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Blinkit loss jumps 17% in 2022-23 even as sales rise

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Tofler said the company incurred Rs 1,939 crore in total expenses for the fiscal year 2022-23

Quick-commerce platform Blink Commerce Private Ltd reported a 17% jump in net losses to Rs 1,191 crore for the fiscal year 2022-23 compared to a year ago.

Blinkit’s losses mount even as the Gurugram-based e-commerce platform’s revenue for the fiscal year increased by a robust 208 % to Rs 748 crore, according to Registrar of Companies (RoC) data accessed by business intelligence firm Tofler.

Tofler said the company incurred Rs 1,939 crore in total expenses for the fiscal year 2022-23.

Blinkit – formerly known as Grofers – was acquired by Zomato in 2022 for Rs4,447 crore in an all-stock deal.

Blinkit was earlier backed by SoftBank Group and is among the companies including Zepto, Swiggy, Dunzo and BigBasket are currently transforming India’s delivery with lightning speed shipment of daily grocery and electronic items within 10-30 minutes.

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