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Jabong posts Rs 293.4 Cr loss in FY14; Net revenue up 3x to Rs 438.6 Cr

Rocket Internet-backed online fashion store Jabong posted a net loss of Rs 293.4 crore for the financial year ended March 31, 2014 (FY14), a modest improvement from Rs 318.7 crore loss in the previous year. The gross loss i.e. the net revenue minus sales cost declined to Rs 44.7 crore for the fiscal from Rs 37.8 crore loss in the previous fiscal. However, in terms of percentage of net revenues, it improved from negative 26% to negative 10%. Jabong attributed this to an increase in the share of its private label sales, along with an increase in scale and more efficient pricing by partners. Net revenues: The net revenues for the company saw a three-fold increase to Rs 438.6 crore for FY14, up from Rs 143.3 crore revenues in FY13. Jabong attributed this growth to an increase in its product portfolio, exclusive…

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