Zepto’s losses widen 177 pc in FY25 to Rs 3,367.3 crore

December 26, 2025

Mumbai: Quick commerce company Zepto reported strong sales growth in the financial year 2024–25 (FY25), but its losses also saw a significant jump. According to audited financial results, the company’s total sales increased from ₹4,223.9 crore to ₹9,668.8 crore—a 129% increase. Meanwhile, net losses widened 177% YoY to ₹3,367.3 crore, compared to ₹1,214.7 crore in FY24. Losses in FY25 represented 35% of the company’s turnover, compared to 29% the previous year.

Increased Expenses Due to Expansion and Competition

The widening losses indicate significant spending on expanding dark stores, increasing delivery capacity, and attracting customers amid intensifying market competition. This aggressive expansion continued in the first two quarters of FY26, further pressuring margins.

Pre-IPO Profit Pressure

Since revenue is typically only 15–20% of GMV in the instant commerce sector, Zepto’s actual operating revenue is estimated to be between ₹1,495–1,994 crore in FY25, despite the reported total sales of approximately ₹10,000 crore.

This financial performance comes as Zepto prepares to confidentially file its IPO (draft) on December 26th.

The company has also made changes at the board level—founders Adit Palicha, Kaivalya Vohra, and CFO Ramesh Bafna have been appointed as Whole-time Directors following shareholder approval.