Urban Company goes Profitable by dipping its losses by 40.1%

By Team Startupcity  |  Friday, 10 May 2024, 18:20 IST

Urban Company goes Profitable by dipping its losses by 40.1%
Technology-driven company that provides home services, Urban Company has posted that their profitable rate at PBT – Profit before tax on a collective basis in the previous month. This improvement in the company’s profit will significantly spur its public listing plan which probably to occur at the end of the year 2025.
On the behalf of the company’s India facility that holds more than 90 percent of its business operations posted more than 11 crore Profit before tax in April. An official subjected this matter states, “Urban Company has also achieved breakeven in the UAE but it is incurring losses in Singapore and Saudi region as these two markets are new”.
Further he added, “The Company’s losses for the last fiscal stood under 100 crore”.
Thus the profitability rate in the month of April signifies that Urban Company has capability to eliminate the losses by more than two-third in the current financial year. 
Established in 2014, Urban Company is digital marketplace for home services & beauty salon that holds its presence across the country with more than 30 cities. Along with India, Urban Company undertakes operations from few international markets. Based in Gurugram, the company attained a Unicorn status in the month of June 2021 with overall valuation of more than $2 billion. 
As per the startup intelligence platform TheKredible, Urban Company decreased its overall losses by 40. 1 percent in FY23 against the losses in FY22. 
 

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