Consolidated Revenues from operations was Rs. 215.83 Cr. as compared to Rs. 286.99 Cr. in INR terms.
Operating Cash Flow of E-Commerce business for the quarter was $1.01 million as against a negative cash flow of $(2.42) million during the same quarter last year and cash flow of $0.37 million in the previous quarter.
Management Statement on E-Commerce Business
“We’re now half way through our focus of our energies on consolidation of our operations and improvement of our cash flows to ensure sustainability as we begin our next growth trajectory,” said Arvind Kajaria, Managing Director.
“We generated positive cash flows this quarter even at lower levels of revenues as compared to last year. The lower levels of revenues were an outcome of us reducing our purchases from many vendors and consequently realigning them with our strategy. As the vendor engagements progress, sales growth will become both robust and cash flow accretive.
Cash flow growth in the meantime continues its momentum, as can be seen from the first two quarters. Long—term debt fell by a further $0.9 million this quarter, in addition to the $0.8 million reduction in the previous quarter. As we achieve the preferred seller status with more and more vendors, along with cash flow generation, we’re setting the base for long—term sustainable growth.