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Tata Digital's revenue jumped 13X in FY23; losses widened at a slower pace

Tata has been ramping up its e-commerce play and has so far invested Rs 18,942 crore into Tata Digital alone, as per Tata Sons’ annual report released on August 9

August 09, 2023 / 15:52 IST
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Tata Digital operates Tata Neu, which is the company’s everything app for its e-commerce ambitions.

Tata Digital, the conglomerate’s e-commerce project, grew in scale and registered revenues of Rs 204.35 crore in FY23, a 13X jump from Rs 15.9 crore that it clocked in FY22. Although loses mounted up it was at a slower pace.

Tata Digital’s losses stood at Rs 1,370 crore, which was 22 percent more than Rs 1,123 crore that it incurred in FY22. These financials do not include the performance of its key subsidiaries like BigBasket, Croma, 1mg and others.

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Tata Digital operates Tata Neu, which is the company’s everything app for its e-commerce ambitions. Under the Neu app, customers can also avail of services from BigBasket, 1mg, Croma and others, all of which are subsidiaries of Tata Digital. While Neu had teething troubles initially, it has made progress by improving the user experience (UX) but still has a long way to go.

With Tata Neu, the company looks to take on Reliance, Adani and other players with deep pockets and want to set up a super app, too. Tata has been ramping up its e-commerce play and has so far invested Rs 18,943 crore into Tata Digital alone, as per Tata Sons’ annual report released on August 9.