FirstCry parent Brainbees trims losses by 47% for Q2

Pune-headquartered Brainbees Solutions, the parent company of FirstCry, pared its losses by nearly 47% in Q2 of FY25 at Rs 62.9 crore over the corresponding quarter in the previous year.

On a consolidated basis, Brainbees, which owns and operates kids and mother care brands FirstCry and BabyHug, as well as the house of brands GlobalBees, reported nearly Rs 1,905 crore in revenue from operations for the quarter, a 26.4% increase from Q2 FY24. 

Similarly, revenue from operations across its India and international businesses, along with GlobalBees, indicated a steady climb, even though its contribution to margins halved for Q2 FY25 on an annual basis. 

The SoftBank-backed company recorded 19% year-on-year growth in revenue for Q2 FY25 for its multi-channel operations in India from FirstCry and BabyHug brands (including online transactions and offline stores), while the international business of these brands grew 25% for the said period.

GlobalBees, in which Brainbees holds a 50.73% stake, reported a 55% increase in revenue for Q2 FY25 compared with the corresponding quarter in the previous financial year. 

The group also claimed its inventory, property, plant, and equipment at Hooghly and Bhiwandi warehouses were destroyed in a fire and heavy rains, and flooding impacted the company’s international business in Dubai and Sharjah in the UAE in April 2024. 

Shares of Brainbees, which listed on the Indian bourses on August 13, 2024, hit a low of Rs 526.4 per share on November 11, 2024, as the company had to make a payout of Rs 1.74 crore due to GST mismatch. It has raised Rs 1,666 crore from the markets.

The company shares closed at Rs 519.10 apiece on Thursday on BSE. The omnichannel retailer had set its IPO price band between Rs 440 - Rs 465 per equity share, and listed at a premium of 34% at Rs 625 apiece.