Licious Reports 44% Decrease in FY24 Loss to INR 294 Cr

• Licious reported a 44% decrease in loss to INR 293.77 Cr in FY24 from INR 528.5 Cr in FY23.
• However, the startup's revenue also declined by 8.4% to INR 685.05 Cr in FY24 from INR 748 Cr in FY23.
• The decline in revenue was attributed to the closure of sales from Dunzo and Swiggy Meatstore, and reduced exposure to modern trade and local stores.
• Despite this, the company saw a 35% YoY growth in quick commerce deliveries and is now piloting 30-minute meat deliveries in Gurugram.
• Licious is also planning to expand its offline store network, recently acquiring Bengaluru-based retailer My Chicken and More.

Source: Inc42