Urban Company revenue up 37.3% in Q1FY25, loss narrows to Rs 93 cr in FY24

Doorstep service provider Urban Company has reported narrowing of its consolidated loss to Rs 93 crore in the financial year 2023-24 and has posted first-ever operational profit in the June 2024 quarter.

Urban Company had posted an operational loss of Rs 312 crore in FY'23.

The company, meanwhile, posted first-ever operational profit in the June 2024 quarter, Urban Company said on Tuesday.

"We made a strong start to FY'25 with our consolidated net revenue growth for the first quarter of FY'25 at 37.3 per cent YoY (unaudited).

"We achieved PBT (profit before tax) profitability in the quarter with consolidated PBT margin as a percentage of net revenue at 4.3 per cent. The India business also achieved healthy PBT margins with PBT margin at 12 per cent," UC added.

The net revenue of the company increased by about 30 per cent to Rs 827 crore in FY'24, from Rs 637 crore it posted in FY'23.

"This growth was achieved on the back of investments in service quality, partner training and ...