India’s quick commerce landscape is evolving fast, and Zepto has made it clear it’s not just keeping up—it’s leading the charge. The story of Zepto revenue growth FY24 is a testament to this leadership, with the company achieving a massive milestone by clocking INR 4,454 crore in revenue—a staggering 120% leap from INR 2,026 crore the previous year. This incredible growth reflects not only the rising demand for ultra-fast deliveries but also Zepto’s sharp execution of its 10-minute delivery promise, which has become its defining edge in the market.
Zepto Revenue Growth FY24 – Number That Matters
Zepto’s financial results paint a picture of both ambition and scale. Revenue from product sales formed the bulk of the company’s earnings, contributing INR 3,973 crore, or 89.2% of the total operating revenue. Add to that INR 44 crore from non-operating income, and Zepto’s total income for FY24 touches INR 4,498 crore.
But this growth didn’t come cheap. The company’s expenses shot up by 72%, from INR 3,350 crore in FY23 to INR 5,747 crore in FY24. Procurement of goods alone accounted for INR 3,481 crore—over 60% of total costs. Other significant spending included INR 426 crore on employee costs, a 62% increase, and INR 493 crore on warehousing. Delivery operations? Another INR 580 crore.
Still, there’s a silver lining. Zepto managed to trim its net loss slightly, from INR 1,272 crore in FY23 to INR 1,249 crore in FY24—a 2% dip. More impressively, its loss-to-revenue ratio fell sharply from 63% to 28%, signalling better operational efficiency.
What’s Fueling Zepto’s Financial Results
What’s behind this meteoric rise? For one, Zepto isn’t shy about investing where it matters. The company has rapidly expanded its dark store network, which now stands at over 550 locations. These micro-warehouses are the backbone of Zepto’s ability to fulfil more than 7,00,000 orders daily, meeting consumer demand head-on.
Then there’s the funding. In 2024 alone, Zepto raised USD 1.35 billion across multiple rounds, pushing its total funding to a hefty USD 1.85 billion. This injection of capital has fueled advancements in technology, aggressive marketing, and network expansion—all key levers for growth.
But Zepto’s ambitions don’t stop there. The leadership has hinted at an IPO as early as 2025, a move that could provide even more momentum. With the kind of trajectory Zepto is on, an IPO seems less like a question of “if” and more of “when.”
Battling It Out in a Crowded Market
India’s quick commerce sector is nothing short of a battleground and after seeing Zepto’s financial results, the company appears to be leading the charge. Zepto has carved out an impressive 29% market share, placing it second behind Blinkit (46%) and ahead of Swiggy Instamart (25%). In sheer numbers, though, Zepto is outpacing the competition. Its INR 4,454 crore revenue in FY24 dwarfs Blinkit’s INR 2,301 crore and Swiggy Instamart’s INR 1,100 crore.
This isn’t just about being bigger—it’s about being better. Zepto’s sharp focus on operational efficiency and consistent service has struck a chord with India’s convenience-hungry consumers, giving it a strong foothold in a fiercely competitive space.
Future Plans
Zepto’s CEO, Aadit Palicha, has laid out a clear vision: profitability by FY26. And it’s not just lip service. The company is doubling down on investments in technology and exploring new avenues, like its upcoming standalone app for Zepto Cafe, aimed at capturing a slice of the food delivery market.
The road ahead won’t be easy, but Zepto seems more than prepared to face the challenges. FY24’s numbers reflect a company that is not just growing but evolving—optimizing operations, expanding strategically, and staying nimble in a dynamic market.
Key Highlights of Zepto’s Financial Results
- Revenue Surge: Zepto doubled its revenue in FY24, hitting INR 4,454 crore.
- Smarter Loss Management: Despite higher expenses, the loss-to-revenue ratio dropped from 63% to 28%.
- Strategic Investments: Dark stores, tech upgrades, and aggressive marketing are driving growth.
- IPO on the Horizon: A potential 2025 IPO could add another layer of momentum.
- Market Position: Zepto holds a strong 29% share in India’s quick commerce market.
Zepto’s FY24 journey is a masterclass in scaling with purpose. From eye-popping revenue numbers to improved operational efficiency, the company has set a high bar for what’s possible in India’s quick commerce space. Now, with an IPO in its sights and a clear path to profitability, Zepto is rewriting the rules of the game—one 10-minute delivery at a time. For more information related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
