Monday, December 23

Tag: revenue growth

Magicbricks Posts 20% Growth in Revenue in 2016-17
13Jun By Press Trust of IndiaNo Comments
BUSINESS

Magicbricks Posts 20% Growth in Revenue in 2016-17

Realty portal Magicbricks today reported 20 per cent growth in revenue during last fiscal at Rs 132.6 crore. It posted 30 per cent growth in revenue during the fourth quarter at Rs 36 crore, Magicbricks said in a statement. "While there has been short-term pressure on the pace of growth post demonetisation, we saw search queries recovering strongly in the fourth quarter of 2016-17, indicating consumer sentiment revival. We beat the slowdown through a series of initiatives across product innovation, traffic growth, channel initiatives and partnership alliances," Magicbricks CEO Sudhir Pai said. In the ongoing fiscal, the company plans to launch a series of new business lines around commercial real estate, the rental segment, luxury and NRI segments. It will also integrate produc...
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E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End
5Dec By AnkitaNo Comments
BUSINESS

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket today said it has seen 300 per cent growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end. With four million registered customers, the Bengaluru based firm expects to become profitable by March 2018. "In the past year alone, we have seen over a 300 per cent growth and continue to grow by 10 per cent on a month-on-month basis. We hope to triple revenues to Rs 2,000 crore by March 2017," BigBasket co-founder Vipul Parekh told Pixr8. Parekh added that the company's revenue has grown from Rs 178 crore in FY2015 to Rs 700 crore in FY2016. "However, these numbers do not include the impact of demonetisation that has in fact, pushed our sales up ...
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