FirstCry parent firm Brainbees Solutions posts narrower loss of ₹63 crore in Q2; revenue rises 26% YoY

Brainbees Solutions, parent of FirstCry, on Thursday, November 14, reported a decline in consolidated net loss to ₹62.85 crore for the quarter ended September 2024 (Q2) from ₹119.4 crore in the year-ago period. Even on a sequential basis, the net loss witnessed a drop from ₹75.6 crore posted in the June 2024 quarter.

Meanwhile, its revenue from operations stood at ₹1,904.91 crore in the recently-concluded quarter, up 26.41 per cent year-on-year (YoY). The figure stood at ₹1,506.88 crore in the quarter ended September 2023. On a quarter-on-quarter (QoQ) basis, the revenue increased by 15 per cent from ₹1,652.07 crore.

Operating performance remained strong in Q2 of fiscal 2024-25 (FY25), with Brainbees Solutions reporting a 66 per cent growth in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) at ₹80.1 crore, and adjusted EBITDA margins of 4.2 per cent, up from 3.2 per cent in the previous year quarter.

Segment-wise performance

Revenue growth was strong across all segments, with India Multi-channel business delivering a 38 per cent YoY growth in Adjusted EBITDA along with revenue growth of 19% YoY.

International business regained growth momentum in Q2 FY25, the company said in an investor presentation, with the segment delivering a 25 per cent YoY revenue growth. Meanwhile, GlobalBees delivered a revenue growth of 55 per cent YoY in Q2 FY25.

The gross merchandise value (GMV), which represents the monetary value of orders inclusive of taxes and gross of discounts, stood at ₹2,528.6 crore in Q2 FY25, registering a growth of 21 per cent year-on-year.

This was the second quarterly results by Brainbees Solutions since its listing on the bourses in August 2024. While the stock had debuted at a solid premium of 40 per cent at ₹645, it has since then witnessed a decline. Currently, the stock is down 17 per cent from its listing price and 12 per cent from its issue price of ₹465.

The stock closed the session flat at ₹519.10, up 0.05 per cent, on the BSE today. The company declared its earnings post market hours today.

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