Gurugram-based Urban Company slips to ₹92-crore Q1 loss despite 44% revenue growth

The mobile app-based beauty and home services platform Urban Company Ltdon Friday (July 31) reported a consolidated net loss of ₹92.12 crore for the first quarter, compared with a net profit of ₹6.94 crore in the corresponding quarter last year.

The Gurugram-based company's revenue from operations increased 43.9% year-on-year to ₹528.3 crore, up from ₹367.3 crore in the same period last year.

At the operating level, earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at a loss of ₹92.6 crore, compared with an EBITDA loss of ₹4.8 crore a year earlier.

Urban Company operates a technology-driven, full-stack online marketplace for quality-driven services and solutions across various home and beauty categories. Apart from India, it has a presence in the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia.

Its platform enables consumers to easily order services, including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, painting, skincare, hair grooming and massage therapy. These services are delivered by trained and independent service professionals at the consumers' convenience.

Shares of Urban Company Ltd ended at ₹128.50, down by ₹1.80, or 1.38%, on the BSE.