NEW DELHI: Foodpanda has reported revenues of Rs 37.81 crore for financial year 2015-16, up 704.4% from Rs 4.7 crore in 2014-15. The online food delivery company attributes this to order growth in key markets (unnamed) and increase in the commission it charges. It also reported losses of Rs 142.6 crore for 2015-16, increasing from Rs 36 crore in 2014-15.
Foodpanda claims that it hit operational profitability (on the marketplace and delivery) since February 2015. It plans to achieve 100% automation and turn profitable by 2019-20. At the start of this year, the company had laid off 15% of its staff to become ‘sustainable and profitable.’ At the time, it claimed to reduce manual intervention and hit 98% automation rate in order processing.
