Gurugram-based home services platform recorded Rs 282-283 crore in so far for the April-June period this year with the quarter logging a before tax (PBT), cofounder and chief executive said Thursday. The net revenue is 38% higher on a year-on-year basis. Urban Company’s PBT margin is 4% for the period, Bhal told reporters Thursday at a press conference.
The company has not yet filed its financial statements for the fiscal year ended March 2024. In FY23, it had reported a 45% year-on-year jump in to Rs 637 crore. Its loss before taxes for the year narrowed to Rs 308 crore compared with Rs 514 crore in FY22.
Without disclosing the numbers, Bhal said the company’s loss had come down significantly in FY24 and that it is expected to become profitable for FY25. The Prosus Ventures and Accel-backed company is clocking 2.2 million average monthly orders with an average order value of Rs 1,290.
The company is on track for an initial public offering in 2025 and will soon announce a new independent director on its board, Bhal told reporters. The platform connects customers with gig workers for home services. It primarily functions within two categories – beauty and wellness that includes salon and spa services along with laser hair reduction; and home repairs and maintenance, comprising tasks like plumbing, electrical work, carpentry, cleaning, pest control, appliance repair and painting.
that Urban Company had logged its maiden profit before tax in the month of April. At the time.
