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IPO-Bound FirstCry reports INR 278 Cr loss in nine months of FY24

Inc42 · 1y ago

IPO-Bound FirstCry reports INR 278 Cr loss in nine months of FY24

Kids-focussed omnichannel retailer Firstcry posted a consolidated net loss of INR 278.2 Cr for the nine months ending December 2023 in the financial year 2023-24 (FY24). The Pune-based startup posted a consolidated net loss of INR 486 Cr in the full financial year 2022-23 (FY23), a 518% increase from INR 78.6 Cr in the previous fiscal year.

Related News

FirstCry CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023

Economic Times

Economic Times · 1y ago

FirstCry CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023

FirstCry CEO Supam Maheshwari saw a 49% drop in monthly remuneration to Rs 8.61 crore for the first nine months of FY24, according to the company's draft red herring prospectus (DRHP) before filing for an IPO. Co-founder Sanket Hattimattur also experienced a decrease in pay. FirstCry is aiming to raise $218 million through a fresh issue of shares in its IPO, which is expected to be valued at around $500 million. The company recorded a net loss of Rs 278 crore for the nine months ending in December 2023.

Meet The Key Executives At IPO-Bound FirstCry

Inc42 · 1y ago

Meet The Key Executives At IPO-Bound FirstCry

FirstCry-parent BrainBees Solutions has refiled its Draft Red Herring Prospectus (DRHP) with SEBI for its upcoming Initial Public Offering (IPO). The IPO will include a fresh issue of shares worth INR 1,816 Crores and an offer for sale (OFS) component of 5.4 Crore equity shares. The company plans to use the funds to set up new stores, establish warehouses, and fund its organic growth opportunities. FirstCry reported sales of INR 4,814 Crores but a loss of INR 278.2 Crores in the first nine months of the fiscal year.

FirstCry refiles IPO papers, reports December revenue at Rs 4,841 crore

Economic Times

Economic Times · 1y ago

FirstCry refiles IPO papers, reports December revenue at Rs 4,841 crore

FirstCry, a retailer for baby and mother care products, has resubmitted its draft IPO papers after being asked by the Securities and Exchange Board of India (Sebi) to provide more disclosure of key performance indicators. The company aims to raise $218 million through the issuance of new shares and the divestment of existing shares. For the nine months ending December 2023, FirstCry recorded operating revenue of INR 4,814 crore with a net loss of INR 278 crore. The majority of its sales come from online channels, and it had gross sales of INR 5,650 crore during the same period. The IPO launch is expected to happen later than initially planned, and the final valuation of the company will determine the size of the IPO.

FirstCry’s business growth softens, but profitability improves

The Arc Web

The Arc Web · 1y ago

FirstCry’s business growth softens, but profitability improves

FirstCry, a children's products retailer, has reported a revenue of Rs 4,814 crore and a net loss of Rs 278 crore for the nine months ending in December 2023. The company is expecting a moderate revenue growth of 14-15% in FY24 compared to the previous year's 135% growth. FirstCry has seen declining contribution of India sales, which accounted for about 70% of the overall income in the nine-month period. The company has also expanded its operations in the Middle East and has added 114 new physical stores, bringing the total count to 1,018.

FirstCry To Use IPO Proceeds For Overseas Expansion, Acquisitions, Other Initiatives

Inc42 · 1y ago

FirstCry To Use IPO Proceeds For Overseas Expansion, Acquisitions, Other Initiatives

FirstCry, a kids-focused omnichannel retailer, has updated its plans for capital raised in its initial public offering (IPO). The company aims to invest INR 388.2 crore in its subsidiary, Digital Age Retail, for setting up new modern stores and making lease payments. It will also use INR 150 crore for sales and marketing initiatives, a 50% increase from the initial amount specified. Other investment plans, such as overseas expansion and technology costs, remain unchanged. FirstCry reported a net loss of INR 278.2 crore and revenue of INR 4,814 crore for the first nine months of FY24.

IPO-Bound BlackBuck Narrows Loss By 33% To INR 194 Cr In FY24

Inc42 · 1y ago

IPO-Bound BlackBuck Narrows Loss By 33% To INR 194 Cr In FY24

IPO-bound logistics company BlackBuck reported a net loss of INR 194 crore in FY24, down 33% from the previous fiscal year. However, its total revenue increased 62% to INR 316.5 crore, including other income. BlackBuck is planning an IPO, with a fresh issue of shares worth INR 550 crore.

FirstCry’s business growth softens, but profitability improves

The Arc Web

The Arc Web · 1y ago

FirstCry’s business growth softens, but profitability improves

Omnichannel retailer, FirstCry, reported a revenue of Rs 4,814 crore and a net loss of Rs 278 crore for the nine months ending December 31, 2023. The company expects moderate revenue growth of 14-15% in FY24 and a decrease in losses compared to FY23. The contribution of India sales in the overall income has declined, while the company's presence in the Middle East is expanding. FirstCry's international business accounts for 12% of its income. GlobalBees, a brand aggregator, saw an increase in revenue contribution to 18%. The company has also added 114 new physical stores, bringing the total count to 1,018.

IPO-Bound Awfis Posts INR 19 Cr Loss In The First Nine Months Of FY24

Inc42 · 1y ago

IPO-Bound Awfis Posts INR 19 Cr Loss In The First Nine Months Of FY24

Coworking startup Awfis, which is preparing for an INR 599 Cr IPO, experienced a net loss of INR 18.9 Cr in the first three quarters of FY24. However, the company's EBITDA turned profitable in 2021, reaching INR 195.5 Cr during the same period. Awfis' operating revenue surpassed FY23's number of INR 545.3 Cr within the first three quarters of FY24, reaching INR 616.5 Cr. Chairman and MD Amit Ramani highlighted that Tier 2 cities will be a key expansion area for the company in the future. Awfis plans to allocate a significant portion of the IPO proceeds towards establishing new centers.

IPO-Bound IndiQube’s Loss Widens 72% To INR 341.5 Cr In FY24

Inc42 · 7m ago

IPO-Bound IndiQube’s Loss Widens 72% To INR 341.5 Cr In FY24

IndiQube, a coworking space provider, experienced a 44% increase in operating revenue, reaching INR 867.66 crore in FY24. However, its financial losses widened by 72% to INR 341.5 crore due to a significant rise in the loss on fair valuation of financial liabilities, which more than doubled to INR 268.95 crore. The company has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) worth INR 850 crore.

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Inc42 · 1y ago

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Ola Electric has filed for an IPO to raise INR 5,500 Cr by issuing new shares. The startup's sales in the first three months of FY24 reached INR 1,242.7 Cr, almost half of the revenue reported in FY23. Ola Electric's primary source of revenue comes from two-wheeler sales. The company reported a net loss of INR 268 Cr in Q1 of FY24 and a net loss of INR 1,471.6 Cr in FY23. Its major expenditure is on procurement, which accounted for 76% of total expenses in Q1 of FY24. Ola Electric competes with Ather, Bounce Infinity, Hero, Revolt, TVS, Okinawa, among others.

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