In FY24, Urban Company Claims Revenue Of Rs 827 Cr; 70% Cut in Losses

Urban Company, the leading marketplace for home services, has seen a remarkable recovery in FY24 at the financial level.

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Maybe the most impressive thing about the financial performance of the Urban Company was the massive reduction in its losses.

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It reduced losses by 70 percent to Rs 93 crore in FY24 from Rs 312 crore in FY23, aided by a mix of better capital efficiency, improved margins, and a reduction in fixed costs.

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The company clocked Rs 281 crore in revenues during the quarter under review, a growth of 37.3 percent over Q1 FY24.

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It also closed a $63 million secondary sale where some of its backers, founders, and staff diluted their holdings.

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