Highlights of financial results for Q3 FY 17-18
- Contribution Margin of 2.24 Cr for Q3 FY 17-18 vs 0.71 Cr for Q3 FY 16-17
- Net Revenue of 13.91 Cr for Q3 FY 17-18 vs 8.76 Cr for Q3 FY 16-17
- Contribution Margin Positive for last seven quarters
- Increase in Revenue while burn rate is decreasing
New Delhi, February 16, 2018: LatestOne.com, owned and operated by, Palred Technologies Ltd has declared net revenue of 13.91 Cr for Q3 FY 17-18 which is an 18% sequential growth quarter on quarter, while the losses have come down from 14% to 6%. LatestOne.com has been Contribution Margin positive for seven consecutive quarters and projected to become the first Indian e-commerce Company (e-tailer) to be contribution margin positive for two consecutive financial years (16-17 & 17-18). The quarter wise performance for FY 17-18 is shown below,
| Description | Quarter Ended | ||
| 30-Jun-17 | 30-Sep-17 | 31-Dec-17 | |
| Net Revenue | 10.35 | 11.82 | 13.91 |
| QoQ% | 14% | 18% | |
| Direct Costs | 9.4 | 10.53 | 11.67 |
| Contribution Margin | 0.95 | 1.29 | 2.24 |
| % of Net Revenue | 9% | 11% | 16% |
| Indirect Costs | 2.72 | 2.95 | 3.12 |
| Other Income | 0.05 | 0.05 | 0.04 |
| Net Loss | -1.72 | -1.61 | -0.84 |
| % of Net Revenue | -17% | -14% | -6% |
While the quarterly revenue is steadily rising, the burn rate is decreasing quarter on quarter. The number of orders processed per day has increased from 3,500 to 5,000 in the last 9 months.
The comparison with the previous financial year shown below,
| Description | Quarter Ended | Nine months Ended | ||
| 31-Dec-17 | 31-Dec-16 | 31-Dec-17 | 31-Dec-16 | |
| Net Revenue | 13.91 | 8.76 | 36.08 | 30.23 |
| QoQ / YoY | 59% | 19% | ||
| Direct Costs | 11.67 | 8.05 | 31.60 | 29.17 |
| Contribution Margin | 2.24 | 0.71 | 4.48 | 1.06 |
| % of Net Revenue | 16% | 8% | 12% | 4% |
| Indirect Costs | 3.12 | 2.57 | 8.79 | 7.68 |
| Other Income | 0.04 | 0.02 | 0.14 | 0.16 |
| Net Loss | -0.84 | -1.84 | -4.17 | -6.46 |
| % of Net Revenue | -6% | -21% | -12% | -21% |
Revenue has increased by 19% on year on year basis compared to same period FY 16-17 while the losses have come down from 21% to 12%.
With more than 10,000 SKU’s, LatestOne.com has the largest catalogue and inventory in the tech and mobile accessories vertical. By Combination of superior technology, fulfillment centers and digital marketing skills, LatestOne.com has reduced the cost of sales by way of high conversion rate which resulted in financial efficiencies. The growth of organic business to 17% has also contributed to substantial reductions in costs, while the revenue is increasing year on year.
Corporate Comm India(CCI Newswire)
