FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6%.
FirstCry received approval for its initial public offering (IPO) from the Securities Exchange Board of India (SEBI) earlier this month.Ahead of the IPO, the company has disclosed its annual financial report for the fiscal year ending March 2024.The Pune-based firm’s revenue grew 15.1% in the last fiscal year but its losses shrank 34% during the same period (FY24).
FirstCry’s operational revenue rose to Rs 6,481 crore in FY24 from Rs 5,633 crore in FY23, according to its consolidated financials filed with the RoC.The sale of its products through its offline stores and website was the primary source of revenue for FirstCry in FY24.Notably, its subsidiary GlobalBees has contributed Rs 1,209 crore income to FirstCry group.FirstCry earned Rs 94 crore from investments, bringing its total revenue to Rs 6,575 crore in FY24.
The cost of materials made up 60.3% of FirstCry’s expenditure, rising 18.8% to Rs 4,163 crore in FY24 from Rs 3,504 crore in FY23.Its employee benefits, advertising, transportation, contracts, rent, legal, traveling, and other overheads took FirstCry’s overall cost up by 9.2% to Rs 6,897 crore in FY24 from Rs 6,316 crore in FY23.
FirstCry Revenue Surges to Rs 6,500 Cr, GlobalBees Adds 18.6%
