South Africa, June 26 -- Technology investor Naspers said that Takealot Group's revenue rose by 15% in local currency to $872m for the fiscal year ending 31 March. Despite this growth, the group posted an adjusted EBIT (earnings before interest and taxes) loss of $13m.

Takealot.com, the group's general merchandise e-commerce platform and Amazon's direct competitor, saw its gross merchandise value (GMV) increase by 13%, with revenue climbing 17% and order volumes up by 15%.

Takealot also owns on-demand platform Mr D, which offers restaurants, groceries and other shops.

"I think their (Takealot) performance in the last year was ahead of our expectations, actually," Prosus and Naspers Group chief financial officer, Nico Marais told Reuter...