Quikr India’s revenue increases by 95% to touch Rs.173.49 crore in FY18

0
309

As per documents that were filed with the Registrar of Companies, Quikr India’s revenue almost doubled to touch Rs.173.49 crore during FY17-18 from Rs.88.67 crore in the previous financial year. The Bengaluru-based company commenced its operations in the year 2008. While the company initially earned its revenues through an ad-based listing model, it shifted to a full-stack transaction-based business during the course of the last two years.

Profit
Quikr India’s revenue increases by 95% to Rs.173.49 crore in FY18.

The numbers mentioned are Quikr India’s consolidated financials which include all the firms that it has acquired till FY18. The company has stated that more than 55% of its revenues in FY18 was driven by its organic business. In FY17, Quikr’s standalone revenue formed around Rs.64 crore of its total revenue that financial year.

In FY18, the company earned about Rs.98.25 crore through transactions, while the revenue from its classifieds business was Rs.75.23 crore. Mr. Pranay Chulet, the founder of the company, mentioned that the company’s transaction-led business will grow more rapidly in comparison to its classifieds business during the next 1-2 years.

Further, Quikr’s total losses also reduced by 28% to Rs.233 crore during FY18 from Rs.324 crore in the previous financial year.

The company has continued its positive growth during the first two quarters of the current financial year and expects to increase its total revenue to around Rs.350 crore.

The firm has continued to operate AtHomeDive and Commonfloor, which were acquired by it, as independent brands, while certain other companies that it acquired have been integrated with its business. The company claims that it gets more than 30 million unique consumers every month.

Quikr’s investors include Kinnevik, Tiger Global Management, Matrix Partners India, Warburg Pincus, Norwest Venture Partners, Steadview Capital, NGP Capital, and Omidyar Network.

Sources: The Economic Times, The Times of India

LEAVE A REPLY

Please enter your comment!
Please enter your name here