Akshata Sharma
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Mumbai-based specialty coffee and craft-baked goods brand Subko Specialty Coffee Roasters and Craft Bakehouse recorded sales of INR 13.5 Cr. in the financial year ended March 31,2023. This was 94% higher than the INR 7 Cr. operating revenue it posted in the previous fiscal year.
Subko Coffee earns revenue by selling coffee and bakery products through its cafes and website. As per its financial statement, the startup earned most of it's income- INR 13.4 Cr.
Meanwhile, net loss rose to INR 9.1 Cr in FY23 from INR 1.7 Cr. inb the previous fiscal year.
Where did it spend?
Total expenditure jumped 176% to INR 23.4 Cr during the year under review from INR 8.5 Cr in FY22, in line with the startup's growing business.
Employee Benefit Expenditure:
Employee cost was the biggest expenditure for the startup. It spent INR 6.6 Cron employee benefit expenses during the year under review, an increase of 154% from INR 2.6 Cr. This indicates that the startup has been increasing its employee headcount.
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