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Milk basket may break even in July-Sep quarter

Covid-19 has created a huge upsurge in adoption of online purchases through E-commerce during the lockdown. Milk Basket has already achieved operational profitability in April this year. Now they are aiming at overall profitability in second quarter.

Milk Basket is present in Gurugram, Noida, Bengaluru and Hyderabad. The company had already achieved profitability in three cities except Hyderabad. Milk Basket might become the first E-commerce player in fresh category to become profitable.

Milk basket is receiving 500-1000 new signups every day since the lockdown. Currently it has around 130000 active users. There has been a 2.2 to 2.5 times increase in average orders received during Covid-19 period. Earlier in this week the company received $5.5 million funding from Inflection point ventures. As per a research done by crunch base data Milk basket has raised $38.8 Million till now.

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