Foodpanda has reported revenues of Rs 37.81 crore for financial year 2015-16, up 704.4% from Rs 4.7 crore in 2014-15. The online food delivery company attributes this to order growth in key markets (unnamed) and increase in the commission it charges. It also reported losses of Rs 142.6 crore for 2015-16, increasing from Rs 36 crore in 2014-15.
Foodpanda claims that it hit operational profitability (on the marketplace and delivery) since February 2015. It plans to achieve 100% automation and turn profitable by 2019-20. At the start of this year, the company had laid off 15% of its staff to become ‘sustainable and profitable.’ At the time, it claimed to reduce manual intervention and hit 98% automation rate in order processing.
Spike in orders during demonetisation
The company experienced an incremental growth in the number of orders fulfilled by its own delivery services. As of now, Foodpanda delivers 40% of the orders while the remaining 60% are delivered by the restaurants. This is up from the 25% of orders it delivered in December last year. During the demonetisation phase, Foodpanda saw a 40-50% spike in orders.
Note that earlier this year, Foodpanda started delivering food in 45 minutes and promised a refund if the delivery was unsuccessful in that time frame. This was dubbed “Express Guarantee” and was limited to restaurants which had exclusively tied up with Foodpanda.
Globally, Foodpanda reported revenues of $13.15 million in Q2 2016, up by 64.8% YOY from $7.98 million in Q2 2015. In the same quarter, the company delivered 7.6 million orders, up 66.1% YOY from 4.5 million orders in Q2 2015.
Foodpanda Hygiene rating in India
In August, Foodpanda started displaying a ‘Hygiene rating’ for all restaurants on its platform in India. The company would also conduct audits of restaurants to check on their cleanliness, hygiene etc., assigning restaurants in 3 tiers based on these metrics.
In the same financial year, Swiggy made Rs 23.59 crore in revenues, expenses were 70% up to Rs 160 crore and losses were at Rs 137 crore, up from Rs 2.12 crore in 2014-15.