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Jabong revenues increase 14% YoY to Rs 243.78 Cr in Q1 2016

Jabong

Rocket Internet-backed fashion etailer Jabong reported revenues of Rs 243.78 crore in the first quarter of 2016, up 14% year-on-year (YoY) from Rs 213.87 crore in the corresponding quarter last year. Revenues increased 11.55% quarter-on-quarter (QoQ) from Rs 218.53 crore in Q4 2015.

The company also mentioned that the revenue generated by the Jabong app now accounts for 65% of the company’s net revenue.

For the year ended December 31, 2015 (FY15), the company reported revenues of Rs 913.06 crore, up 22% from Rs 748.54 crore in FY14.

The company reported Gross Merchandise Value (GMV) of Rs 410.54 crore for Q1 2016, up 8.4% YoY from Rs 378.38 crore in Q1 2015, and up 8.7% QoQ from Rs 377.73 crore in Q4 2015. GMV increased 28.9% to Rs 1579.35 crore in FY15 from Rs 1224.89 crore in FY14.

The company reported a gross profit of Rs 1.49 crore for Q1 2016, as compared to a loss of Rs 11.21 crore in the same period last year. The company reported an operational (EBITDA) loss of Rs 88.98 crore, down from a Rs 121.89 crore loss in Q1 2015.

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Value of transactions & orders shipped

The total value of transactions in Q1 2016 stood at 2.6 million, an increase of 20.3% from 2.1 million in the same period last year.

The company hasn’t shared details of total orders shipped in Q1 2016. In the previous quarter, the company reported that 1.2 million orders were shipped in the period stood, a decline of 41.5% from 2 million in Q4 2014. Jabong had also reported average order size as Rs 3144 for Q4 2015, down 20.3% from Rs 3943 per order for Q4 2014. For Fy15, however, order value was up 24.3% to Rs 2783 per order, from Rs 2238 per order in 2014 and Rs 1967 per order in 2013.

Leadership changes

– Earlier this month, Jabong appointed Rahul Taneja as its Chief Business Officer (CBO). Taneja is responsible for category management, pricing, brand marketing and creative campaigns at Jabong, and will report to CEO & MD Sanjeev Mohanty. Taneja joined Jabong from Snapdeal, where he was the head of category management for a year.

– In February of this year, the company had appointed Muralikrishnan B as its COO. Muralikrishnan reports to Sanjeev Mohanty, CEO and MD of Jabong and looks after the technology, product and digital marketing functions. He also guides and assists in product management for other Global Fashion Group (GFG) companies, of which Jabong is a part.

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