A lowdown of revenues for FY2017-18: MobiKwik, Uber India, PayPal India, and BigBasket
MobiKwik has reported revenues of Rs 85.6 crore in 2018, up 48% from Rs 44.3 crore in 2017, reports the Economic Times. Its losses swelled to Rs 200 crore, up 51% from Rs 132 crore in 2018 vs 2017. It plans to double its 2018-19 revenues and halve its losses by the end of FY 2019, the company said.
Uber India’s revenue grew to Rs 21.5 crore in FY18, a 20x increase from Rs 1.04 crore in FY17, reports the Economic Times. Uber India saw net profit of Rs 19.6 lakh in this fiscal, compared to Rs 3.22 lakh in FY17. The company said it would continue investing in Uber Eats and the electric vehicles business, and high-potential markets such as India and the Middle East.
PayPal India reported a 12x increase in revenue to Rs 260 crore in FY18, after it began domestic payments in this fiscal, reports the Economic Times. Until November 2017, the company only carried out cross-border transactions. Net profit increased marginally to Rs 2 crore from Rs 1.4 crore. PayPal has reportedly increased its investments across India – it is expanding technology, hiring, and also would have/has a new Mumbai office.
Supermarket Grocery Supplies Pvt Ltd, which operates BigBasket, earned a 34% increase in revenues to Rs 1606 crore in FY18, from Rs 1197 crore in FY17, reports Inc42. BigBasket’s operational revenues contributed 98.5% of the total revenue. Net loss was Rs 310 crore, down by 53% from a net loss of Rs 653 crore in FY17.
- Total expenses: Rs 1916 crore
- Employee benefit expense: Rs 154 crore
- Advertising and promotional expenses: Rs 94.3 crore