Snapdeal narrows consolidated loss to Rs 282.2 crore in FY’23

Snapdeal’s consolidated loss after tax narrowed to Rs 282.2 crore in FY23 from Rs 510 crore in the previous year, according to a statutory filing.

The e-commerce company’s adjusted EBITDA loss reduced to Rs 144 crore in FY2022-23 from Rs 419 crore in FY20210-22 as it focused on profitability and long-term sustainability of the business..

The company’s revenues also decreased to Rs 388 crore in FY2022-23 from Rs 564 crore in FY2021-22.

In the past fiscal year, Snapdeal focused on the value segment besides remaining committed to achieve profits.It also enhanced its operations by improving selection and delivery experiences, and optimising cost and minimising returns.