Quikr Narrows Its losses to ₹230 Crore on 74% revenue Jump in FY 2019

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Online classifieds and services portal Quikr narrowed its losses to ₹230.04 crore in the financial year ended March 2019 from ₹237.43 crore loss a year ago. The Bengaluru-based startup reported a 74% year-on-year increase in revenues for FY19 to ₹191.22 crore, according to documents sourced from the Ministry of Corporate Affairs.

The startup’s total expenditure stood at ₹436.83 crore in FY19, a 16% year-on-year increase compared to ₹375.95 crore expenses reported last year.

Most of Quikr’s revenue in FY19 came from “marketing and management service fee” generated from its home rental product which stood at ₹85.15 crore in FY19 compared with just ₹7.5 crore in FY18.

Other revenue channels for the startup include paid advertising revenue ( ₹50.1 crore), commissions ( ₹49.54 crore), lead referral fee ( ₹39.2 crore), and revenue generated from on-demand beauty services ( ₹24.48 crore).

“For FY18-19, we have witnessed 68% growth in our gross revenue which is consistent with our previous years since we verticalized our business,” said Quikr spokesperson.

Credits: Livemint

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