In view of the rise in losses and expenses, it makes all the more sense for the 12-year-old cloud kitchen startup to go offline.
This week, Rebel Foods filed its financial statement for the 2022-23 financial year. The cloud kitchen company, which runs popular brands like Faasos and Behrouz Biryani, posted a loss of Rs 656.5 crore during the period, as against Rs 534.2 crore in the previous fiscal. While it saw a 39% increase in revenue to Rs 1,195 crore, its expenditure also rose 28% year on year to Rs 1,827 crore.
Clearly, the numbers aren’t great, especially the rising costs. But they do tell an interesting story when set against everything that the company has been doing in recent months. The 12-year-old …
Anuj covered all things startups and venture capital at The Morning Context. Previously, he worked at VCCircle, where he covered healthcare and private equity. Anuj studied mass communication at the Manipal Institute of Communication and before journalism, he operated a bar in Udupi.
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