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"Tata-owned Innovative Retail Concepts, which runs online grocery platform BigBasket, has posted a 17% rise in its revenue for 2021-22 at Rs 7,098 crore, but its losses spiked four times to Rs 812 crore, according to its regulatory filings accessed through Tofler.  Its total expense jumped 26% on year to Rs 7,931 crore in FY22. BigBasket runs on an inventory-led model and its biggest expense was the cost of goods, which increased 7% to Rs 5,807 crore.  The company generated Rs 173 crore in advertisement revenue, which was absent in the previous financial year. Advertisement revenue is generated by asking brands to buy banner slots on the home page of the app or by buying top slots when a customer searches for a keyword.  During the summer season, the parent company infused about Rs 1,350 crores into Innovative Retail Concepts as Tata was promoting its super app aggressively during the Indian Premier League.   92908244 ET reported on March 23 that the company was building a multi-model approach for its business. It operates in three models - same-day or next-day delivery, one-hour delivery service called BB Express, and a 20-minute delivery service called BB Now.  While it competes with bigger players like Amazon, Flipkart and Reliance in the same-day and next-day delivery space, it is fighting upstarts like Zepto, Reliance-backed Dunzo, Swiggy Instamart, and Blinkit in the quick commerce model.  Innovative Retail Concepts is a subsidiary of Supermarket Groceries Pvt Ltd, which also has a business-to-business vertical. ET had reported on March 11 that the company may see its revenue climb to $1.3 billion and it is being internally valued between $4-5 billion by Tata Digital.  Tata Digital had acquired a majority stake in the Bengaluru-based online grocery firm at a valuation of around $1.8 billion in May last year. Soon after, it pumped in around $200 million in the firm, valuing it at $2 billion, as ET reported on May 28 last year.  For Tata, BigBasket is a key cog in its super app Tata Neu. Tata Digital owns around 64% in Supermarket Grocery Supplies. Innovative Retail Concepts.   "
<https://economictimes.indiatimes.com/industry/services/retail/egrocer-bigbaskets-revenue-crosses-rs-7000-crore-in-fy22-losses-jump-four-times/articleshow/92908194.cms>