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Neobank unicorn Open posts Rs 46 Cr revenue in FY25; outstanding losses mounts to Rs 1,921 Cr

EntrackrEntrackr · 3m ago
Neobank unicorn Open posts Rs 46 Cr revenue in FY25; outstanding losses mounts to Rs 1,921 Cr
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Fintrackr Neobank unicorn Open posts Rs 46 Cr revenue in FY25; outstanding losses mounts to Rs 1,921 Cr Once hailed as India’s first neobanking unicorn, Open is yet to live up to its hype. The startup's revenue is still under Rs 50 crore in FY25, while the bottom line for the Bengaluru-based firm is in the red with over Rs 100 crore during the fiscal year ending March 2025. Open’s revenue from operations increased 85% to Rs 46 crore in FY25, compared to Rs 24.8 crore in FY24, its annual financial statements sourced from the Registrar of Companies (RoC) shows. The company builds digital payment solutions that offer businesses a fully digital current account along with a suite of integrated tools for finance, accounting, and credit, all in collaboration with banking and lending partners. Open’s revenue in FY25 mainly came from subscription-based digital payment services and commission income on a pay-per-use model, which contributed Rs 46 crore. It also added Rs 12.1 crore from interest on deposits (non-operating), thanks to its healthy cash and bank balance, which helped lift its total revenue to Rs 58.1 crore during the fiscal year. For the neo-bank platform, employee benefits formed 62.5% of the total burn, which stood at Rs 100 crore in FY25, while its software expenses were recorded at Rs 18.3 crore. Its legal/professional, advertising cum marketing, commissions, travel, insurance, and other overheads stretched the overall expenses to Rs 160 crore in FY25. The 85% increase in revenue and reduction in employee benefits helped Open to reduce its losses by 35.8% to Rs 108.8 crore in FY25, compared to Rs 169.6 crore in FY24. The accumulated losses for the Tiger Global-backed startup mounted to Rs 1,921 crore ($225 million) till FY25. Open’s expense to revenue ratio improved this year, while ROCE and EBITDA margin recorded at -56.6% and -235.65% respectively. The company has a current total assets of Rs 210 crore, including cash and balances of Rs 202 crore by the end of the previous fiscal year (FY25). According to the startup data intelligence platform TheKredible, Open has raised over $190 million across rounds, including its $50 million round led by IIFL and with the participation of Tiger Global, where the company turned Unicorn in 2022. Open’s FY25 numbers highlight the stark reality facing India’s neobank sector. Despite unicorn valuations and massive funding, regulatory restrictions on digital lending, FLDG arrangements, and prepaid credit lines, combined with high employee costs and intense competition from traditional banks, have made profitability a distant goal. Rapid user growth alone no longer guarantees success for all the neo-banking platforms. For growth, Open and other neobanks will need to broaden their playbook beyond basic banking services. This could include expanding into lending for SMEs, wealth management, insurance distribution, or SaaS-based finance tools, leveraging their existing customer relationships. Given the regulatory circumstances and investor pressure, the growth in this particular category seems distant.

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Swiggy posts Rs 4,961 Cr revenue in Q1 FY26, losses soar 96%

EntrackrEntrackr · 6m ago
Swiggy posts Rs 4,961 Cr revenue in Q1 FY26, losses soar 96%
Medial

Swiggy posts Rs 4,961 Cr revenue in Q1 FY26, losses soar 96% Foodtech and quick commerce major Swiggy has reported a 54% year-on-year growth in its operating revenue which spiked to Rs 4,961 crore during Q1 FY26 as compared to Rs 3,222 crore Q1 FY25. However, the Bengaluru-based company’s losses almost doubled in the same period. Scootsy Logistics contributed a major 46% of Swiggy’s overall operating collection. Income from this entity increased by 78% YoY to Rs 2,259 crore in Q1 FY26 from Rs 1,268 crore in Q1 FY25. Swiggy’s food delivery business continues to be one of the major contributors, accounting for 36% of the total collection in Q1 FY26. Revenues from this vertical grew 19% to Rs 1,800 crore from Rs 1,518 crore in Q1 FY25. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 2X to Rs 806 crore in Q1 FY26 from Rs 374 crore in Q1 FY25. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores. Swiggy’s Dine Out, Genie, Swiggy Mini and other non-operating income took its total revenue to Rs 5,048 crore in Q1 FY26. On the cost side, the procurement of FMCG products for supply chain distribution formed 33% of its overall cost which increased by 72% to Rs 2,064 crore in Q1 FY26. Meanwhile, the delivery charges saw 26% growth to Rs 1,313 crore in Q1 FY26. Swiggy spent Rs 686 crore and Rs 1,036 crore on employee benefits and advertising, respectively. Overall, Swiggy’s total expenses for the quarter increased 60% to Rs 6,244 crore from Rs 3,908 crore in Q1 FY25. The 60% growth in expenditure led losses to increase by 96% to Rs 1,197 crore in Q1 FY26 from Rs 611 crore in Q1 FY25. Recently Swiggy reshuffled its board as Sumer Juneja from SoftBank and Anand Daniel from Accel resigned from their roles as nominee directors on Swiggy’s board. Following these departures, Swiggy appointed Faraz Khalid, CEO of Middle East commerce platform noon, as an independent director. Swiggy shares were trading at Rs 404 at the end of Thursday with a total market capitalization of Rs 1,00,730 crore.

