The Naspers-owned classified major has posted a revenue of $60 million, which is about 123% increase from a year-ago period, in the fiscal year ended March 2019. According to RoC filings, the company witnessed about a 49% rise in profit to $3.4 million during the same period from $2.3 million crore in FY 2018.
Meanwhile, online classified marketplace expenses also climbed up to $55 million, which is about 135% rise from last year figure.
This year the company’s purchase of stock in trade saw huge inflow of capital, close to $27.6 from $495,000 last year.
OLX has been profitable for the last three fiscal years. Last time it posted loss was in March 2016, where the company had reported a loss of $316,000. In the next fiscal year, the Gurugram-based firm reported a profit of $1.2 million on revenue of $13.9 million.
OLX claims to have registered significant growth for the listings of Unboxed cars in metro cities. Two of the highest-selling categories on the platform are Auto and Smartphones.
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