E-commerce firm LatestOne revenue rises 18% to ₹14 cr in Q3

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LatestOne.com, an e-commerce firm that sells gadget accessories, posted revenues of ₹13.91 crore for the third quarter ended December 31, 2017, a growth of 18 per cent over the revenues in the previous quarter.

“We have become margin positive for seven consecutive quarters. While the quarterly revenue is steadily raising, the burn rate is decreasing quarter on quarter. The number of orders processed per day has increased from 3,500 to 5,000 in the last nine months,” the firm, which is a subsidiary of Palred Technologies Ltd, has said in a statement.

It said losses showed a decrease in the quarter. For the nine-month period ended December 31, 2017, the firm posted revenues of ₹36 crore against ₹30.23 crore in the same period previous year. The net loss stood at ₹4.17 crore against a loss ₹6.46 crore in the same period previous year.

Source: The Hindu