FirstCry Clocks INR 1,407 Cr Sales In Q1 FY24

SUMMARY

In FY24, Brainbees Solutions Limited reported a sales of INR 1,406.9 Cr on a consolidated basis

In the Q1 of FY24, FirstCry incurred a net loss of INR 110.4 Cr

In the first quarter of FY24, the startup spent INR 159.2 Cr for employee benefit expenses

SoftBank-backed omnichannel retail startup FirstCry has finally filed its draft red herring prospectus (DRHP) with the market regulator SEBI for raising INR 1,816 Cr through fresh issues of shares. The IPO offer also comprises an offer-for-sale complement which will allow the startup’s investors to sell up to 5.4 Cr equity shares. If we talk about the startup’s financials, in the first three months of the ongoing financial year i.e., FY24, Brainbees Solutions Limited has reported a sales of INR 1,406.9 Cr on a consolidated basis. The ecommerce unicorn primarily earns from selling babycare products on its platform. Including other income, FirstCry’s total income in Q1 of FY24 stood at INR 1,426.8 Cr. The first three months’ sales is almost 25% of the startup’s entire FY23 sales. In FY23, FirstCry’s consolidated operating revenue stood at INR 56,32.5 Cr, a 135% increase from INR 2,401.2 Cr it had reported in the previous fiscal year. Including other income, total income stood at INR 5,731.2 Cr in FY23, a jump of 127.7% from INR 2,516.9 Cr in FY22. In the Q1 of FY24, FirstCry incurred a net loss of INR 110.4 Cr. FirstCry posted a consolidated net loss of INR 486 Cr in the financial year 2022-23 (FY23), a 518% increase from INR 78.6 Cr in the previous fiscal year.

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