FirstCry narrows losses by over 80% in FY20

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Updated: December 01, 2020 1:09 AM

Founded in 2010, FirstCry runs over 400 stores across India and claims to have seen more than 10 million app downloads. In 2016, the company acquired the BabyOye retail brand from Mahindra.

Total expenses reduced by 28.45% to Rs 1,050.50 crore in the previous financial year, data showed.

FirstCry narrowed its net losses by more than 80% to Rs 162.72 crore in the year up to March 31, 2020, according to the company’s regulatory filings sourced from business intelligence platform Tofler. The company’s revenue from operations increased to Rs 805.49 crore in FY20 from Rs 507.83 crore in FY19.

Total expenses reduced by 28.45% to Rs 1,050.50 crore in the previous financial year, data showed.

The Pune-based omnichannel retailer that sells baby products bagged a $400 million investment commitment from SoftBank in 2018. The company has received about $300 million of the funding amount so far that is to be infused in tranches. In all, the company has raised $428.4 million in capital, data sourced from Crunchbase showed.

Founded in 2010, FirstCry runs over 400 stores across India and claims to have seen more than 10 million app downloads. In 2016, the company acquired the BabyOye retail brand from Mahindra.

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