foodpanda, India’s leading online marketplace for food delivery has reported its latest revenue figures for FY 16-17. Jumping up by 64 per cent in revenues, the company earned Rs 62.16 crore in FY 16-17 compared to Rs 37.81 crore 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 per cent dip in losses at Rs 44.81 crore from Rs 142.64 crore in FY15-16. Running its services at operational profitability since 2015, the brand continues to invest and strengthen its technology and delivery services in the country.
Laying more focus on the per unit economics, foodpanda India registered profits on every order fulfilled in the year. Aimed to be profitable by FY 2019, the brand has been working towards realising its vision to change the way India eats. That includes foraying into third party delivery logistics through Dash, food recommendation and discovery through the revamped India app, bringing Shahrukh Khan as the face of the brand and working on food quality initiatives such as the Food Doctor Program.
Commenting on the same, Co-founder and CEO, foodpanda India, Saurabh Kochhar said, “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 US $50 billion worth of foodservices industry in the country. Keeping customer-centricity at the core, we are making the food ordering experience seamless, personalised and intuitive. Further to that, our delivery services and food quality compliance programs are adding value to how the ordered food reaches our customers. We are working on both sides- partner restaurants and the end users to create an impact in the food tech industry.”
foodpanda India today fulfills ~50 per cent of the orders through their own delivery services and uses a 100 per cent automation in the backend for a seamless experience for the partner restaurants and users alike.