 "Rebel Foods Slashes Losses with Notable Revenue Surge in FY24")
Rebel Foods, the parent company of popular cloud kitchen brands like Faasos, Behrouz Biryani, and Oven Story, has reported a significant improvement in its financial performance for the fiscal year 2024. The company narrowed its consolidated loss to Rs 378.21 crore, down from Rs 656.55 crore in the previous year. Revenue from operations grew by 18.8% to reach Rs 1,420.24 crore, contributing to a total income of Rs 1,485.53 crore. Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods is now the largest internet restaurant company globally, with over 450 kitchens in 70 cities and a diverse portfolio of more than 45 brands operating internationally.
Rebel Foods Narrows Losses While Revenue Grows
Rebel Foods, known for its popular cloud kitchen brands like Faasos, Behrouz Biryani, and Oven Story, has announced an impressive financial update. In the fiscal year 2024, the company managed to reduce its consolidated loss to Rs 378.21 crore, a significant improvement from Rs 656.55 crore in the previous year. This positive shift comes amid a notable increase in revenue, which rose by 18.8% to reach Rs 1,420.24 crore.
The financial data, sourced from business intelligence platform Tofler, highlights that Rebel Foods’ total income for FY24 surged to Rs 1,485.53 crore, reflecting an overall growth of 18% compared to the previous fiscal year. While total expenses slightly increased to Rs 1,857.03 crore, the gains in revenue showcase the company’s strong position in the food delivery sector.
Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods has grown to become the world’s largest internet restaurant company, operating over 450 kitchens across 70 cities. The brand portfolio has expanded to include more than 45 unique brands, serving diverse culinary delights in multiple countries.
As Rebel Foods continues to innovate and adapt within the competitive food industry, its latest financial results indicate a promising path toward profitability, making it a key player to watch in the food tech space.
Tags: Rebel Foods, financial report, cloud kitchens, food delivery, revenue growth, business news, FY24 results.
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What does it mean that Rebel Foods’ loss narrowed to Rs 378 crore in FY24?
This means that Rebel Foods lost less money in the financial year 2024 compared to previous years, showing some improvement in their financial situation. -
How much did Rebel Foods’ revenue increase?
Rebel Foods’ revenue increased by 18.8%, which means they earned more money this year compared to last year. -
Why is the reduction in loss important for Rebel Foods?
A smaller loss is important because it shows the company is moving in a better direction, which could attract more investors and help them grow in the future. -
What factors could have contributed to the increase in revenue?
The increase in revenue could be due to more customers ordering food, new menu items, or better Marketing strategies that attracted people to their brand. - What does this result mean for the future of Rebel Foods?
These results suggest that Rebel Foods is improving, which could mean they are on track to become profitable in the future if they continue this trend.
