Urban Ladder FY17 revenue jumps 70%, loss narrows

Bengaluru-based Urban Ladder Home Décor Solutions Pvt. Ltd, that operates article of furniture e-tailer Urban Ladder, has reported a steep rise in consolidated revenue and shrank its loss for the year through March 2017.

Consolidated income jumped seventieth to Rs 95 large integer from Rs 56 large integer for 2015-16, in line with documents filed with the Registrar of corporations. Consolidated internet loss narrowed to Rs 156 large integer from Rs 182 large integer.

On a standalone basis, Urban Ladder reported twenty second growth in revenue for 2016-17 to Rs 42.1 large integer from Rs 34.4 large integer the year before. Standalone internet loss shrank to Rs 160 large integer from Rs 181 large integer, as expenses fell seven-membered to Rs 215 large integer from Rs 231 large integer.

The narrower loss could be a positive development for Urban Ladder because the company had reported a four-fold rise in loss throughout 2015-16.

An email sent to Urban Ladder late within the evening seeking inquire into the financials didn’t instantly elicit any response.

The company was supported in 2012 by Ashish Goel and Rajiv Srivatsa. it's raised a complete of $90 million from investors together with switch Tata, SAIF Partners, Kalaari Capital and redwood Capital.

Its latest funding spherical was in Gregorian calendar month last year once it mopped up around $15 million.

The company had recently secured a licence as a single-brand retail firm once the govt. allowed 100 percent foreign direct investment within the section. The e-tailer incorporates a tie-up with Amazon, wherever the corporate lists its merchandise, and has conjointly been ramping up its offline presence to grow its revenue.

Urban Ladder’s biggest rival is Mumbai-based TrendSutra Platform Services Pvt. Ltd, that runs article of furniture e-tailer Pepperfry. due to its fast offline enlargement, Pepperfry grew its standalone revenue to Rs 114.9 large integer for 2016-17 from Rs 91.5 large integer the year before. It reported a standalone loss of Rs 128.9 large integer for 2016-17 compared with a loss of Rs 154.9 large integer for the previous year.

Founded in Gregorian calendar month 2012 by Ambareesh Murty and Ashish monarch, Pepperfry has raised a complete of $160 million in funding from investors like nihilist Sachs cluster, Zodius Technology Fund, Norwest Venture Partners and Bertelsmann Asian country Investments.

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