Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit

Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit

Indian food delivery startup Foodpanda has reported its latest revenue figures FY 16-17 which reflect a 64 percent jump in the revenue over the last years.

The food-delivery company earned Rs. 62.16 crores in FY 16-17 compared to Rs. 37.81 crores in FY 15-16 owing to strong order growth in key markets.

Wrapping up a strong year for the brand, foodpanda India also registered an impactful 69 percent dip in losses at Rs. 44.81 crores from Rs. 142.64 crores in FY15-16.

The company has been running profitable since 2015 and is still investing in its tech and services to strengthen its services across the country.

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Foodpanda has also recently forayed into third party delivery logistics- Dash, and  food recommendation and discovery through the revamped India app. Foodpanda also brought Shahrukh Khan as its face this year.

“The growth that we are seeing year on year is only encouraging us to push the boundaries further in a profitable fashion. We are rigorously moving towards strengthening our technology and delivery services in cognizance of the $50 Billion worth of food services industry in the country,” said co-founder and CEO foodpanda India, Saurabh Kochhar.

Adding to this, Saurabh said that the company is making the food ordering experience seamless, personalised and intuitive.

“We are working on both sides- partner restaurants and the end users to create an impact in the food tech industry,” added Kochhar.



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