F irstCry’s parent company, BrainBees Ltd, has been fined INR 50,000 by the Legal Metrology Department, Varanasi, for violating provisions of the Legal Metrology Act, 2009. Despite this, the company’s shares rallied 5.95% to INR 550 on November 18, with a market capitalization of $3.37 Bn. Earlier this month, it paid INR 1.74 Cr for GST mismatches across multiple financial years. However, the compa
FirstCry’s parent company, BrainBees Ltd, disclosed that it received an “order of compounding” from the Senior Inspector of the Legal Metrology Department, Varanasi, on November 16. The company was fined INR 50,000 for violating Sections 18(1) and 36(1) of the Legal Metrology Act, 2009, which governs manufacturing, packaging, and pricing of pre-packaged commodities.
BrainBees opted for a compounding procedure under Section 48(3) of the Act and confirmed that the penalty would not materially impact its financials. Despite the fine, FirstCry's shares surged by 5.95% to INR 550 during intraday trading on November 18, hitting an earlier high of INR 582. The company’s market capitalisation stood at $3.37 Bn.
This marks the second legal challenge for the company this month. On November 11, it paid INR 1.74 Cr (including interest) for GST mismatches over four financial years. Following the disclosure, its shares dropped to an all-time low of INR 513.80 on November 13.
However, FirstCry has shown resilience with a 47.4% reduction in losses to INR 62.85 Cr in Q2 FY25 from INR 119.41 Cr a year ago. Revenue from operations rose to INR 1,935.85 Cr, driven by a 16% YoY growth in its Indian multichannel operations, registering 9.4 Mn annual unique transacting customers across its portfolio, including FirstCry and Baby Hug.
I am an entrepreneur, marketer, and mentor with a certification in entrepreneurship from IIT Delhi, one of the most prestigious institutions in India. I have a passion for connecting businesses with their ideal customers, solving real-world problems, and inspiring the next generation of founders.I founded and lead DevoByte, a digital marketing agency that provides a range of services, from SEO a
Your email address will not be published. Required fields are marked *
Add a newsletter to your widget area.
Top Stories
