iD Fresh Food reports Rs 1.8-crore PAT in FY24

The Bengaluru-based startup iD Fresh Food has reported a 16% increase in its operating revenue to Rs 395.76-crore in FY24 from Rs 340.9-cr in the previous year.

iD Fresh Food sells packaged ready-to-cook and frozen food products, such as various varieties of idli and dosa batter, parotas, chapati, paneer, and curd

The company reported a net profit of Rs 1.84-crore during the fiscal year under review as against a loss of Rs 23.25-crore in FY23. 

Founded in 2005 by PC Musthafa, Abdul Nazeer, Shamsudeen TK, Jafar, and Noushad TA, iD Fresh Food sells packaged ready-to-cook and frozen food products such as various varieties of idli and dosa batter, parotas, chapati, paneer, and curd. 

It sells its products on its website, quick commerce platforms, and thousands of retail stores in India, the US, the UAE, and the UK. 

The startup’s total expenses rose at a slower pace than the rise in its revenue. Total expenditure grew 8.4% to INR 398.75-cr during the year under review from Rs 367.94-cr in FY23. 

iD Fresh Food generated half of its revenue from sales of various batter products, which stood at Rs 198.75-cr in the fiscal ended March 2024. In contrast, these products contributed Rs 163-crore to its top line in FY23.