FirstCry, an Indian retailer of baby supplies, reported in its first earnings report after going public earlier this month that its quarterly loss had decreased from a year earlier due to robust demand.

In the quarter that ended on 30th June, the company’s consolidated net loss decreased from 90.13 crore to 56.71 crore.

The world’s most populous country’s childcare sector is expanding quickly, which is encouraging for FirstCry, according to analysts. Earlier this month, FirstCry’s first public offering (IPO) was oversubscribed twelve times, pitting it against Flipkart-owned Myntra, Shoppers Stop, and online kids’ retailer Hopscotch.

A crucial indicator of the monetary worth of orders received, FirstCry’s quarterly gross merchandise value increased 17 per cent year over year to 2,318 crore. Due in large part to the high demand for its products—which include infant nappies, toys, apparel, and footwear—its operating revenue increased by 17 per cent to 1652 crore. Due to an increase in raw material costs of 10.5 per cent, expenses increased by around 13 per cent to 1,603 crore.