BharatPe’s net loss widens to Rs 941 crore in FY23
BharatPe reported revenues from operations at Rs 1,029 crore for FY23, up 2 times from FY22. Its non-operating revenue, however, moderated 38 per cent year-on-year (YoY) to Rs 139 crore in FY23, as per the report.
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NEW DELHI: BharatPe’s net loss widened to Rs 941 crore during FY23, against Rs 834 crore in the previous fiscal.
“We excluded the loss worth 4,782 crore in FY22 which it incurred due to change in fair value of compulsory convertible preference shares,” as per a report, citing BharatPe’s annualised financial statement shared with shareholders.
BharatPe reported revenues from operations at Rs 1,029 crore for FY23, up 2 times from FY22. Its non-operating revenue, however, moderated 38 per cent year-on-year (YoY) to Rs 139 crore in FY23, as per the report.
BharatPe turned EBITDA - earnings before interest, tax, depreciation and amortisation - positive in October with an annualised revenue of Rs 1,500 crore on the back of higher growth in its lending and payments business, the company said last month.