Foodpanda India has reported revenues of Rs 62.16 crore for the financial year 2016-2017 (FY 16-17) an increase of 64% from Rs 37.81 crore. Meanwhile, Foodpanda India said that it is working to reduce its losses. For FY16-17, registered a loss of Rs 44.81 crore compared to Rs 142.64 crore in the same year last year. Meanwhile, the company says that it fulfills around 50% of the orders through their own delivery services and uses 100% automation in the back-end. In January 2016, 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.The company said that it will be profitable by FY2019 and said that it hit operational profitability (on the marketplace and delivery) since February 2015. In December 2016, Delivery Hero finally acquired Foodpanda for…
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