Avenue E-Commerce losses widen, revenue surges past Rs 2,000 crore

Avenue E-Commerce, a subsidiary of Avenue Supermarts, saw its losses widen, even as its revenue was up by 32.1 per cent in FY23, the company that runs supermarkets and hypermarkets under the brand name DMart, said in its annual report.

The multi-channel grocery retail arm of Avenue Supermarts, which also has pick-up counters closer to its customers, reported losses at Rs 193.70 crore in FY23, compared to a loss of Rs 142.07 crore in FY22.

Its revenue in the previous financial year stood at Rs 2,202.03 compared to Rs 1,667.21 crore in FY22. The multi-retail subsidiary completed six years of service in the e-commerce space in January 2023.