Tata Digital revenue reaches Rs 16,000 crore after acquisitions
- ByStartupStory | October 3, 2022
Tata Digital, a subsidiary of the Tata group that invests in and operates its ecommerce vertical, reported a three-fold leap in consolidated revenue to Rs 15,979 crore in monetary 12 months 2021-22 (FY22) from Rs 5,315 crore within the earlier monetary 12 months (FY21), in accordance to the most recent regulatory filings sourced from enterprise intelligence platform Tofler.The main contributor to the elevated revenue was BigBasket’s dad or mum firm, which added Rs 7,238 crore to the overall revenue.
Losses on the new commerce enterprise widened greater than 5 instances to Rs 3,051 crore in FY22 due to the brand new acquisitions.
The spike in revenue primarily got here from the corporate’s acquisition of a majority stake in e-pharmacy startup 1mg, and Supermarket Grocery Supplies Pvt Ltd, the dad or mum firm of e-grocer BigBasket.
Tata Digital’s consolidated revenue additionally contains companies similar to Croma, Tata Fintech, Tata Technologies and former BigBasket acquisitions like DailyNinja and Savis Retail.
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