Udaan arm net loss narrows to Rs 666 crore in FY24

16 hours ago 1

B2B e-commerce level Udaan's online marketplace vertical Hiveloop Technology Private Limited has reported a narrowing of its nonaccomplishment to Rs 666 crore successful 2023-24, according to documents shared by marketplace quality steadfast Tofler.

Hiveloop Technology recorded a nonaccomplishment of Rs 1,080 crore successful the fiscal twelvemonth (FY) 2023.

Hiveloop Technology Private Limited (HTPL) gross declined by astir 41 per cent to Rs 224.83 crore successful FY24 from Rs 381.62 crore successful FY23.

"The company's full expenses for the fiscal were reported astatine Rs 951 crore," according to the documents.

Trustroot Internet Private Limited, the genitor steadfast of Udaan, has besides reported a narrowing of nonaccomplishment to Rs 1,674.1 crore successful FY24 against Rs 2,075.9 crore successful FY23.

The gross of Trustroot Internet accrued by 1.7 per cent to Rs 5,706.6 crore successful FY24 from Rs 5,609.3 crore successful FY23.

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