HomeStartupInstamojo post Rs 46 Cr revenue & Rs 8 cr profit in...

Instamojo post Rs 46 Cr revenue & Rs 8 cr profit in FY23

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Announcement: Instamojo is now a profitable D2C Tech company
  1. Instamojo, previously a fintech startup offering payment solutions, recorded flat operational revenue of Rs 46 crore in FY23.
  2. The company transitioned from its core payment business to offering digital tools for SMBs. While the pivot led to month-on-month profitability, it didn’t add additional revenue or income in the last 12 months. However, it achieved profitability, turning a profit of Rs 8.26 crore in FY23 from a previous loss of Rs 1.1 crore.
  3. Total expenses decreased from Rs 48 crore to Rs 38.12 crore. This reduction stemmed from decreased employee benefit expenses, marketing costs, managerial remuneration, and other overhead expenses.
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