Deloitte raises concerns over Dunzo’s financial health – Times of India

by The Technical Blogs

NEW DELHI: Troubled quick commerce startup Dunzo’s auditor Deloitte has raised concerns about the firm’s ability to continue as a going concern in its FY23 financial report. “….the group’s current liabilities exceeded its current assets by Rs 3,258 million primarily because of significant high operational costs for building customer base….the group’s ability to continue as a going concern is significantly dependent on the availability of additional funding, and improvement in business operations.These events or conditions, along with other matters…indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern,” Deloitte said.
In accounting terms, going concern refers to a company, which has the resources needed to continue operating. Dunzo’s consolidated loss in FY23 ballooned to Rs 1,801 crore from Rs 464 crore in the year ago period. Dunzo did not immediately respond to a request for comment.

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