Brainbees Solutions, the parent company of baby and kids retailer FirstCry, narrowed its consolidated net loss by 75% in the September quarter as revenue grew at a faster pace than costs.
The Pune-based company reported a net loss of Rs 12.6 crore for the quarter ended September 30, 2026, against Rs 50.5 crore a year earlier. Revenue from operations rose 14.1% to Rs 2,395.8 crore from Rs 2,099.1 crore in the same quarter last year.
The board approved the results at a meeting held on Saturday, November 14, and the company has published them on its investor relations page.
Costs grew more slowly than revenue
Total expenses rose 13.1% to Rs 2,303.2 crore, trailing the 14.1% rise in revenue. That gap is what pulled the loss down so sharply, and it shows across the cost lines of the business.
Material procurement, the largest expense, rose 16.9% to Rs 1,554 crore as sales volumes grew. Employee benefit expenses fell 10.8% to Rs 181 crore, while other expenses rose 12.6% to Rs 568 crore.
Share-based payment costs also dropped sharply. ESOP expenses fell 57.5% to Rs 24.9 crore during the quarter, easing one of the heavier charges on the profit and loss account.
The quarter improved on the June quarter too
Revenue rose 13.7% from Rs 2,106.2 crore in the June quarter, while the net loss narrowed 71.4% from Rs 43.9 crore. The improvement came on both fronts at once, with sales rising and losses shrinking.
For the first half of the financial year, revenue from operations grew 13.6% to Rs 4,502 crore from Rs 3,962 crore. The net loss for the six months narrowed 51.7% to Rs 56.5 crore from Rs 117 crore a year earlier.
Total income for the quarter, including other income of Rs 41.8 crore, rose 14% to Rs 2,437.6 crore. Loss per share narrowed to 14 paise from 73 paise in the year-ago quarter.
FirstCry is not the only listed startup reporting this week. Zetwerk also published its first results since listing, with revenue of Rs 4,599 crore for the same quarter.
The standalone business turned a profit
The standalone accounts tell a stronger story. Revenue from operations stood at Rs 758.8 crore for the quarter, and the business reported a profit of Rs 39.2 crore for the period.
That matters because the standalone business covers the core India retail operation. Its profit shows the main business can make money even as the wider group, which includes GlobalBees and the international business, remains in the red.
Sixteen years from a Pune startup to a listed retailer
FirstCry was founded in November 2010 by Supam Maheshwari and Amitava Saha, who had earlier built and sold the e-learning company Brainvisa. The two started the platform after struggling to find quality baby products for their own children.
The company now runs more than 1,000 stores across India alongside its website and mobile app, selling over two lakh products from more than 5,800 brands. Its own labels include BabyHug and CuteWalk.
FirstCry expanded to the United Arab Emirates in 2019 and Saudi Arabia in 2022. It listed on the NSE and BSE in August 2024 under its parent company BrainBees Solutions.
Along the way, the founders also built two more companies from inside FirstCry. The logistics arm became XpressBees, and the house of brands business became GlobalBees, in which FirstCry holds a majority stake.
What comes next
The December quarter is the festive quarter for Indian retail, and it is usually the strongest period for sellers of baby and kids products. FirstCry will need the momentum of the September quarter to carry into that period.
The direction of travel is clear. Revenue is growing in double digits, costs are rising more slowly, and the loss has narrowed in every comparison that matters. The question now is how soon the group as a whole can follow its standalone business into profit.
