FirstCry shares fall 3% after Q1 results show wider sequential loss
The company reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024, from Rs 90 crore reported by the company in the year-ago period.
The revenue from operations stood at Rs 1,652 crore, which was higher by 17% compared to Rs 1,407 posted in the corresponding quarter of the previous financial year.
However, on a quarter-on-quarter (QoQ) basis, the net loss for the reported period widened from Rs 52 crore reported by the company in Q4FY24. The revenue was also down 0.9% sequentially versus Rs 1,667 crore posted in the January-March quarter.
The company's consolidated adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the reported quarter stood at Rs 74.3 crore which jumped by 106% on the YoY basis.
This is the company's first quarterly earnings after it was listed on the bourses on August 13.
The annual unique transacting customers stood at 9.5 million, up 15% versus June 2023, the company filing claimed. The India multi-channel business reported growth in order volume at 9 million Q1FY25, which was a YoY growth of 19%. It offset the marginal decline in average order value (AOV).
The Firstcry parent saw continued momentum in GMV at Rs 1,939 crore Q1FY25 GMV, an 18% YoY growth.
Offline channel expansion continued with net addition of 20 new COCO stores (Babyhug and FirstCry) in Q1 FY25. The share of COCO stores increased from 34% in Q1 FY24 to 42% in Q1 FY25.
As of 12:43 pm, THE shares were trading 1.5% lower at Rs 632 on the BSE. The
