Licious sees losses narrow 38%, revenues advance 9.5%

Omnichannel meat retailer Licious saw its losses for the financial year ended March 31, 2023, narrow by about 38% to Rs 528.6 crore from Rs 855.7 crore a year ago. Revenues grew 9.5% to Rs 747.8 crore from Rs 682.6 crore a year earlier, on a consolidated basis, according to documents sourced from business intelligence platform Tofler.

Last September, the firm had reportedly projected that its FY23 revenues would hit Rs 1,500 crore, roughly double of what it had reported a year earlier. The projection had come roughly six months after it raised $150 million in a funding round led by Singapore-based Amansa Capital, where existing investors, including Temasek and 3One4 Capital, also participated. The fundraise had valued the firm at well over $1 billion, according to data from Tracxn.