India-based general marketplace Quikr has posted a 4.7% year-on-year (y-o-y) increase in operating revenue for the 12 months to March 2023 (FY22-23).

According to Entrackr, Quikr’s disclosure to the Registrar of Companies states that operating revenue for FY22-23 was INR513 million ($6.2 million U.S.). The corresponding figure from the preceding financial year (FY21-22) stood at INR490 million. Quikr’s revenue grew for the first time in recent years, driven by lead referrals and advertising, which account for 90% of total revenue between them.

Quikr cut down its spending considerably in FY22-23. Expenses fell by 27% y-o-y to INR613 million from INR840 million in the year-earlier period. Quikr’s employee expenses decreased by 17% y-o-y to INR415 million. As a result, the company’s operating loss decreased by 62% y-o-y to INR79.8 million.

Founded in 2008 by Pranay Chulet, Quikr has raised a total of INR32.0 billion to date, with Sweden-based investment company Kinnevik its largest shareholder since 2015. Sonali Madbhavi, senior VP of public relations, quit the company recently.

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