Urban Ladder’s FY19 net profit at Rs 49.40 crore

By: |
Published: November 19, 2019 5:32:50 AM

The company had posted losses of over Rs 100 crore in FY18. Revenue from operations jumped 209% to Rs 298.17 crore in FY19. Total expenses stood at Rs 382 crore during the period, the data showed.

Urban Ladder, Urban Ladder net profit, Urban Ladder revenue, Urban Ladder sofa, Urban Ladder bedThe firm, which had been banking on its offline expansion strategy to turn profitable, plans to get listed by 2021.

Bengaluru-based furniture and home decor retailer Urban Ladder reported net profits of Rs 49.40 crore in the year to March 2019, according to the company’s RoC filings sourced from business intelligence platform Tofler.

The company had posted losses of over Rs 100 crore in FY18. Revenue from operations jumped 209% to Rs 298.17 crore in FY19. Total expenses stood at Rs 382 crore during the period, the data showed.

Urban Ladder, which started as an online marketplace, forayed into the brick-and-mortar space and currently has offline stores in Delhi-NCR, Bangalore, Pune and Chennai. The firm, which had been banking on its offline expansion strategy to turn profitable, plans to get listed by 2021.

Earlier this month, the firm raised about Rs 15 crore from SAIF Partners, Sequoia Capital and Steadview Capital. In March 2018, Urban Ladder raised $12 million in fresh funding from Kalaari Capital and other existing investors. So far, the home decor firm has raised close to $115 million, according to data from Crunchbase.

Urban Ladder competes with Mumbai-based Pepperfry. Entry of Swedish brand IKEA has intensified the competition in the space. IKEA, which opened its first Indian outlet in Hyderabad, intends to invest Rs 1,000 crore in Bangalore where it is planning to launch a store in 2020. Earlier this year, the company let go of about 90 employees in a bid to curtail costs.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1MSME credit woes no more? Outstanding bank loans jump; small businesses borrowed this much last year
2Singapore should put in place billion dollar funding arrangement for Indian start-ups: Experts
3Amazon of government procurement is helping PSUs save this much on buying from MSME sellers