Dunzo Sees Losses Double In FY20 Despite Major Revenue Gains
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India, Jan. 14 -- Bengaluru-based hyperlocal startup Dunzo has posted a near 10x growth in overall income from INR 3.5 Cr to INR 32.3 Cr, but its losses also rose sharply to reach INR 338.3 Cr in the year, as per the company's latest financials. That represents an over 2x rise in losses compared to FY2019, when the company had reported INR 168.9 Cr in losses.
In the fiscal year 2020, ended March 31, 2020, Dunzo spent over INR 359.49 Cr, which is more than double of FY19's INR 168.8 Cr in expenses. Its spending for deliveries was the single largest cost centre, accounting for nearly a third of the total expenditure in the fiscal - growing 98.5% from FY19 to reach INR 116.4 Cr.
On the income side, the company posted 35X growth in revenue ...
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