Zepto reduced its absolute losses, with PAT as a percentage of revenue improving significantly from -63% in FY23 to -28% in FY24.
New Delhi: Quick commerce platform Zepto has announced key highlights from its audited financial year (FY) 24 financial statement, showcasing impressive revenue growth and operational progress, its CEO Aadit Palicha wrote in a LinkedIn post.
Accounting revenue surged 120% year-on-year from Rs 2,025 Crores in financial year (FY) 23 to Rs 4,454 Crores in FY24. In addition, Zepto reduced its absolute losses, with PAT as a percentage of revenue improving significantly from -63% in FY23 to -28% in FY24.
“This success reflects the governance-focused culture we’ve built at Zepto and our early investments in controllership excellence. Our finance team deserves tremendous credit for achieving this milestone,” wrote Palicha.
Zepto also achieved a significant milestone by completing a full statutory audit conducted by a Big 4 firm, with no financial qualifications and a clean CARO report. As a three-year-old startup, this rare feat underscores Zepto’s commitment to governance excellence. Key initiatives such as SAP FICO integration, automated revenue-to-cash reconciliation, and the implementation of an H2H payment system contributed to this success. The company’s finance team, led by CFO Ramesh Bafna and Chief Controller Sandip Khetawat, played a critical role in ensuring robust financial management.
This financial achievement comes after Zepto’s successful $350 million fundraising round, led exclusively by Motilal Oswal’s Private Wealth division. The company described the round as the largest 100% domestic fundraising within India’s startup ecosystem, involving Indian HNIs, family offices, and leading financial institutions.
Zepto, founded in 2021 by Aadit Palicha and Kaivalya Vohra, continues to expand rapidly. The platform delivers over 25,000 products across various categories through its extensive network of delivery hubs.
The company has also introduced new services, including the launch of Zepto Café, which aims to achieve a revenue run rate of Rs 1,000 crore by 2026. Zepto Café, operating through over 120 stores in Mumbai, Delhi, Bengaluru, and other major cities, further solidifies the company’s presence in the quick commerce space.
