Furniture and home decor solution provider Pepperfry on Monday reported a 30.6% degrowth in its operating revenue in FY24 as it focused on reigning its losses by 37%.
The omnichannel furniture seller clocked an operating revenue of Rs 188.98 crore in FY24, 30.6% lower than Rs 272.3 crore posted in FY23, the company said in its filings with the Registrar Of Companies (RoC).
During the same period, its total loss pared down to Rs 117.4 crore, about 37% lower than Rs 187.6 crore in the previous year, helped by improvements in its expenses.
The Bertelsmann-backed company reduced its expenses by 30% to Rs 326 crore, driven by clearing its inventory backlog and reducing its interest payments and employee-associated costs.
The Mumbai-based company—which competes with Reliance-backed Urban Ladder and Wakefit.co, among several unorganised retailers—last raised $23 million from existing investors in September 2023.
During the same time, it elevated co-founder Ashish Shah to the role of Chief Executive Officer (CEO)—one year later it promoted Madhusudan Bihani to Chief Financial Officer (CFO).
In FY24, Wakefit.co saw its revenue rise 24% to Rs 1,017 crore as it marked its return to EBITDA profitability, with an EBITDA of Rs 65 crore.
![Read more about the article [Funding alert] SATYA MicroCapital raises Rs 135 Cr from responsAbility Investments, Blue Orchard](http://blog.digitalsevaa.com/wp-content/uploads/2021/08/Imagemfxu-1612411229823-300x150.jpg)
![Read more about the article [Funding alert] D2C milk delivery startup Country Delight raises $108M in Series D round](http://blog.digitalsevaa.com/wp-content/uploads/2022/05/CopyofImageTaggingNewBrandingEditorialTeamMaster32-1653466033585-300x150.png)
