BookMyShow posts 20% jump in revenues at ₹400.7 crore for FY18
BookMyShow also incurred a net loss of ₹140.2 crore during 2017-18 against ₹128 crore in the last financial year
New Delhi: Bigtree Entertainment Pvt. Ltd, which owns online ticketing platform BookMyShow.com, has posted a 20% jump in revenues at ₹400.7 crore for the year ending March 2018, according to regulatory documents filed with the Registrar of Companies and sourced from business intelligence platform Tofler.
The company reported total revenues of ₹332.4 crore in 2016-17. It also incurred a net loss of ₹140.2 crore during 2017-18 against ₹128 crore in the last financial year.
BookMyShow’s expenses increased on account of employee benefit costs in 2017-18. It reported total expenses of ₹541 crore, including employee costs (salaries, gratuity and PF contribution) of ₹119.3 crore.
The Mumbai-based company has been competing with rival Paytm in the online ticketing segment. Paytm, which entered the segment in 2016, claims to have sold 52 million tickets in 2017 and continues to aggressively expand its entertainment vertical.
Founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, BookMyShow raised $100 million (nearly ₹700 crore) in Series D funding from investors led by equity investment platform TPG Growth. It has raised $245 million over five rounds cumulatively, according to data from Crunchbase.
The company is valued at Rs 396 crore, according to its filings. BookMyShow counts Stripes Group, Accel Partners, SAIF Partners and Network18 as its existing investors.
While the core business for BookMyShow is movie ticketing, the company has diversified into categories such as sports and music events, including plays, in recent years. Last year, it acquired Burrp, a local restaurant recommendation engine, from Network18. More than half of the business for BookMyShow still comes from movie ticketing.
BookMyShow is present in over 650 towns and cities in India and serves more than 25 million customers. Over the years, BookMyShow has grown to become one of the largest transacting e-commerce platforms in the country with over 10 million tickets booked every month on its platform.
The company forayed into international ticketing in July this year and plans to set up base in 15-25 countries frequently visited by Indians, Mint reported. The company has offices in Sri Lanka, Indonesia, New Zealand and the United Arab Emirates.
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