Curefoods, a leading player in India’s cloud kitchen sector, has reported a significant reduction in losses for the financial year 2023-24 (FY24), driven by robust revenue growth and improved operational efficiencies. The company’s loss fell by an impressive 49.64%, reflecting its steady march toward profitability.
The company’s operating revenue surged by 53.17% to INR 585.1 crore, compared to INR 382 crore in the previous fiscal year (FY23). This remarkable growth underscores the success of Curefoods’ aggressive expansion strategy and its ability to capture a larger share of the burgeoning food delivery market in India.
Curefoods also witnessed a notable improvement in its EBITDA (earnings before interest, taxes, depreciation, and amortization). The EBITDA loss narrowed to INR 82.8 crore in FY24, a substantial reduction from the INR 275.7 crore loss reported in FY23. The company’s EBITDA margin showed a marked improvement, rising from -72% in FY23 to -14% in FY24, indicating better cost management and operational efficiency.
These figures highlight Curefoods’ growing momentum in the competitive cloud kitchen industry. The combination of strong revenue growth and narrowing losses positions the company as a resilient player in the market, steadily moving toward sustainable growth and profitability.
