HomeStartupKhataBook revenue jumps 14% to Rs 81 crore, post Rs 125 cr...

KhataBook revenue jumps 14% to Rs 81 crore, post Rs 125 cr loss in FY23

Published on

spot_img
File:Khatabook-White-BG-Red-Logo-Horizontal.png - Wikipedia
  1. KhataBook, a fintech app serving small businesses with digital loans and bookkeeping software, achieved a 14% increase in operating revenue, reaching Rs 81 crore in FY23.
  2. This revenue growth represents a slowdown compared to the previous year when KhataBook’s revenue soared by over 300%, hitting Rs 71 crore.
  3. While the company saw a slight 4% increase in losses, amounting to Rs 125 crore in FY23, this is still lower than the losses of Rs 120 crore in FY22, which had been significantly higher compared to Rs 32 crore in FY21.
  4. KhataBook adopted cost-cutting measures in FY23, maintaining total expenses at Rs 223 crore, with a significant portion attributed to employee benefit expenses, reaching nearly Rs 142 crore.
  5. KhataBook recently streamlined operations by laying off over 40 employees and has received significant funding from investors, with a valuation of $600 million in August 2021 during its Series C round.
SourceYourStory

Latest articles

Adani Group plans $84 billion in the next 10 years : CFO

Adani Group plans to invest Rs 7 trillion ($84 billion) in infrastructure over the...

Indian banks set 10-year record with 123,000 hirings in FY23

Indian banks experienced a notable surge in hiring during FY23, reaching a decade-high in...

Ahead of IPO, Mamaearth sold excess stock of its products to distributors

Honasa Consumer, the parent company of Mamaearth, distributed excess stock through its offline supply...

CarDekho acquires Revv to enter car rental space

CarDekho, an autotech unicorn, acquired Revv, a self-drive car rental service. Revv's services will be...

More like this

Adani Group plans $84 billion in the next 10 years : CFO

Adani Group plans to invest Rs 7 trillion ($84 billion) in infrastructure over the...

Indian banks set 10-year record with 123,000 hirings in FY23

Indian banks experienced a notable surge in hiring during FY23, reaching a decade-high in...

Ahead of IPO, Mamaearth sold excess stock of its products to distributors

Honasa Consumer, the parent company of Mamaearth, distributed excess stock through its offline supply...