E-commerce platform Snapdeal has registered Rs 388 crore in revenue in FY23, as it significantly reduced losses by 45 per cent to Rs 282 crore in the last financial year, as compared to Rs 510 crore in FY22.The company has claimed profitability in the third quarter of the current fiscal year (FY24).Snapdeal cut its adjusted EBITDA loss by 65.6 per cent to Rs 144 crore in FY23, reports Entrackr.TRENDING NOWGitHub’s AI chatbot is now available to all users globallyGet Rs 1.62 lakh by investing Rs 500 only: No tax, no risk, high interest with guaranteed benefitsAyodhya Airport completed in record time of 20 months: Airport Authority ChairmanNew rules from January 1, 2024: From SIM Cards to income tax returns (ITRs), Bank Locker, Insurance Policy to Insurance Trinity ProjectPM Modi to visit Ayodhya today, lay foundation stone of multiple projects worth over Rs 15,000 croreSalaar Vs Dunki Box Office Collection: Prabhas starrer action-thriller crosses Rs 300 crore mark, way ahead of SRK’s film | Check detailsGoa’s debt swells to Rs 35K crore, burden per citizen pegged at Rs 2.2 lakhInterest rates revised for select small savings schemes; Sukanya Samriddhi account to deliver 20 bps higher return in Q4Post Office Monthly Income Scheme (MIS): This investment scheme will give you Rs 9,250 every month; know maturity amount, account pre-closure, and other detailsVivo X100 Pro launch date in India confirmed – Check expected price and featuresFinance Ministry sees GDP growth comfortably surpassing 6.5% in 2023-24Government likely to cut petrol, diesel prices ahead of LS pollsAyodhya Ram Mandir: Air India Express expands operations in city, launches direct flights to Bengaluru, KolkataStock market holidays in 2024: NSE, BSE to remain shut on these days in New Year; check out the full list hereLinkedIn ad revenue rises as advertisers leave Elon Musk’s X“Snapdeal’s improved performance was underpinned by its success in increasing gross margins to 35.5 per cent of revenue in FY 2022‐23, up from 31.8 per cent of revenue in FY 2021‐22 on a standalone basis,” the company said in its statement.Snapdeal’s consolidated revenue declined 31 per cent to Rs 388 crore during FY23 from Rs 563 crore in FY22.“In the ongoing October-December quarter, we are profitable on a consolidated basis,” the company said.According to Himanshu Chakrawarti, CEO of Snapdeal, from the rising demand for sarees and ethnic wear in fashion to the upswing in sports and casual footwear to festive jewellery, it’s clear that Indian shoppers are embracing style and comfort.“The surge in wearables like earphones, headphones, and smartwatches in electronics highlights the tech-savvy nature of shoppers beyond metros,” he had said during the festival quarter (October-December).