BookMyShow.com, India’s leading online entertainment ticketing platform posted Rs.3.1 crore profit on moday for the year ended 31 March, against a loss of Rs.13.5 crore in the year-ago period.
Bigtree Entertainment Pvt. Ltd also known as Bookmyshow, Revenue rose to Rs.248 crore in the period from Rs.130 crore. Revenue from online ticket booking doubled to Rs.176.7 crore from Rs.88.4 crore.
The company was founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the Mumbai-based online ticketing company raised over Rs.550 crore in its fourth round of funding in July led by US-based Stripes Group with existing investors Network 18, Accel Partners, and SAIF Partners participating. The funding valued the company at Rs.3,000 crore.
BookMyShow is present in over 350 towns and cities and is looking to grow its user base in Tier two towns and cities. The company sold an average of 7.8 million ticket per month in the financial year 2015-16.
The ticketing platform recently raised Rs 550 crore funding led by US based growth fund Stripes Group. The company valued more than Rs 3,000 crore. BookMyShow currently gets 60% revenue from movie ticketing, while the remaining 40% comes from sports, live shows and plays.