Swiggy lost Rs 1.5 for every Re 1 it earned last year; revenue jumped six-fold w - VC Circle

Bundl Technologies Pvt. Ltd, which runs food delivery app Swiggy, clocked a revenue of Rs 133 crore in the financial year ended March 2017, up over six-fold from Rs 20 crore in the previous year, show the company’s filings with the Registrar of Companies (RoC). Losses, however, widened to Rs 205 crore in FY17 from Rs 137 crore in the previous year. Total expenditure, too, surged to Rs 345 crore from Rs 157 crore in the year prior, the documents show. Text messages sent to Swiggy co-founders Sriharsha Majety and Nandan Reddy went unanswered. Sector turning corner? […]
 

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