India, March 3 -- Gurugram-based Hector Beverages, which runs beverage and snack brand Paper Boat, has reported a 20% increase in revenue in the financial year 2020 that ended in March last year. The company's revenue grew from INR 195 Cr in FY2019 to INR 235 Cr in FY20, but the higher spending on new product launches, stock-in-trade resulted in losses widening 60% from INR 60 Cr to over INR 100 Cr.

For Paper Boat, revenue from operations continued to be the major source of income. It earned INR 235 Cr in FY2020 by selling fruit-based drinks and traditional snacks, compared to INR 189.5 in FY 2019. Pretty much the entire revenue growth in the year has been from sales, which indicates just how deep the Paper Boat brand has penetrated in t...