Snapdeal, which walked away from a deal with Flipkart in 2017 to chart its own independent strategy for growth, has managed to bring down its consolidated loss substantially to ₹613 crore for 2017-18 from ₹4,647.1 crore in 2016-17.
The company had stated that it is focussing on maximising the operating efficiency of its marketplace and implementing its planned growth initiatives.
ShopClues (which is registered as Clues Network) also narrowed its losses to ₹2.08 billion ( ₹208 crore) for the year ended March 2018, against a loss (after tax) of ₹3.47 billion ( ₹347 crore) in 2016-17. The company, which has raised around $250 million so far, focusses on tier II and III cities.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed
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