HomeStartupFirstCry Clocks Rs 1,407 Crore Sales In Q1 FY24

FirstCry Clocks Rs 1,407 Crore Sales In Q1 FY24

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FirstCry Founder Questioned For Alleged $50 Mn Tax Evasion
  1. FirstCry, a SoftBank-backed omnichannel retail startup, has filed its Draft Red Herring Prospectus (DRHP) with SEBI intending to raise INR 1,816 Crores through fresh shares. Additionally, there will be an offer-for-sale of up to 5.4 Crore equity shares by existing investors.
  2. In the first quarter (Q1) of FY24, Brainbees Solutions Limited (the parent company of FirstCry) reported consolidated sales of INR 1,406.9 Crores. Total income, including other sources, for the same period was INR 1,426.8 Crores. This Q1 sales figure represents about 25% of FirstCry’s total sales in FY23.
  3. Despite substantial revenue growth, FirstCry faced losses. In Q1 of FY24, it recorded a net loss of INR 110.4 Crores.
SourceINC 42

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