The company reported another net loss for the quarter, even though it narrowed to ₹48.2 crore from a loss of ₹111.5 crore it reported during the same quarter last year.
Revenue for the company increased by 12% year-on-year to ₹2,162.6 crore, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter more than quadrupled to ₹70.1 crore from ₹15.9 crore in the year-ago period.
EBITDA margins saw an expansion to 3.2% from 0.8% last year.
How Did The Business Segments Fare
Brainbees’ India multi-channel business, which is the core margin driver for the company, saw revenue growth of 11.4% from last year.
However, the vertical’s Earnings Before Interest & Tax (EBIT) for the quarter dropped 12.7% year-on-year to ₹109.1 crore from ₹125 crore last year.
Margins for this segment also narrowed to 7.3% from 9.3% earlier. The segment is also the primary revenue contributor to the company.
The International business segment saw revenue growth of 9.4% from last year, while its EBIT loss narrowed to ₹20.6 crore from ₹30.7 crore a year earlier.
Globalbees, another business vertical did well during the quarter, as its EBIT jumped from ₹2.9 crore last year to ₹26.4 crore and margins also expanded to 5.7% from 0.7% earlier.
Shares of Brainbees Solutions fell 6.4% on Wednesday to ₹222. The stock is down 23% so far this year. With Wednesday’s fall, the stock is now down over 50% from its issue price of ₹465.
