Licious sees flat revenues as cash burn continues in FY24
As per a report on Wednesday, Licious ended FY23 with a revenue of Rs 700 crore, less than half of Rs 1,500 crore that it initially projected.
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NEW DELHI: Direct-to-consumer foodtech platform Licious is reportedly going through flat revenues in FY24 as cash burn continues, despite claims by its founders Abhay Hanjura and Vivek Gupta that the meat delivery startup is on a profitable path.
As per a report on Wednesday, Licious ended FY23 with a revenue of Rs 700 crore, less than half of Rs 1,500 crore that it initially projected. “Five months into FY24, Licious looks to be treading a similar path,” it added.
Licious’ monthly revenues remain in the Rs 62-68 crore range in the ongoing financial year to date. While Licious sounds optimistic about September, it still expects revenues to decline in the coming months, said the report, citing internal documents. The business may enter a more stable phase only after Deepavali in November.