FirstCry Shares Tumble 5% During Morning Trade

SUMMARY

The stock rebounded yesterday by surging over 17% after it recorded 52-week low on Wednesday (March 5)

During the intraday trade today, it again turned to red with its market capitalisation dropping to INR 20,671 Cr at 11:58 AM

At the current market price, the stock lost over 41% in the past one year and over 5% in the last month

Shares of FirstCry’s parent Brainbees Solutions slipped over 5% to INR 394.20 during the intraday trading session on the BSE today (March 7) after surging as much as 17% in the previous trading session.

The stock rebounded yesterday after touching its 52-week low of INR 356.55 on Wednesday (March 5).

During the intraday trade today, it again turned to red with its market capitalisation dropping to INR 20,671 Cr at 11:58 AM. By that time, more than 6.8 Lakh shares of FirstCry exchanged hands.

At the current market price, the stock lost over 41% in the past one year and over 5% in the last month.

Notably, FirstCry also allotted 9.84 Lakh equity shares to its workforce under various employee stock option plan (ESOP) schemes.

On the financial front, the company narrowed its consolidated net loss 69.5% to INR 14.78 Cr in the third quarter of the current fiscal (Q3 FY25) from INR 48.41 Cr in the year-ago quarter on the back of healthy growth in its top line. Sequentially, net loss contracted 76.5% from INR 62.85 Cr.

Its revenue from operations surged 14.3% to INR 2,172.30 Cr during the quarter under review from INR 1,900.19 Cr in Q3 FY24. On a quarter-on-quarter basis, it went up 14% from INR 1,904.91 Cr.

Recently, the company also announced plans to invest INR 300 Cr in its wholly-owned subsidiary, Digital Age Retail Private Limited, to establish new modern stores and make lease payments for existing stores.

FirstCry has a strong presence in India and has expanded internationally to the United Arab Emirates (UAE) and Saudi Arabia (KSA).

In India, it operates through a multi-channel approach, including an online platform, mobile app, and over 1,000 physical stores across cities such as Pune, Bangalore, Hyderabad, Mumbai, Delhi, Chennai, Kolkata, and Ahmedabad.