Nureca Ltd, a home healthcare and wellness company, has entered into a distribution agreement with Zepto, India’s quick-commerce platform known for 10-minute deliveries. Through this partnership, Nureca’s products, including healthcare and wellness devices, will now be available to Zepto’s growing customer base across India.
While the partnership does not currently meet SEBI’s materiality thresholds, Nureca anticipates significant growth in sales from Zepto in the coming quarters as the collaboration matures. Financial terms of the agreement remain undisclosed.
In its latest quarterly earnings, Nureca said net sales stood at ₹ 31.2 crore for the quarter ended September 2024, slightly lower from ₹ 31.4 crore a year earlier. Loss narrowed significantly to ₹ 48 lakh from ₹ 2.89 crore for the same period ending September of FY24. EBITDA for Q2FY25 was ₹ 80 lakh, a sharp decline from ₹ 4.59 crore in Q2FY24.
Following the announcement, Nureca shares closed nearly 4% higher at ₹278 on November 14. This stock has so far been a laggard in 2024, sliding 34% against an 8% gain in the Nifty 50.
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Source: Moneycontrol
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