BigBasket's FY20 revenue jumps 36% to Rs 3,818 crore

Online grocery delivery company BigBasket has reported a 36 per cent year-on-year (YoY) increase in its revenue at Rs 3,818 for the financial year ended March 31, 2020.

The company's expenses rose 31 per cent YoY to Rs 4,411 crore in FY20, The Economic Times reported, quoting documents sourced from business intelligence platform Tofler.

Also read: Tata Group eyes 60% stake in BigBasket; set to pump in $250 million initially

Its losses also zoomed 26 per cent to Rs 710 crore during the year.

The company's operations were disrupted due to a nationwide lockdown imposed in March last year to curb the spread of coronavirus infections. However, the lockdown also helped the company double its business from pre-COVID levels.

BigBasket CEO and co-founder Hari Menon recently said the company would like to go public in the coming years.

As per reports, Tata Group is in the final stages of discussions to acquire around a 60 per cent stake in BigBasket by shelling out approx. $1.3 billion.

Also read: Data breach at BigBasket; personal info of over 2 crore users up on dark web for sale