Urban Ladder has posted a net profit of Rs 49.40 crore in the year to March 2019. The furniture and home decor retailer had reported losses of more than Rs 100 crore in FY18.
The Bengaluru-based company’s revenue from operations jumped 209% to Rs 298.17 crore in FY19, while its total expenses stood at Rs 382 crore during the period.
Started as an online marketplace, Urban Ladder also ventured into the brick-and-mortar space. Presently, the company has offline stores in Delhi-NCR, Bangalore, Pune and Chennai.
Urban Ladder had been banking on its offline expansion strategy to turn profitable. It plans to get listed by 2021.
The home decor firm secured about Rs 15 crore from SAIF Partners, Sequoia Capital and Steadview Capital earlier this month. It has raised close to $115 million so far.
The company competes with Mumbai-based Pepperfry. Its competition has been intensified with the entry of Swedish brand IKEA.