BookMyShow's net loss widens to Rs 140.25 crore for FY18; revenue from operations increase 28.8% to Rs 386.07 crore
BookMyShow spokesperson said the company continues to make strategic and long-term investments.
New Delhi: Bigtree Entertainment, which owns and operates online ticketing platform BookMyShow, reported a wider net loss of Rs 140.25 crore for the fiscal ended March 2018, according to regulatory documents.
The company had posted a net loss of Rs 128.4 crore in the previous fiscal, according to the documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler.
Revenue from operations, on the other hand, increased 28.8 percent to Rs 386.07 crore in FY2017-18 from Rs 299.57 crore in FY2016-17.
Employee benefit expenses during 2017-18 increased to Rs 119.36 crore from Rs 75.45 crore in the previous fiscal.
When contacted, a BookMyShow spokesperson said the company continues to make strategic and long-term investments.
"BookMyShow continues to make strategic and long-term investments in new and existing businesses and expanding geographies, many of which are already yielding results as evident from our strong growth in revenues," the spokesperson said.
"Keeping the customer at the core of all our decisions and in line with our vision, these investments form a significant part of our business strategy and are vital for the overall development of the ecosystem we operate in," the spokesperson further stated.
In July this year, BookMyShow had announced raising $100 million (about Rs 685 crore) in a funding round led by TPG Growth.
According to the company's website, BookMyShow's platform facilitates over 15 million ticket bookings a month and has more than 30 million customers.
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