FirstCry logs 17% rise in revenue, lower loss in Q1 FY25
Brainbees Solutions Ltd, the parent firm of baby and mother care product retailer FirstCry, on Friday reported a 17% growth in operating revenue to Rs 1,652 crore for the quarter ended June 30, 2024.
For the first quarter of fiscal year 2025, the omnichannel retailer said its net loss stood at Rs 75 crore, against a loss of Rs 110 crore a year ago.
The firm saw its gross merchandise value (GMV), a proxy for net sales, grow 17% from a year ago to Rs 2,318 crore in the quarter ended June 30, 2024.
In India, the firm had a customer base of 9.5 million annual unique transacting customers as of June 2024, a 15% growth from June 2023. It also added 20 offline stores in India in the first quarter of FY25.
In the international markets, FirstCry had a customer base of 400,000 annual unique transacting customers as of June 2024, a growth of 39% from June 2023. The firm’s order volumes were impacted due to floods in the UAE and the advancement of festive purchases due to Eid falling in early April this year.
“We can say with confidence that our order volumes are now back on track as of July and August in the UAE and KSA (Kingdom of Saudi Arabia),” cofounder and chief executive Supam Maheshwari said.
In the international markets, average order value grew 13% from the final quarter of FY24 to Rs 8,669 in the first quarter of FY25, while GMV grew 12% in the same timeline to Rs 379 crore.
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