Quikr posts first-ever profit in FY24 but left with only Rs 20 Cr in current assets

Quikr, an online classifieds platform, has reported its first annual profit, with a profit after tax (PAT) of ₹120 crore for the fiscal year 2024. This turnaround to profitability comes amid concerns regarding the company's liquidity, as its current assets stand at a relatively low ₹20 crore. The achievement of profitability is attributed to a significant business restructuring undertaken by Quikr and a strategic focus on high-margin business verticals. The company's ability to achieve profitability despite its working capital challenges will be closely watched by investors and industry analysts.