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Licious gets a reality check: Rs 500 Cr loss, flat revenue in FY23

Entrackr · 1y

D2C meat and seafood firm Licious has reported flat revenue growth and a loss of Rs 500 crore in FY23, despite raising $150 million in funding. The company's operating income grew by only 9.6% to Rs 747.7 crore, falling short of its projected revenue. Cost of procurement formed almost half of Licious' expenditure, while employee benefits, advertising, and other operating costs also contributed. The company's EBITDA margin was -55.45%, and its founders claim they are not planning to fundraise further at this time.