CHENNAI: Online food ordering and delivery platform Foodpanda India has reported its latest revenue figures for FY17, marking a 64 per cent jump in revenues. The food delivery company earned Rs 62.16 crore during the year under review compared to Rs 37.81 crore in FY16 owing to strong order growth in key markets.
While profits remained in the red zone, the company has managed to bring down losses from Rs 142.64 crore in FY16 to Rs 44.81 crore in the year under review. The company aims to be profitable by FY19.
“The growth that we are seeing year-on-year is only encouraging us to push the boundaries further in a profitable fashion. We are rigorously moving towards strengthening our technology and delivery services in cognizance of the $50-billion food services industry in the country,” said Saurabh Kochhar, co-founder and CEO, Foodpanda India.
That would include foraying into third-party delivery logistics through its deliver service Dash, food recommendation and discovery through the revamped India app, bringing Shah Rukh Khan as the face of the brand and working on food quality initiatives such as the Food Doctor Program. “We are working on partner restaurants and the end users to create an impact in the food tech industry,” he added.The company uses 100 per cent automation in the backend. It currently has a network of 15,000 restaurants across 150+ cities.