Urban Company Reports Significant Growth and Reduced Losses in FY24

• Urban Company, a home service marketplace, has shown impressive growth since its inception, with operating revenue reaching Rs 827 crore in FY24, up from Rs 248 crore in FY21.
• The company reported a 30% year-on-year increase in revenue for FY24, while also achieving a 70% reduction in losses, which fell to Rs 93 crore from Rs 312 crore in FY23.
• Despite the positive financials, Urban Company noted that these figures are unaudited and may differ from the actual balance sheet to be released soon.
• In Q1 FY25, the company recorded Rs 281 crore in revenue, a 37.3% increase compared to Q1 FY24, with an operating EBITDA of Rs 7 crore.
• The firm also highlighted that female service partners earned 23% more per hour than their male counterparts in H2 CY23, and the company charged an average commission of 25% from service partners.

Source: Entrackr