The company saw its advertising promotional expenses grow more than two-fold for 2022-2023
Innovative Retail Concepts Private Limited, which operates under the name of Big Basket, saw its advertising promotional expenses more than double rise for the financial year 2022-23. It stood at Rs 384 crore, compared to previous year’s Rs 184 crore.
Its revenue for 2022-23 stands at Rs 7,462 crore.
The company derives revenue from advertisements hosted on its mobile based application and website.
Innovative Retail’s total expenses for the fiscal were reported as Rs 8,998 crore, according to data sourced by Tofler.
The company also reported 89% increase in net loss during the same fiscal because of increase in operating expenses like transportation expenses, advertisement and marketing expenses and technology charges.
