SUMMARY
- iD Fresh has posted net profit of Rs 4.56 crore in FY24.
- The company saw its operating income rise by 16.3% YoY to Rs 557.84 crore in FY24.
- Its total expenses went up by 8% YoY to Rs 558.2 crore in FY24.
Packaged food retailer iD Fresh turned its financial situation with a net profit of Rs 4.56 crore in FY24 after suffering a net loss of Rs 32.8 crore in FY23. The company saw its operating income rise by 16.3% YoY to Rs 557.84 crore in FY24, up from Rs 479.29 crore in FY23, according to documents filed with the Registrar of Companies.
This growth in revenue was accompanied by increase in total expenses, which went up by 8% YoY to Rs 558.2 crore in FY24. The main reasons for this increase were higher material costs, increased expenses for employee benefits, and additional costs related to advertising.
The Bengaluru-based brand’s most popular product, ready-to-cook batter, saw a 24% YoY increase in sales to Rs 237 crore, while its second most popular product, parotta, saw a 10% YoY increase in sales to Rs 183 crore.
iD Fresh has recently announced its entry into the spice market with the introduction of three spice varieties: red chilli powder, garam masala, and sambar powder. Earlier, the company had shared its plans to grow its market presence in north India, which it currently lacks a strong foothold in, starting with Delhi and then expanding to Chandigarh and Agra.
