Urban Company (URBANCO) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated net revenue rose 29.7% YoY to INR 82,697 lakh; consolidated loss before tax narrowed to INR 9,273 lakh from INR 31,244 lakh.

• Q1 FY25 unaudited revenue grew 37.3% YoY to INR 281 Cr, with INR 12 Cr consolidated PBT and 4.3% PBT margin.

Financial highlights

• FY24 consolidated operating EBITDA loss narrowed to INR 116 Cr from INR 297 Cr in FY23; PBT loss narrowed to INR 93 Cr from INR 312 Cr.

• Consolidated FY24 loss for the year was INR 9,277 lakh versus INR 31,248 lakh in FY23; basic/diluted EPS was INR (0.02) versus INR (0.06).

• Standalone operating revenue rose 34.3% to INR 57,176 lakh from INR 42,484 lakh; standalone PBT loss narrowed to INR 1,119 lakh from INR 16,136 lakh.

• Consolidated other income increased to INR 10,107 lakh from INR 8,986 lakh, including interest income from financial assets, bank deposits and corporate deposits.

Outlook and guidance

• Q1 FY25 India business recorded INR 30 Cr PBT and 12.0% PBT margin; consolidated PBT margin was 4.3%.

• Continued investment in consumer experience, new categories and efficiency; management cited unit economics and cost discipline as drivers of operating leverage at scale.

• The Saudi joint venture with SMASCO is expected to commence operations in FY25.