Urban Company’s FY20 loss widens to Rs 155 crore, revenue doubles to Rs 263 crore – Business News , Firstpost

Home services marketplace, Urban Company, saw its consolidated losses widen to Rs 155.17 crore in the financial year 2020 on account of higher expenditure, even as its total income almost doubled, as per regulatory documents reported by market intelligence firm Tofler. The company saw its total income almost doubling to Rs 263.07 crore in the financial year 2020 from Rs 132.04 crore in the financial year 2019, while its loss was at Rs 155.17 crore in the financial year 2020 as against a loss of Rs 78.48 crore in the previous fiscal, according to Registrar of Companies filing shared Tofler.

Total expenditure on a consolidated basis grew 98.6 percent to Rs 418.25 crore in fiscal ended March 2020 as compared to Rs 210.52 crore in the preceding fiscal.

On a standalone basis, Urban Company saw its total income almost doubling to Rs 256.42 crore in the financial year 2020 from Rs 131.59 crore in the financial year 2019, while its loss was at Rs 137.86 crore in the financial year 2020 as against a loss of Rs 73.6 crore in the previous fiscal.

Expenditure on a standalone basis rose 92 per cent to Rs 394.29 crore in the fiscal ended March 2020 as compared to Rs 205.19 crore in the preceding fiscal.

In the filing, Urban Company said it clocked a significant year-on-year growth in operating revenue to Rs 212 crore in the financial year 2019-20, compared with Rs 108 crore in the financial year 2018-19.