FirstCry Q1: Loss Narrows 35%, Revenue Up 13%
Children's wear brand FirstCry reported a 35% year-on-year decrease in net loss to ₹44 Cr for the first quarter, alongside a 13% rise in revenue to ₹2,106 Cr.
Children's wear brand FirstCry announced its consolidated net loss narrowed by 35% to ₹44 Cr in the first quarter, compared to ₹66.5 Cr in the same period last year. Sequentially, the loss decreased by approximately 9% from ₹48.2 Cr.
Operating revenue for the quarter grew 13% year-on-year to ₹2,106 Cr. On a sequential basis, revenue saw a 3% decrease from ₹2,162.7 Cr.
Including other income of ₹48.9 Cr, total income for the quarter reached ₹2,153.1 Cr. Total expenses, excluding depreciation and amortization, increased 12% year-on-year to ₹2,046.6 Cr. Adjusted EBITDA stood at ₹89.3 Cr.
FirstCry's India business revenue grew 18% year-on-year to ₹1,456 Cr, while its international business revenue increased 12% to ₹232.1 Cr, with gross margins improving to 27.7% from 24.9%. The company noted its strongest consolidated revenue growth in five quarters and its best India business revenue growth in seven quarters.
The 'house of brands' vertical, GlobalBees, contributed an additional ₹424.3 Cr in revenue, with adjusted EBITDA profits quadrupling to ₹16.7 Cr due to a focus on margin expansion. The company also expanded its rapid delivery service, RocketBees, to 72 cities, improving turnaround times by 20%.