The e-commerce company reported loss of Rs 1319.29 crore in fiscal 2015 as compared to loss of Rs 264.62 crore in fiscal 2014, a rise of almost 398 per cent.
Its total expenses in the fiscal 2015 rose to Rs 2256.97 crore, a rise of almost 415 per cent as compared to Rs 432.78 crore in the prior year. Almost half of the total expenditure at Snapdeal was incurred on advertising.
The losses are mainly a result of overspending on advertisement, according to analysts. Major chunk of Snapdeal's total revenue comes from tier 1 and tier 2 cities. (MCJ)
ALCHEMPro News Desk - India
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