HomeStartupPhonePe post Rs2,795 Crore loss in FY23

PhonePe post Rs2,795 Crore loss in FY23

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PhonePe's FY23 revenue jumps 77% to Rs 2,914 crore; operating loss widens  to Rs 1,755 crore | Details | Companies News - News9live
  1. PhonePe’s consolidated net loss increased by 39% to INR 2,795.3 Cr in FY23 from INR 2,013.7 Cr in FY22.
  2. Operating revenue surged by 77% to INR 2,913.7 Cr in FY23 from INR 1,646.2 Cr in FY22.
  3. Total expenditure grew to INR 5,886.3 Cr in FY23, primarily due to a significant 73% rise in ESOP expenses, amounting to INR 2,057 Cr.
  4. Revenue from payments and allied services stood at INR 2,707.1 Cr in FY23, a substantial increase from INR 1,6301.4 Cr in the previous fiscal year.
  5. Founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, PhonePe offers diverse financial services, including digital payments, mutual funds, and insurance products, operating in the fintech sector.
SourceEntrackr

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