SoftBank-backed Grofers’ revenue doubles to Rs 177 cr, loss widens by 42%

SoftBank-backed online grocery firm Grofers reported its revenues for the financial year 2019-20 as Rs 177 crore, a 111 per cent jump since the last financial year. The company further reported a net loss of Rs 637 crore during the same fiscal. This is a 42 per cent increase from the last financial year, show regulatory documents sourced from business intelligence platform Tofler. The company’s total expenses for the fiscal were reported as Rs 814 crore.

The firm entered into an advertisement contract with the supplier and agreed to issue share warrants in part settlement of the services received. These share warrants would be considered as a liability worth Rs 142 crore, according to the documents.