Brainbees Solution, the parent company of FirstCry, narrowed its losses by 31.4% year-on-year to Rs 75.6 crore in the first quarter of FY25, according to regulatory filings made with BSE.
The baby and mothercare products retailer posted a 17% rise in its operating revenue—from Rs 1,407 crore in Q1 FY24 to Rs 1,652 crore in the three months ended June 30, 2024. It clocked a 17% quarter-on-quarter rise in its GMV to Rs 2,318.3 crore, according to an investor presentation.
The company also announced an investment of AED 50 million in its UAE-based subsidiaries under its global expansion plan. The investment is expected to be completed in the next 7 months.
“It will enable the growth of the business in UAE and KSA regions.” said the company in a filing.
Its Indian operations continue to be its biggest segment, clocking a growth of 16% YoY while its international segment grew by 6.5% during the first quarter of FY25.
Globalbees, FirstCry’s house of brands entity, posted a 26% YoY rise in operating revenue to Rs 324.5 crore.
The Supam Maheswari-led company’s total expenses jumped 12.6% during the period, mainly driven by employee benefit expenses, cost of materials, and purchase of stock-in-trade.
FirstCry listed on domestic bourses with a robust debut after its IPO was oversubscribed 12.2 times on day 3 of bidding, mainly pulled by bids from qualified institutional investors.
Shares of the company closed 1.86% higher at Rs 640 apiece on NSE.
