Grofers sees 5x jump in sales, starts financial year in a good note

BENGALURU: The fiscal 2017-18 has been a year of restructuring for online grocer Grofers, which is slowly showing positive results. The firm claims to have started the new financial year on a positive note by clocking Rs 7.8 crore in sales on day one, an approximate 5x jump from sales made on the first day of FY18. The Gurugram-based company, which recently raised Rs 400 crore in a funding round led by Japan’s SoftBank at a 20% lower valuation, expects to generate the topline of Rs 2,400 crore during this fiscal — more than half of which will be contributed by Delhi-NCR region. “Several internal and external factors have contributed to the growth of Grofers,” said cofounder Albinder Dhindsa.