Pepperfry’s operating revenues increase 10% in FY’23: Tofler
The operating revenues of home goods, accessories, and furniture business Pepperfry increased by 10 per cent Y-o-Y to Rs 272.3 crore in FY’23, as per a report by business intelligence platform Tofler. The company had reported operating revenues of Rs 246.9 crore in FY’22.
Net losses of the Mumbai-based online business decreased slightly to Rs 187.6 crore in FY’23 as compared to Rs 194 crore in FY’22. The reduction was a result of Pepperfry’s expenses rising at a slower pace of 3.5 per cent Y-o-Y, compared to its top-line.
Pepperfry’s warehousing and logistics expenses also reduced to Rs 87.4 crore in FY’23 compared to Rs 89.3 crore in the FY’22 financial year. Its advertising and promotional expenses reduced by 10 per cent Y-o-Y to Rs 106 crore.
Pepperfry’s expenses increased to Rs 474.1 crore during the year as its finance costs, depreciation expenses and expenses towards employee benefits increased..
