 "Business-to-business ecommerce platform ElasticRun saw its net loss for FY24 almost halve to Rs 359.6 crore. The company had reported a loss of Rs 618.99 crore in FY23.")
Business-to-business e-commerce platform ElasticRun saw its net loss for FY24 almost halve to Rs 359.6 crore from Rs 618.99 crore in reported in FY23.
Revenue for FY24 came in at Rs 2,434.84 crore, down 48.6 per cent year-on-year against 4,738 crore.
Senior management of the firm attributed the march towards profitability to the firm’s pivot to expand its reach with regional, and smaller brands.
The Softbank and Prosus Venture-backed ElasticRun runs distribution for fast-moving consumer goods (FMCG) products in rural areas. It has made several changes to its business over the last two years, including closing down
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