"At Grofers, we are pleased with our year-on-year growth trajectory. We have been witnessing surge in revenue, while the operating losses have plummeted. Our GMV (gross merchandise value) has increased by 150 per cent from FY2016-17 to FY2017-18," Grofers founder Saurabh Kumar told PTI.
He added that with these economies of scale combined with robust growth prospects of the business, the company is confident about strengthening this momentum.
In December, Grofers had said it aims to garner USD 2.5 billion (around 17,500 crore) in revenue by 2020 as it scales up its private label offerings in the country and focusses on expanding repeat purchases in its platform.
The company, which has already completed five years of operations, had a revenue run rate of over USD 360 million (about Rs 2,500 crore) around that time.
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