BENGALURU: The wholesale arm of online grocer BigBasket more than doubled its turnover to Rs 1,176 crore in FY17 from Rs 563 crore in the last fiscal, as per documents with the Ministry of Corporate Affairs sourced through datatracking platform Tofler BigBasket has two registered operating entities. Supermarket Grocery Supplies is the B2B entity which sources products and sells it to Innovative Retail, which runs the online grocery portal. This is probably why Innovative Retail’s revenues almost align with the other entity’s. Innovative Retail also reported doubling of revenues from Rs 527 crore in FY16 to Rs 1,090 crore in FY17. Menon had said last month that BigBasket is at a Rs 200 crore monthly gross merchandise value run rate, which he expects will surge to Rs 300 crore by August and ?500 crore by March 2019.

Source: Economic Times March 29, 2018 03:56 UTC