The company’s costs are also likely to remain elevated in FY24 as it looks to increase its store count to 200-300 outlets by the end of this calendar year, which is a 4-5X jump from its current offline footprint.

Tata’s e-pharmacy, Tata 1mg, saw its losses widen by 139 percent in the previous financial year, dragged largely by input costs and other expenses. During the same year, the company’s revenues largely moved in tandem with its bottomline.

The Gurugram-based company saw its losses jump from Rs 526 crore in FY22 to Rs 1,255 crore in FY23, as per regulatory filings sourced from Tofler. During the same period, the company’s revenue from operations grew 160 percent from Rs 627 crore in FY22 to Rs 1,627 crore in the previous financial year.

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