Urban Company�s losses up 96% on back of acquiring, retaining talent, and other measures; revenue up
Ratan Tata-backed home services startup Urban Company?s losses for the financial year 2019-20 have jumped 96 per cent to Rs 137.8 crore from Rs 73.6 crore in FY19 amid a 92 per cent increase in expenses to Rs 394.2 crore from Rs 205.1 crore during the said period. The financial results, which are based on the IND-AS accounting norm, that Urban company moved to last financial year from I-GAAP, also reported an 82 per cent growth in its total revenue to Rs 256 crore in FY20 from Rs 131 crore in FY19. The operating revenue for the company had increased to Rs 212 crore from Rs 108 crore.
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