Company News
Urban Ladder’s FY19 net profit at Rs 49.40 croreedit
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.
Publication : Financial Express
Date : November 19, 2019
urban ladderUrban Ladder posts maiden profit in FY19, sales jumps nearly two-foldedit
In a major feat, online furniture retailer Urban Ladder has turned out profitable apart from posting healthy revenue growth. In the financial year ended March 31, 2019, eight-year old firm has posted Rs 49.4 crore in net profits, its first positive bottom-line since starting out. In FY18, the company had reported a loss of Rs 118.6 crore and a year before that Rs 458 crore. With this, Urban Ladder joins the league of select Indian startups such as Byju’s, PolicyBazaar, and OLX that are profitable on net basis. With investors now cautious of funding loss-making businesses, start-ups have also turned to focus on profitability and unit economics.
Publication : Business Standard
Date : November 19, 2019
urban ladderUrban Ladder swings to profit despite management churnedit
Urban Ladder Home Decor Solutions Pvt. Ltd, which owns online furniture retailer Urban Ladder, turned profitable in 2018-19 despite a slew of challenges, including top level exits and its inability to raise more funds. The Bengaluru-based firm reported net profit of ₹49 crore in 2018-19, on a standalone basis. For fiscal 2018, it suffered a loss of ₹118.66 crore. Its revenue rose 187% from ₹151 crore in FY18 to ₹434 crore this fiscal, showed documents filed with the Registrar of Companies, and accessed by business intelligence platform Tofler.
Publication : Mint
Date : November 18, 2019
ProfitabilityCompetition and Industry News
Brigade Group partners IKEA to offer personalise home furnishing productsedit
Brigade Group, Bengaluru-based real estate developer, has partnered with IKEA to offer home furnishing offerings. The company launched Brigade Plus Easy Home packages to its customers. As an initiative within Brigade Plus, customers now have the chance to personalise their homes using IKEA home furnishing products in their Brigade homes. IKEA started its retail operations in August last year and so far has introduced Indian consumers to more than 7500 products. Brigade has set up multiple model apartments showcasing IKEA furnishing options in the home-front including living/dining rooms, bedrooms including children’s rooms, kitchens, and bathrooms.
Publication : The Hindu Business Line
Date : November 19, 2019
IKEA