Faasos’ losses increase 75% YoY to ₹130 crore in FY19

Bengaluru: Rebel Foods, the cloud kitchen startup that operates the Faasos brand has reported a 75% rise in losses to ₹130.6 crore in the fiscal ended March 2019 as expenses increased two-fold during the year, according to documents sourced from business information platform Paper.vc

In the previous financial year, Rebel Foods, which owns brands such as Faasos, Slay Coffee, Behrouz Biriyani, Oven Story and others, reported losses of ₹74.4 crore.

In FY19, the company spent around ₹441 crore in total expenses to generate operational revenues of ₹305.1 crore, which increased two-fold from ₹147 crore revenues reported in the previous financial year. Rebel Foods’ total expenses also increased two-fold in FY19 from around ₹223.5 crore in FY18.