Compared to US $ 32.93 million in fiscal year 2023, value e-commerce company Snapdeal was able to reduce its loss to US $ 18.7 million for the fiscal year 2024. From US $ 16.81 million in FY ’23 to US $ 1.87 million in FY ’24, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) loss decreased by 88 per cent.
According to its records with the Registrar of Companies, Snapdeal’s operating revenue climbed by 2 per cent to US $ 44.38 million during the fiscal year, up from US $ 43.45 million in the prior fiscal year. E-commerce enablement, marketing services, and other auxiliary sources are the company’s primary sources of income.
With US $ 29.55 million, marketing services accounted for the largest portion of total income, while enablement services contributed US $ 12.03 million. Snapdeal’s smart cost-cutting measures in FY ’24 caused overall spending to decrease by 21 per cent, from US $ 80.36 million in FY ’23 to US $ 63.19 million.