Vedantu posts Rs 227 Cr revenue in FY25

EntrackrEntrackr · 6d ago
Vedantu posts Rs 227 Cr revenue in FY25
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Vedantu posts Rs 227 Cr revenue in FY25 Edtech unicorn Vedantu reported a 23% year-on-year growth in revenue in the fiscal year ended March 2025, but a sharper rise in expenses led to a 25% increase in its pre-tax losses, which crossed Rs 200 crore. Vedantu’s revenue from operations grew 23% to Rs 227 crore in FY25 from Rs 185 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). The firm’s core offerings include online classes for grades 6 to 12, along with study materials for grades 1 to 12 and JEE preparation. The company also launched several offline coaching centers in recent years. Income from online tutoring accounted for 87% of Vedantu's total operating revenue, which increased by 19% to Rs 197 crore in FY25 from Rs 166 crore in FY24. Book sales more than doubled to Rs 22 crore, while the remaining revenue came from hostel fees and e-learning projects in FY25. On the spending side, employee benefit expenses remained the largest cost center, accounting for 49% of the total expense. This cost rose 24% to Rs 219 crore in FY25 from Rs 176 crore in FY24. Advertising expenses went up 17% to Rs 27 crore, while depreciation costs climbed to Rs 69 crore from Rs 58 crore in FY24. Overall, Vedantu’s total expenses rose 21% to Rs 444 crore in FY25 from Rs 368 crore a year earlier. The company’s loss before tax increased by 25% to Rs 210 crore in FY25 from Rs 168.5 crore in FY24. Importantly, the company booked an income of Rs 77 crore as exceptional items (non-cash). If we include this, net losses came down to Rs 123 crore in FY25. The exceptional item relates to Ace Creative Learning Private Limited (Deeksha), under which the Company holds a call option and the founders hold a put option to buy or sell shares at an agreed consideration. During the year, the Company reduced the fair value of the deferred consideration, recognising a non-cash income of Rs 93.1 crore (Rs 77.4 crore post-tax), which has been classified as an exceptional item and excluded from the computation of operational losses. Its ROCE and EBITDA margin stood at -92.86% and -61.23%, respectively. On a unit basis, Vedantu spent Rs 1.96 to earn a rupee of operating revenue during the year. As of March 2025, the Bengaluru-based firm had cash and bank balances of Rs 40 crore, while its current assets stood at Rs 101 crore. According to startup data intelligence platform TheKredible, Vedantu has raised a total of $348 million in funding to date, with Tiger Global, Coatue, Accel, and Omidyar Network as its lead investors.

Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65%

EntrackrEntrackr · 23d ago
Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65%
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Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65% Ampere Vehicles has shown signs of recovery as the company posted single-digit revenue growth in FY25, after the company had seen its revenue fall sharply by 46% in FY24. The company also managed to curb its losses in the same period. Ampere’s operating revenue grew 8% to Rs 659 crore in FY25 from Rs 612 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Ampere, a brand under Greaves Electric Mobility, focuses on manufacturing electric scooters and three-wheeled vehicles. Sale of these products was the sole source of revenue for the company. Including other income of Rs 16 crore, Ampere’s total income rose to Rs 675 crore in FY25, compared to Rs 641 crore a year earlier. On the spending side, the cost of material accounted for 64% of the total expense. This cost rose 12% to Rs 589 crore in FY25 from Rs 527 crore in FY24. Employee benefit expenses declined 22% to Rs 79 crore, while advertising and promotional spends jumped 30% to Rs 43 crore during the year. Depreciation expenses climbed 41% to Rs 45 crore in FY25 from Rs 32 crore in FY24. Other overheads, including warranty claims, finance costs, and miscellaneous expenses, added another Rs 205 crore in FY25. Overall, total expenses increased 7% to Rs 918 crore in FY25 from Rs 857 crore in FY24. Ampere managed to cut its losses by 65% to Rs 240 crore in FY25 from Rs 691.5 crore in FY24. Its ROCE and EBITDA margin improved to -85.27% and -30.50%, respectively. On a unit basis, Ampere spent Rs 1.39 to earn every rupee of operating revenue during the year, marginally better than Rs 1.40 in FY24. As of March 2025, the company reported cash and bank balances of Rs 25 crore, while its current assets stood at Rs 263 crore. In terms of E2W sales for December, Greaves Electric Mobility retained its sixth position and sold 4,335 units with a market share of 4.66%. In comparison, the segment’s leader TVS sold 24,317 units with a market share of 26.14%. In December 2024, Ampere’s parent Greaves Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 18.94 crore equity shares. The firm also received a final nod from SEBI for the proposed IPO.

TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25

EntrackrEntrackr · 8m ago
TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25
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Business-focused travel distribution platform Travel Boutique Online (TBO) has recorded a 21% year-on-year increase in its revenue while its profits grew 28.3% during the fourth quarter of the last fiscal year (FY25). TBO’s operating revenue increased to Rs 446 crore in Q4 FY25 from Rs 369 crore in Q3 FY24, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. Income from the booking of hotels and packages accounted for 80% of TBO’s revenue, which increased to Rs 357 crore in Q4 FY25. Meanwhile, income from air ticketing and other allied services brought Rs 79 crore and Rs 10 crore to the firm’s coffers. Hotels and packages, as the top revenue source, made service fees the largest cost center, accounting for 33.75% of total expenditure or Rs 135 crore in Q4 FY25. Employee benefits were Rs 99 crore in the same quarter. Overall, total costs rose to Rs 400 crore in Q4 FY25 from Rs 325 crore in Q4 FY24. The decent surge in scale and controlled expenditure led TBO to post a 28.3% YOY increase in its profits after tax to Rs 59 crore in Q4 FY25 from Rs 46 crore in Q4 FY24. However, for the full fiscal year, it posted a 15% YoY increase in PAT to Rs 230 crore in the previous fiscal (FY25). At the end of today’s (Thursday, May 22) trading session, TBO Tek saw around a 3% decrease in its stock, which stood at Rs 1,197 with a total market capitalization of Rs 13,005 crore or ($1.53 billion).

Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%

EntrackrEntrackr · 9m ago
Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%
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Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115% Foodtech and quick commerce major Swiggy has managed a 45% year-on-year growth in its operating revenue which spiked to Rs 4,410 crore during Q4 FY25 as compared to Rs 3,045 crore in Q4 FY24. However, the Bengaluru-based company’s losses surged 95% in the same period. Swiggy’s food delivery business continues to be a major contributor, accounting for 37% of the total collection in Q4 FY25. Revenues from this vertical grew 18% to Rs 1,629 crore from Rs 1,375 crore in Q4 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 115% to Rs 689 crore in Q4 FY25 from Rs 320 crore in Q4 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores. Scootsy Logistics contributed a major 45% of Swiggy’s overall operating collection. Income from this entity increased by 58% YoY to Rs 2,004 crore in Q4 FY25 from Rs 1,265 crore in Q4 FY24. During the last quarter, Swiggy invested Rs 1,000 crore in Scootsy to support expansion and growth. Swiggy’s Dine Out, Genie, Swiggy Mini, and other non-operating income took its total revenue to Rs 4,531 crore in Q4 FY25. For the full fiscal year ending March 2025, Swiggy’s revenue rose 35% to Rs 15,227 crore in FY25 from Rs 11,247 crore in FY24. On the cost side, the procurement of FMCG products for supply chain distribution formed 33% of its overall cost which increased by 52% to Rs 1,854 crore in Q4 FY25. Meanwhile, the delivery charges saw 27% growth to Rs 1,161 crore in Q4 FY25. Swiggy spent Rs 695 crore and Rs 978 crore on employee benefits and advertising, respectively. Overall, Swiggy’s total expenses for the quarter increased 53% to Rs 5,609 crore from Rs 3,668 crore in Q4 FY24. On a fiscal-on-fiscal year basis, its total expenses increased to Rs 18,725 crore in the quarter ending March 2025 from Rs 13,947 crore in FY24. The 53% growth in expenditure led losses to increase by 95% to Rs 1,081 crore in Q4 FY25 from Rs 555 crore in Q4 FY24. On a fiscal-on-fiscal basis, Swiggy’s losses spiked 33% to Rs 3,117 crore in FY25 from Rs 2,350 crore in FY24.

