<p>Supermarket Grocery Supplies (SGS), which operates e-grocery platform BigBasket, has seen its consolidated losses widen to Rs 611 crore, even as revenue from operations increased 37.7 per cent to Rs 3,794.1 crore in FY20.</p>.<p>As per regulatory documents filed with the Corporate Affairs Ministry, SGS had registered a loss of Rs 572.1 crore and revenue of Rs 2,754.1 crore in FY19 on a consolidated basis.</p>.<p>Its consolidated total expenses swelled by over 31 per cent to Rs 4,433 crore in FY20 from Rs 3,376.3 crore in FY19, documents sourced by business intelligence platform Tofler said.</p>.<p>Emails sent to the company did not elicit any response.</p>.<p>BigBasket competes with the likes of Grofers, JioMart, Amazon, Flipkart and others in the e-grocery space.</p>.<p>"The company has been incurring significant losses over the years and has raised equity from shareholders to fund its operations," the document said.</p>.<p>Subsequent to the year-end, the company raised Rs 393.5 crore from certain investors, along with its existing working capital level at the year-end, SGS believes it will be able to fund its operations for the next year, the document added.</p>.<p>"As of March 31, 2020, the company had a working capital of Rs 14,633.52 million..." it said.</p>.<p>The company is reportedly in discussions with Tata Group for a potential stake sale. BigBasket, however, has not commented on the matter so far. </p>
<p>Supermarket Grocery Supplies (SGS), which operates e-grocery platform BigBasket, has seen its consolidated losses widen to Rs 611 crore, even as revenue from operations increased 37.7 per cent to Rs 3,794.1 crore in FY20.</p>.<p>As per regulatory documents filed with the Corporate Affairs Ministry, SGS had registered a loss of Rs 572.1 crore and revenue of Rs 2,754.1 crore in FY19 on a consolidated basis.</p>.<p>Its consolidated total expenses swelled by over 31 per cent to Rs 4,433 crore in FY20 from Rs 3,376.3 crore in FY19, documents sourced by business intelligence platform Tofler said.</p>.<p>Emails sent to the company did not elicit any response.</p>.<p>BigBasket competes with the likes of Grofers, JioMart, Amazon, Flipkart and others in the e-grocery space.</p>.<p>"The company has been incurring significant losses over the years and has raised equity from shareholders to fund its operations," the document said.</p>.<p>Subsequent to the year-end, the company raised Rs 393.5 crore from certain investors, along with its existing working capital level at the year-end, SGS believes it will be able to fund its operations for the next year, the document added.</p>.<p>"As of March 31, 2020, the company had a working capital of Rs 14,633.52 million..." it said.</p>.<p>The company is reportedly in discussions with Tata Group for a potential stake sale. BigBasket, however, has not commented on the matter so far. </p>