Pepperfrys business witnessed strong growth momentum through the pandemic and the company is on track to achieve profitability, CFO Neelesh Talathi says.
After a year when its loss increased 72% year-on-year (YoY) to INR 183.49 Cr, Pepperfry managed to turn the tide, rein in the expenses and cut losses by 33% to a little over INR 122 Cr.
A chief factor for Pepperfry’s better financial performance was the increase in revenue by 26% YoY to INR 260.61 Cr. Moreover, expenses fell, albeit marginally, by 1.79% to INR 383 Cr.
Of the company’s total revenue, INR 246 Cr was operational revenue, of which, INR 245,88 Cr was from the sale of services, while INR 0.15 Cr was license fees.
For Pepperfry, revenue from operations comprises commission from suppliers of furniture and other products sold through its ecommerce site and app. The company has a contractual arrangement with many of the suppliers. In addition to over 10K sellers, the company has 10 private label brands including Woodsworth, Mintwud, Casacraft, Amberville, Bohemiana, Mudramark, Mollycoddle, Clouddio, Primorati and Mangiamo.
Antler to deploy $100 million in Indian startups
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With the $100 million fund, it plans to back 150 Indian startups over the next four years
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BENGALURU: Global early-stage venture capital (VC) fund Antler plans to invest more than $100 million across Indian technology startups in the next four years, it said on Wednesday.
The fund has appointed seasoned investor Nitin Sharma as partner and co-lead for its India operations. Sharma had founded FirstPrinciples VC in 2018, which has invested in more than 35 startups including Fynd, which has been acquired by Reliance Jio, and Niki, backed by Ratan Tata. Fynd provides omnichannel, online-to-offline platform to fashion retailers and Niki is an artificial intelligence company headquartered in Bengaluru.
Updated Dec 28, 2020 | 09:57 IST
The one thing that differentiates Ratan Tata from other industrialists is his values. He gives top priority to kindness and empathy while conducting business. Representational image
New Delhi: Tata Sons Chairman Emeritus Ratan Tata turned 83 today (December 28, 2020). Ratan Tata is one of the most successful businessmen in the country. The one thing that differentiates Ratan Tata from other industrialists is his values. He gives top priority to kindness and empathy while conducting business. Here are few interesting facts you need to know about Ratan Tata.
1) Ratan Tata was born on 1937 in Surat, Gujurat. His father s name was Naval Tata while Sooni Tata was his mother. Naval Tata was the adopted grandson of Jamsetji Tata, founder of the Tata Group. He started his career with Tata Group in 1962 at the age of 25. He later went to Harvard Business School to complete his studies. He is also an alumnus of the Cornell Univ