<p>New Delhi: Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler.</p>.<p>The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal.</p>.<p>Zepto co-founder Aadit Palicha took to LinkedIn to share the results.</p>.<p>"Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote.</p>.<p>Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future.</p>.<p>"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. “This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that prioritized controllership excellence (like SAP FICO integration, automated revenue-to-cash reconciliation, set up of an H2H payment system, etc)," he said.</p>.<p>Earlier this month, Palicha in an interview with PTI exuded optimism about a possible IPO in 2025.</p>.<p>"We're willing to commit that within the next financial year, sometime in FY26 we will become a full Indian-owned company... that's our ambition and objective, and it looks quite likely that we're going to get there...So what I can tell you is that we will be a domestic company within the next financial year" he had said.</p>.<p>Palicha added that Zepto plans to expand its operations to more than 50 cities by the next quarter.</p>.<p>"In the next financial year, we will be PAT positive. We are quite confident and that hopefully will be a positive signal to the markets," he had said. </p>
<p>New Delhi: Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler.</p>.<p>The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal.</p>.<p>Zepto co-founder Aadit Palicha took to LinkedIn to share the results.</p>.<p>"Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote.</p>.<p>Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future.</p>.<p>"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. “This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that prioritized controllership excellence (like SAP FICO integration, automated revenue-to-cash reconciliation, set up of an H2H payment system, etc)," he said.</p>.<p>Earlier this month, Palicha in an interview with PTI exuded optimism about a possible IPO in 2025.</p>.<p>"We're willing to commit that within the next financial year, sometime in FY26 we will become a full Indian-owned company... that's our ambition and objective, and it looks quite likely that we're going to get there...So what I can tell you is that we will be a domestic company within the next financial year" he had said.</p>.<p>Palicha added that Zepto plans to expand its operations to more than 50 cities by the next quarter.</p>.<p>"In the next financial year, we will be PAT positive. We are quite confident and that hopefully will be a positive signal to the markets," he had said. </p>