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Havish
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Snapdeal is now almost profitable! So Snapdeal recently released its financials, and theyโve killed it! Their cost-reduction measures have led to their EBITDA loss dropping to just โน16 crore in FY24, down from โน144 crore in FY23. While their revenue only just a 2% increase to โน379 crore, the overall performance is still commendable. Snapdealโs primary revenue streams include marketing services, e-commerce enablement, and other ancillary sources. Marketing services remain the largest contributor, generating โน252.55 crore in revenue. The cost reductions were primarily driven by two factors: 1. A 48% reduction in employee benefits, saving โน159 crore. 2. A 23% decrease in advertising expenses, bringing the total down to โน76 crore. Although the overall net loss saw a 43% reduction, reaching โน160 crore, its still almost cash flow positive. They are also planning an IPO, by the way! Ig, Kunal Bhal'a debut in Shark Tank had a great impact on the company! what do you think?
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