Zepto Co-Founder Aadit Palicha shared that Zepto has reduced its EBITDA and OCF burn by 50 per cent
New Delhi: Quick commerce major Zepto is approaching $4 billion in annualised gross order value (GOV), company Co-Founder and CEO Aadit Palicha has said.
In January, Palicha shared that Zepto has achieved $3 billion in annualised GOV.
Palicha took to LinkedIn to share that Zepto has reduced its earnings before interest, taxes, depreciation, and amortisation (EBITDA) and OCF (operating cash flow) burn by 50 per cent.
“Zepto is getting close to $4B in Annualised GOV, which represents around 300 per cent year-on-year growth (and around 30 per cent growth since my last update in January).
“We are confident in being within touching distance of EBITDA (excl. ESOPs) and OCF breakeven within a few months (with a large net cash buffer still on Balance Sheet). Our newly launched dark stores continue to track towards EBITDA breakeven, just as the dark stores we launched over the last 3 years did in our previous store expansion cycles,” he wrote.
GOV here consists of fruits and vegetables at selling price and includes ancillary sources of income like subscription fees and ads, Palicha noted.
IPO-headed Zepto marginally brought down its losses to Rs 1,248.6 crore in 2023-24, from Rs 1,272.4 crore in 2022-23, as per data shared by Tofler. It posted a revenue of Rs 4,454 crore in FY24, a more than two-fold increase from Rs 2,025 crore in the previous fiscal.
