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Foodpanda India revenues increases 64% for FY16-17

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 an undisclosed amount as the food delivery companies decided to consolidate their operations. Note both the companies were housed under Rocket Internet and the two companies had a history of buying each other’s businesses in different countries.

In 2013, Delivery Hero had invested $5 million in Pune based online food ordering startup TastyKhana. One and a half years following this, Foodpanda acquired TastyKhana in November 2014. At this time, Foodpanda also acquired Delivery Hero’s Mexican businesses PedidosYa, SeMeAntoja and Superantojo and Donesi.com in Serbia, Montenegro, Bosnia and Herzegovina, as well as Pauza.hr in Crotia and NetPincer in Hungary to expand its presence in Europe. Meanwhile, Delivery Hero acquired Foodpanda’s affiliate brand Hellofood in Argentina, Chile, Colombia, Ecuador and Peru.

Competition

In September, Zomato said that it has turned profitable throughout the 24 countries it operates and all the business it operates. For the month of July, the company surpassed 3 million online orders, it had announced it in a blogpost. Also, the company had reported food ordering revenues of $9 million for the financial year ended 31st March 2017 (FY17), around 8 times of FY16.

However, Zomato and Foodpanda’s competitor, Swiggy, claimed that they were ahead with  4 million orders per month.

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