Kurly reports record Q2 operating profit of 27.4 billion won

Kurly reported record-breaking financial results for the second quarter, with operating profit reaching 27.4 billion won, a 1,991% increase compared to the same period last year. The company achieved its sixth consecutive quarter of profitability. Revenue rose 27% year-on-year to 734.8 billion won, driven by growth in core food and beauty sectors, as well as new business ventures including third-party (3P) delivery and fulfillment services.

Key drivers of profitability included improved cost of sales and an increased proportion of commission-based revenue from 3P products. Gross profit margin rose to 35.3%. Total transaction value (GMV) grew by 25.1% to 1.0786 trillion won. Kurly also reported a record high in cash and cash equivalents, totaling 372.9 billion won.

Amidst this financial growth, the company is addressing consumer concerns regarding fresh food delivery quality during extreme heatwaves. Customers reported issues with frozen items thawing and packaging issues. Kurly stated it is actively improving packaging methods and securing sufficient dry ice to maintain freshness during the prolonged heat.