IPO-bound FirstCry reports 15% jump in FY24 revenue to Rs 6,481 crore, losses down 34%
IPO-bound baby and mother care products retailer FirstCry reported a 15% growth in operating revenue at Rs 6,481 crore in FY24, while it reduced losses by 34% to Rs 321 crore during the same period, per regulatory filings sourced through business intelligence platform Tofler.
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Globalbees–its ecommerce roll-up subsidiary–reported Rs 1,209 crore in revenue–contributing 18% to the parent’s revenue.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitFirstCry’s international business –Middle East– is seeing faster growth than domestic operations. 70% of revenue for Brainbees Solutions–which runs FirstCry–comes from India while the rest is from overseas.
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FirstCry’s international business reported a revenue of Rs 753 crore–growing by over 50%.
From the IPO proceeds, a significant part of the capital will be used for expansion in Saudi Arabia, the company had mentioned in its revised draft red herring prospectus (DRHP) in April.
Pune-based FirstCry is expected to file final IPO papers this week and list on the bourses before Independence Day, ET reported on July 29.
The SoftBank and Premji Invest–backed firm is likely to
