Urban Company’s FY20 loss widens to Rs 155 crore, income doubles to Rs 263 crore

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Urban Company’s complete expenditure on a consolidated foundation grew 98.6 % to Rs 418.25 crore in fiscal ended March 2020.

Home companies market, Urban Company, noticed its consolidated losses widen to Rs 155.17 crore within the monetary yr 2020 on account of upper expenditure, whilst its complete earnings virtually doubled, as per regulatory paperwork reported by market intelligence agency Tofler. The firm noticed its complete earnings virtually doubling to Rs 263.07 crore within the monetary yr 2020 from Rs 132.04 crore within the monetary yr 2019, whereas its loss was at Rs 155.17 crore within the monetary yr 2020 as in opposition to a lack of Rs 78.48 crore within the earlier fiscal, in accordance with Registrar of Companies submitting shared Tofler.

Total expenditure on a consolidated foundation grew 98.6 % to Rs 418.25 crore in fiscal ended March 2020 as in comparison with Rs 210.52 crore within the previous fiscal.

On a standalone foundation, Urban Company noticed its complete earnings virtually doubling to Rs 256.42 crore within the monetary yr 2020 from Rs 131.59 crore within the monetary yr 2019, whereas its loss was at Rs 137.86 crore within the monetary yr 2020 as in opposition to a lack of Rs 73.6 crore within the earlier fiscal.

Expenditure on a standalone foundation rose 92 per cent to Rs 394.29 crore within the fiscal ended March 2020 as in comparison with Rs 205.19 crore within the previous fiscal.

In the submitting, Urban Company mentioned it clocked a big year-on-year progress in working income to Rs 212 crore within the monetary yr 2019-20, in contrast with Rs 108 crore within the monetary yr 2018-19.

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