Home services marketplace Urban company’s revenue from operations increased 42.72% to Rs 424.84 crore in FY23 from Rs 297.66 crore in FY 22. The company’s net loss reduced 60% to Rs 161.36 crore in FY23 from Rs 404.37 crore when compared to the same period in the corresponding year. However, the net worth of the company declined 3.7% to Rs 1660.86 crore during the same fiscal year from Rs 1724.75 crore in FY22.
The EBITDA of the company reduced 65.56% to Rs 127.74 crore in FY23 from Rs 371.01 crore in FY22. The company’s total expenses for the fiscal stood at Rs 693 crore.
Interestingly, the Gurugram based firm reduced its marketing and advertising expenditure by 17.26% to Rs 4.36 crore in FY23 from Rs 5.27 crore when compared to the same period in the corresponding year.