06 April 2022, Mumbai:
IPO-bound omnichannel baby care-focused firm Firstcry has recorded a profit of Rs 215.94 crore for the financial year ended March 31, 2021, documents filed by the company and sourced through Tofler shows.
According to a senior company official, it is likely to double its profit for FY 22, which will be reflected in the draft red herring prospectus that the company is looking at filing by June quarter this year.
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This comes a year after the Softbank-backed Unicorn had posted a loss of Rs 190.8 crore for FY 20.
The startup entered the unicorn club in February 2020 with a $296 million Series E cheque from investors led by SoftBank.
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The company is now preparing for an initial public offering and has mandated investment banks Kotak Mahindra Capital Co. and Morgan Stanley to manage the issue.
“This is probably the only company after Nykaa that has carved a niche in a category and has turned in a profit.
There is considerable investor interest,” mentioned a funding banker.
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CREDITS: ET Pehal News TechI LivDose (The news article has not been edited by DFU publications staff).
