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Country Delight Experiences Revenue Growth but Higher FY22 Losses
source link: https://nextbigwhat.com/country-delight-experiences-revenue-growth-but-higher-fy22-losses/
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Country Delight Experiences Revenue Growth but Higher FY22 Losses
- Country Delight’s annual revenue rose 69.2% to hit Rs 543 crore ($72.7 million) in FY22, however, its losses soared 6.6 times higher.
- Major expenses included procurement (49.3% of total), advertising (Rs 125 crore) and employee benefits (Rs 67 crore); raising total expenditures to Rs 734 crore, contributing to losses.
- In spite of rising competition and high operating costs, the firm raised $108 million in Series D funding in May 2022 for product range expansion and reported its revenue crossed Rs 1,000 crore in FY23.
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