- November 18, 2019 / 3 min readThe company reported a net loss of Rs 130.64 crore for the year ended March 31, 2019, up from a net loss of Rs 74.44 crore in fiscal 2018.
Rebel Foods, which owns and operates multi-brand cloud kitchen brands, has over doubled its topline in the financial year 2018-19, however, its losses widen, as the Mumbai-based company continues to focus on expanding its reach and broadens its offering.
The company reported a net loss of Rs 130.64 crore for the year ended March 31, 2019, up from a net loss of Rs 74.44 crore in fiscal 2018. Rebel Foods owns and operates an estimated 2,100 internet restaurants and 275 cloud kitchens spread across three countries
Rebel Foods’ other expenses, including marketing and promotional spends, among other items, increased 147% to Rs 191.81 crore, as it started expanding at a rapid pace across South-East Asia and the Middle-East, particularly in Indonesia and Dubai.
Rebel Foods looked to invest $30-$40 million in infrastructure, expansion and automation. It also focused on doubling down its nine in-house brands, including Faasos, Behrouz Biriyani, Oven Story, Firangi Bake and Mandarin Oak, among others.
The company is competing with the likes of Naspers-backed Swiggy and Zomato, both of which also operate their own cloud kitchen infrastructure.
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