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Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler.
The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal.
Zepto co-founder Aadit Palicha took to LinkedIn to share the results.
"Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote.
Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future.
"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO.  This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that 

The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal

State-owned insurer Life Insurance Corp of India (LIC) has pared its stake in iron-ore producer NMDC Ltd by 2 per cent, according to an exchange filing.
After the stake sale, LIC's holding in the state-run iron ore mining company NMDC has dropped to 5.6 per cent from 7.6 per cent earlier.
The insurer sold more than 5.91 crore shares or 2 per cent stake in NMDC through a series of market sales over a period spanning from September 2023 to December 2024, LIC said in a regulatory filing on Friday.
LIC's holding in NMDC's equity shares carrying voting rights decreased from 22,31,79,025 shares, representing 7.6 per cent of the total voting capital, to 16,40,59,791 shares, accounting for 5.6 per cent, it added.
Last month, LIC said it has sold more than 2.02 per cent stake in Tata Power for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent.
Shares of NMDC on Friday fell 2.91 per cent to close at Rs 233.70 apiece on the BSE.

The insurer sold more than 5.91 crore shares or 2 per cent stake in NMDC through a series of market sales over a period spanning from September 2023 to December 2024, LIC said in a regulatory filing

Apple is one of Broadcom's biggest customers, accounting for roughly 20 per cent of revenue

Big Tech's push to diversify beyond Nvidia's pricey and supply-constrained AI processors has been a windfall for Broadcom, which makes custom chips for major cloud companies

According to sources, Prime Minister Narendra Modi will chair the conference on Saturday and Sunday, and is expected to address states' top officials

Rumours of a leak of question paper of the Bihar Public Service Commission (BPSC) preliminary examination erupted at an examination centre on Friday, prompting the commission to warn of police action against those involved in the "conspiracy".
Around 300-400 aspirants boycotted BPSC's 70th Integrated Combined Competitive Examination (CCE) 2024 held at Bapu Examination Centre at Kumhrar in Patna alleging the question paper was leaked even before the examination started.
BPSC chairman Parmar Ravi Manubhai said that examinations were held in a free and fair manner in more than 900 centres, where close to five lakh candidates appeared on Friday.
"The BPSC CCE 70th preliminary examination was held in a single shift from noon to 2 pm. The examination was held in 912 centres across the state, and of those, free and fair exams were held in 911 centres," Parmar told PTI.
"However, in one centre in Patna, some of the candidates snatched questions papers from the invigilators and stormed out

BPSC chairman Parmar Ravi Manubhai said that examinations were held in a free and fair manner in more than 900 centres, where close to five lakh candidates appeared on Friday

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

Call for reining in food inflation and raising investment in pre-Budget  talks

Russia-Ukraine War

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Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Motorola Edge 50 Pro | Unboxing and Hands-on | Purple colour variant

Motorola Edge 50 Pro | Unboxing and Hands-on | Purple colour variant

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