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Quikr India's income goes up 48% in FY19

Dec 27, 2019 by The Passage Team
Quikr India's income goes up 48% in FY19

Quikr India's total income for the 2019 fiscal year rose 48% to Rs 201.5 crore, with losses down marginally to Rs 228.8 crore, according to the regulatory filings.

Net revenue from operations rose 75% to Rs 191 crore, while the company's cash balance at the end of the fiscal year stood at Rs 87 crore.

The company clarified in an emailed statement that "as per the new requirement of Ind AS 115, we have to net off our incentives and other compensation to customers from the revenue and hence we have restated our numbers for FY17-18 and have reported FY18-19 numbers as per the new standard too."

Source: Economic Times

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