IKEA FY24 loss widens to Rs 1,299 crore, revenue up 4.5% to Rs 1,809.8 crore

Ikea India reported a loss of Rs 1,299.4 crore for FY24, compared to Rs 1,133 crore the previous year. Revenue from operations increased to Rs 1,809.8 crore. Losses were attributed to investments in omnichannel growth. The company maintained sales growth without price increases and expanded its online presence. New stores and further expansion are planned.