BookMyShow posts Rs 401 Cr revenue at Rs 140 Cr net loss in FY18

BookMyShow

One of the largest players in online ticketing platform for entertainment based activities, BookMyShow has been on a decline since Paytm came up as the major competition.

The projected 40 per cent YoY revenue growth of the company seems to have taken a hit in FY18 where the revenue figure only increased by 20.56 per cent from Rs 332.38 crore to Rs 400.72 crore in a span of one fiscal year.

The losses for the company have also increased, albeit by 9.23 per cent, going slightly up from Rs 128.41 crore to Rs 140.26 crore in FY18, as per Tofler reports.

While the overall expenses of the company took a 17.4 per cent hike, going up from Rs 460.79 crore to Rs 540.97 crore, the employee benefit expense (largest area of expenditure) soared 58.2 per cent to Rs 119.36 crore.

The company seems to be taking steps to better this performance. This month it partnered with Razorpay to help in making the UPI based transaction process easier for the customers. 

The ticket booking platform claims to have 35 million Monthly Active Users (MAUs) as of mid-October 2018.

In July, the company had picked up s $100 million worth Series D funding round led by TPG Growth. Earlier this year, the company had pulled the plug on wallet due to RBI guidelines that made UPI look like a better option.

However, even with all the fundings and growth plans, the future of BookMyShow leaves a huge scope for improvement, especially with the tough competitive fight put up by Paytm and its loyalty programmes like Moviepass.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here