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Pepperfry aims to become profitable within next 2 years

Devdiscourse News Desk mumbai India
Updated: 10-10-2018 19:36 IST

Online furniture and home products marketplace Pepperfry, owned and operated by TrendSutra Group of Companies, is looking at becoming profitable in the next four to six quarters, a senior official said.

The unlisted company Wednesday said it has narrowed its losses to Rs 169.26 crore in FY18, from Rs 248.5 crore in FY17, while its revenues rose 20 per cent to Rs 308.46 crore in FY18, from Rs 257.96 crore in FY17.

The company also reduced its underlying EBITDA loss by 42 per cent year-on-year to Rs 138.94 crore.

"Our revenue growth is in line with the country's e-commerce sector, which is the fastest growing globally. The gap in our losses has been narrowing every successive financial year, and we are looking to be profitable in the next four to six quarters," Neelesh Talathi, the chief financial officer of Pepperfy, told PTI.

He indicated that the marketplace model has been successful for the company, and it is also going to focus on its own private brands.

"We have over 10 private brands, which are doing well. Also, our modular segment, for kitchens and wardrobes, has been growing at 100 per cent since its launch 18 months ago," he said.

The company, which has 28 experience stores across the country at present, is looking at focusing more on smaller centres.

"We are aggressively expanding our experience stores under the name 'Studio Pepperfry' in smaller cities. We are doubling the number and will end this financial year with nearly 50 stores," he said.

Pepperfry is also looking at launching interior design services going forward, according to Talathi.

When asked about the expected initial public offering, Talathi did not provide a timeline but said the company is focusing on becoming profitable soon.

(With inputs from agencies.)