Zetwerk’s GMV slips 11% in FY25; posts Rs 371 Cr loss

EntrackrEntrackr · 23d ago
Zetwerk’s GMV slips 11% in FY25; posts Rs 371 Cr loss
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B2B e-commerce unicorn Zetwerk, which is reportedly preparing to file for an initial public offering (IPO), saw its revenue decline in FY25. Despite the slowdown in the top line, the company managed to reduce its losses during the same period. Zetwerk’s gross revenue fell 11% to Rs 12,798 crore in FY25 from Rs 14,443 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Zetwerk is a B2B manufacturing and construction marketplace. The company derives its revenue primarily from trading activities, manufacturing services, and construction and project contracts. Revenue from trading activities, which accounted for 58% of the income, declined 20% to Rs 7,706 crore in FY25. In contrast, revenue from manufacturing services grew 33.5% to Rs 2,682 crore. Income from construction and project contracts slipped 19% to Rs 2,242 crore, while other income stood at Rs 535 crore in FY25. Including non-operating income, Zetwerk’s total income stood at Rs 12,981 crore in FY25, compared to Rs 14,612 crore in FY24. On the expense side, the cost of materials accounted for over 85% of the total expense. This cost declined 17% to Rs 11,232 crore in FY25 from Rs 13,467 crore in FY24. Employee benefit expenses, however, rose 12% to Rs 517 crore, while subcontracting expenses increased 16% to Rs 250 crore. Finance costs remained largely flat at Rs 450 crore, and other expenses added another Rs 670 crore during the year. Overall, Zetwerk reduced its total expenses by 12% to Rs 13,196 crore in FY25 from Rs 15,001 crore in FY24. As a result, its expense-to-revenue ratio improved marginally to 1.03 from 1.04 a year earlier. With GMV declining, procurement costs came down accordingly, and coupled with a sharp drop in exceptional items, the company reduced its losses by 60% to Rs 371 crore in FY25 from Rs 918 crore in FY24. However, the company posted a positive EBITDA of Rs 145 crore in the same period. Its ROCE and EBITDA margin improved to -0.68% and 1.13% respectively. On the balance sheet front, Zetwerk’s cash and bank balances rose sharply to Rs 1,908 crore in FY25 from Rs 1,150 crore a year earlier. The company reported current assets worth Rs 7,840 crore in the same period. According to TheKredible, Zetwerk has raised a total of $889 million of funding till date, having Greenoaks, Peak XV Partners, Lightspeed Venture Partners and Accel as its lead investors. In April last year, Zetwerk had indicated that it was targeting a public listing within a 12 to 24 month period. The company is expected to file its draft prospectus this year through the confidential route for its $750 million IPO, which would be among the larger public market debuts by an India-based manufacturing company.

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%

EntrackrEntrackr · 8m ago
Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%
Medial

Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20% Digital payments firm Infibeam has reported a 62% increase in revenue during the fourth quarter of the last fiscal year (Q4 FY25), while its year-on-year profit rose by 20%. Infibeam’s revenue from operations increased to Rs 1,160 crore in Q4 FY25 from Rs 716 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Infibeam’s operating revenue increased 27% to Rs 3,992 crore in FY25 from Rs 3,150 crore in FY24. Payment business accounted for 95% of its total collection which increased by 64% to Rs 1,098 crore in Q4 FY25. Meanwhile, there was a 35% increase in the e-commerce platform business, which rose to Rs 62 crore. The Ahmedabad-based firm recorded a total revenue of 1,180 crore in Q4 FY25. For the full fiscal year (FY25), its total income stood at Rs 4,066 crore. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. On the cost side, the company’s total expenses rose by 66% to Rs 1,104 crore in Q4 FY25. For the digital payment firm, its payment processing was the largest cost center, rising by 68% to Rs 1,025 crore. Employee benefits increased by 30% to Rs 39 crore, while depreciation cost grew 6% to Rs 18 crore. Infibeam Avenues also incurred Rs 22 crore on other undisclosed expenses in the said quarter. For the fiscal year ending March 2025, the firm’s total expenses increased to Rs 3,768 crore. In the end, the company reported profit after tax of Rs 55 crore in Q4 FY25, 20% up from Rs 46 crore in Q4 FY24. On a fiscal year basis, its profit increased to Rs 236 crore in FY25 from Rs 156 crore in FY24. At 15:31 PM today, its market cap stood at Rs 5,579 crore while the firm’s stock was trading at Rs 20.

Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37%

EntrackrEntrackr · 2m ago
Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37%
Medial

Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37% Following a 20% year-on-year rise in FY24, insurtech platform Acko sustained its momentum with 35% revenue growth in FY25. At the same time, the company also cut its losses by 37% during the same period. Acko’s revenue from operations surged to Rs 2,837 crore in FY25, compared to Rs 2,106 crore in FY24, according to its consolidated annual figures accessed from the Registrar of Companies (RoC). For the digital insurance provider, income from gross premium earned made up 73.5% of its total income, rising 31% to Rs 2,085 crore during the last fiscal year. Service contracts, recoveries from reinsurers, commissions, interest income from investments, and other miscellaneous income pushed total revenue to Rs 2,887 crore in FY25, up from Rs 2,160 crore in FY24. In terms of cost breakdown, employee benefit expenses declined slightly by 6% to Rs 334 crore in FY25 from Rs 355 crore in FY24, accounting for 10% of the company’s total costs. The firm also cut its advertising spend by 12% to Rs 497 crore, while commissions paid to sole selling agents rose 35% to Rs 283 crore during the previous fiscal. A large portion of the company’s expenses was grouped under miscellaneous costs, primarily comprising claims paid, premium on reinsurance ceded, and other office and administrative expenses. This category amounted to Rs 2,006 crore in FY25. Overall, the total expenses for the Accel-backed company rose 17% to Rs 3,312 crore in FY25, compared to Rs 2,830 crore in FY24. Stronger top-line and tighter cost control helped Acko to reduce its losses by 37% to Rs 424 crore in FY25. Its ROCE and EBITDA margin improved to -30.5% and -16%, respectively. On a unit basis, Acko spent Rs 1.17 to earn a rupee in FY25. The company’s current assets stood at Rs 1,798 crore, including Rs 28 crore in cash and bank balance at the end of FY25. According to TheKredible, Acko has raised over $458 million to date. General Atlantic is the largest external shareholder with a 10.7% stake, followed by Accel Partners and Elevation Capital. Acko’s competitor Digit Insurance reported Rs 2,088 crore operating revenue in Q2 FY26, while its profit after tax increased by 30% to Rs 116.5 crore during the same period.

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%

EntrackrEntrackr · 4m ago
Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%
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Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28% Used car retailer Spinny posted a steady performance in FY25 with notable top-line growth and narrowing losses. The Gurugram-based company’s revenue from operations jumped 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Spinny primarily generates its revenue from used car sales, accounting for 97.7% of its operating income (Rs 4,553 crore) from this segment, marking a 25.7% YoY rise during FY25. The balance came from commissions, support services, and advertising. Beyond operations, the company booked Rs 89 crore in non-operating income from interest on deposits, corporate bonds, mutual fund gains, and fair value adjustments. This pushed its total income to Rs 4,746 crore in FY25 from Rs 3,822 crore in FY24. For the used car retailer, the cost of procuring cars was naturally the largest cost center, accounting for 83.3% of the overall cost. In line with a 25% revenue surge, this cost grew 23% to Rs 4,309 crore in FY25. The firm cut its employee benefits by 13.8% to Rs 338 crore in the said year. Spinny’s direct cost stood at Rs 147 crore while its advertising and promotion costs reduced by 11.3% to Rs 125 crore in FY25. Other overheads, including information technology, legal, travelling, and rent, took the total cost to Rs 5,170 crore in FY25. The decent growth in its revenue helped Spinny to cut down its losses by 28.3% to Rs 423 crore in FY25 from Rs 590 crore in FY24. The company has also improved its per unit expense to revenue ratio in FY25, which was recorded at Rs 1.11. In March this year, the company closed $170 million round this year led by Accel Leaders Fund. According to startup data intelligence platform TheKredible, Spinny has raised around $676 million to date, including investors like Tiger Global, Accel, Elevation Capital, and others. The company expanded its portfolio by acquiring Autocar India, an auto media and car content platform, and started its own NBFC subsidiary.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 12m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

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