Urban Ladder FY17 revenue up 22%, losses down 33%

Online furniture store Urban Ladder concluded 2016-17 with increased revenues and trimmed losses.
 
The company's operating revenue stood at ₹42 crore for FY17, a 22% jump from the previous year, as per the company's regulatory filings with the ministry of corporate affairs (MCA), sourced through data-tracking platform Tofler.
 
The company at the same time shrunk its losses by a third from ₹237 crore in FY16 to ₹160 crore in FY17.
 
The drop in loss numbers reflects an improvement in the company's performance from the last fiscal, when its losses ballooned three-fold from FY15.
Overall expenses for FY17 dropped by a marginal 6% to ₹215 crore from ₹231 crore in FY16. About one-third of the expenses were categorised under employee benefit expenses, while a majority of the expenses fell under the tab of 'other expenses'.
 
Urban Ladder declined to comment on the queries sent by ET. The company, which started out as a marketplace in 2012, recently transitioned into a furniture brand by procuring a single-brand retail trade licence.
 
Chief executive Ashish Goel has often spoken about the company's strategy surrounding a strong push towards an offline expansion. With the Cabinet allowing 100% FDI in single-brand retail via the automatic route, Goel hopes to expand Urban Ladder into categories beyond just furniture.
 
Urban Ladder, which is one of the most well-funded online furniture companies, has raised funds from the likes of Sequoia Capital and Kalaari Capital. It competes with Goldman Sachs-backed Pepperfry and Bessemer Venture Partners-backed Livspace.
 
Pepperfry, which has heavily focused on offline expansion from 2016, clocked ₹127.5 crore in total revenues in FY17, 30% higher than the previous year and three times higher than Urban Ladder's revenues.
 
Pepperfry has 23 studios across 11 cities and is looking to open another 25 studios by the end of FY18, while Urban Ladder operates three offline centres. Livspace, saw losses soar nearly five times in FY17, even as revenues more than doubled. The company saw revenues rise to ₹22.4 crore from ₹9.1 crore in the previous year.
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