Home services firm Urban Company recorded a dip in its losses by 70 per cent in FY24 and posted its first-ever operational profit in Q1 FY25. The company reported a consolidated loss of Rs 93 crore in FY24, down from Rs 312 crore in FY23, while consolidated net revenues grew by 30 per cent to Rs 827 crore.
The growth was driven by investments in service quality, partner training and enablement, technology development, and the launch of Native RO water purifier devices. The firm achieved 37.3 per cent consolidated net revenue growth year-on-year in Q1 FY25 (unaudited).
“We also made meaningful progress towards improving profitability driven by operational leverage and driving efficiency across cost lines,” the company said.
Urban Company achieved profit before tax (PBT) profitability in Q1 FY25, with a consolidated PBT margin of 4.3 per cent of net revenue. The India business reported a healthy PBT margin of 12.0 per cent.
The company continues to invest in improving consumer experience, building new categories, and driving efficiencies across its Indian and international businesses.
“Our strong unit economics and cost excellence will help drive operating leverage as the business scales,” said the company.
