Urban Company, which provides home services and ventured into home appliances with water purifiers, said Wednesday it has turned profitable for the financial year through March 2025 after staying in losses since its inception in 2014.
The company, which filed draft documents in April to launch an initial public offering, swung to a consolidated net profit of Rs 239.77 crore for FY25 from a loss of Rs 92.77 crore the year before, according to its annual report.
Consolidated revenue from operations climbed 38% to Rs 1,144.5 crore for FY25 from Rs 828 crore the year before.
Cash generated from operating activities stood at Rs 54.6 crore in FY25, co-founder and chief executive officer Abhiraj Singh Bhal said in a post on social media.
Bahl also said that Urban Company closed FY25 with 6.8 million annual transacting users on its platform, which supported nearly 48,000 monthly active service partners during the year. He noted that repeat users accounted for 82% of its business. On the supply side, the company reported that average monthly earnings for its service partners grew 16% year-on-year to Rs 26,400 per month.
Urban Company, previously known as UrbanClap, was founded in 2014 by Bhal, Varun Khaitan, and Raghav Chandra. The Gurugram-based startup provides on-demand services including beauty, cleaning, repairs and other home services.
The company filed for an IPO in April. The IPO proposal includes a fresh issue of shares and an offer for sale by some of its venture capital backers including Accel, Elevation Capital, Tiger Global, Bessemer Venture Partners and Vy Capital.
