total cost of employee benefits came to ₹426 crore, including ₹74 crore for non-cash employee stock ownership plans (ESOPs).
Due to the company’s investment in logistics, warehouse costs increased by 43% to ₹493 crore, while delivery costs increased to ₹580 crore.
While technology spend for optimization of digital infrastructure increased by 66% to ₹116 crore, marketing spend increased to ₹303 crore with emphasis on brand visibility.
What help did Zepto get?
Early options like SAP FICO integration and automated revenue-to-cash solutions helped Zepto reach governance milestones, including a clean CARO and a full statutory audit by a Big 4 firm without financial qualifications.
According to Palicha, “Despite being only 3 years old, we were able to successfully complete a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare feat for a young startup is the result of the governance-focused culture at Zepto and the early decision-making process, which prioritized controller excellence (e.g. SAP FICO integration, automated revenue-to-cash solutions, installation of H2H payment system Etcetera) .”
In India’s instant-commerce market, the company has a market share of 29%, ahead of Swiggy Instamart (25%), but behind Blinkit (46%).
Zepto outperformed rivals in terms of revenue generation in FY24, with Blinkit and Swiggy Instamart reporting revenues of ₹2,301 crore and ₹1,100 crore, respectively.
CEO Adit Palicha announced the release of an exclusive app for Zepto Café, a division that specializes in carefully selected snack and beverage options.
Zepto Café is growing rapidly, handling over 30,000 orders every day and adding over 100 new locations every month.
The business is still optimistic of maintaining growth and reaching PAT profitability soon.
