foodpanda, the online marketplace for food delivery today reported its latest revenue figures for FY 16-17. Jumping up by 64% in revenues, the company earned INR 62.16 crores in FY 16-17 compared to INR 37.81 crores in FY 15-16 owing to strong order growth in key markets. Wrapping up a strong year for the brand, foodpanda India also registered an impactful 69% dip in losses at INR 44.81 crores from INR 142.64 crores in FY15-16. Running its services at operational profitability since 2015, the brand continues to invest and strengthen its technology and delivery services in the country.
Laying more focus on the per unit economics, foodpanda India registered profits on every order fulfilled in the year. Aimed to be profitable by FY 2019, the brand has been working towards realizing its vision to change the way India eats. That includes foraying into third party delivery logistics through Dash, food recommendation & discovery through the revamped India app, bringing Shahrukh Khan as the face of the brand and working on food quality initiatives such as the Food Doctor Program.
Commenting on the same, Saurabh Kochhar, Co-founder & CEO, foodpanda India said, “The growth that we are seeing year on year is only encouraging us to push the boundaries further in a profitable fashion. We are rigorously moving towards strengthening our technology and delivery services in cognizance of the USD 50 Billion worth of food services industry in the country. Keeping customer centricity at the core, we are making the food ordering experience seamless, personalized and intuitive. Further to that, our delivery services and food quality compliance programs are adding value to how the ordered food reaches our customers. We are working on both sides- partner restaurants and the end users to create an impact in the food tech industry.”
foodpanda India today fulfills ~50% of the orders through their own delivery services and uses a 100% automation in the backend for a seamless experience for the partner restaurants and users alike.