FirstCry’s parent company, Brainbees Solutions, has announced a substantial 69.6 per cent year-on-year reduction in net losses for the October-December 2024 quarter, reaching approximately US $ 1.68 million (Rs. 14.7 crore). This improvement is attributed to robust topline growth, with consolidated operating revenue increasing by 14.3 per cent to approximately US $ 248.8 million (Rs. 2,172.3 crore), compared to approximately US $ 218.4 million (Rs. 1,900.1 crore) in the same period last year.
The company highlighted that Q3 FY25 was its most profitable quarter in the last four years, achieving the highest adjusted EBITDA for both its consolidated business and India multi-channel business during that period.
Revenue from FirstCry’s India multichannel business grew by 15 per cent to approximately US $ 172.8 million (Rs. 1,510 crore), while its international business saw a modest increase to approximately US $ 30 million (Rs. 261 crore) from approximately US $ 26.4 million (Rs. 230 crore) last year. GlobalBees, a subsidiary, contributed approximately US $ 48.2 million (Rs. 422 crore) to the total revenue. The company explained that growth in the international business was impacted by increased promotional activity from new horizontal e-commerce players.
Despite the strong revenue performance, FirstCry’s consolidated expenses rose to approximately US $ 236.8 million (Rs. 2,064 crore), up from approximately US $ 211.2 million (Rs. 1,841 crore) in the previous quarter. The cost of materials increased by 23.5 per cent to approximately US $ 22.1 million (Rs. 192.8 crore), and employee benefits expenses rose by 12.8 per cent to approximately US $ 17 million (Rs. 148.9 crore).
FirstCry, which went public on Indian stock exchanges on 13th August, debuted with a 40 per cent premium over its issue price of approximately US $ 6.27 (Rs. 549). The company currently boasts an annual transacting consumer base of 9.8 million and offers 1.8 million SKUs from 8,023 brands across its platforms.
According to its red herring prospectus, FirstCry plans to use the proceeds from its IPO to establish new ‘BabyHug’ stores, construct warehouses, invest in its subsidiary Digital Age, expand GlobalBees brands, support international expansion, and fund sales and marketing initiatives.
