Quikr India gross income up 68 pc to Rs 293 Cr



Online classifieds and services portal Quikr IndiaConsolidated gross revenue for FY19 increased 68% to Rs 293 crore from Rs 175 crore for FY18.

The net operating income increased 75 percent to Rs 191 crore, compared to Rs 109 crore the previous year, the company said. The firm losses have decreased slightly at Rs 230 crore from Rs 237 crore in FY 17-18.

The company said: “In accordance with the new requirement of Ind AS 115, we have to deduct our incentives and other compensations to customers from revenue. gross business, which is consistent with our previous years since we verticalized our business. ”

The Bangalorebased company, which started its activities in 2008, has raised nearly $ 441 million in capital to date and has made 15 acquisitions, including Zefo, Babajob, Zimmber, Grabhouse, StayGlad, CommonFloor, Stepni, and a few others. Its investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, NGP Capital, Steadview Capital, and Omidyar Network, among others.

Quikr last raised Rs 20 crore in debt financing from Capital of Trifecta in July of this year and is currently valued at just over $ 1.5 billion.

The startup also received Rs 13.9 crore on May 27 from its Mauritius-based entity. The Pranay ChuletThe company run by the company had issued 14,940 participating shares at a premium of 9,300 rupees per share to Quikr Mauritius Holding Ltd.

In May 2019, Quikr also partnered with Asia’s largest certified remanufacturer and excess inventory brand. Rocking offers to provide offline services to its customers.

Quikr, which claims to have over 30 million unique users per month, is present in 1,200 cities in India, and operates classified businesses across C2C, cars, education, homes, jobs and services through its mobile app and website.

(Edited by Teja Lele Desai)



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