BookMyShow parent’s loss narrows, topline rises

NEW DELHI: Big Tree Entertainment, which owns and operates online entertainment ticketing platform BookMyShow, has narrowed its loss for financial year 2018-19, while its topline went up by more than 52% over the 12 month period ended March 31, 2019.

On a consolidated basis, the Mumbai-based company reported net loss of Rs 115.19 crore, down almost 30%, compared to the year ago fiscal’s net loss of Rs 161.44 crore.

Total expenses, which includes employee benefit and marketing costs, among others, rose by 30% to Rs 733.55 crore over the same period. Revenue rose by more than 52% to cross Rs 619 crore for fiscal 2019, up from Rs 406.09 crore in FY 2017-19, as the Mumbai-based company recorded growth across multiple verticals, including live events, online ticket bookings and software, and turnkey ticketing solutions.


The strong results for fiscal 2019 come days after the company spun off its Southeast Asia business in Singapore while also raising capital from Jungle Venture Partners for the new entity, as reported by ET in its edition dated December 4. BigTree Entertainment is in the process of closing a new $100 million financing round with American multinational investment bank Goldman Sachs.

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