Fintech major BharatPe reported revenues from operations at Rs 1,029 crore for the previous financial year, up 2X from FY22, startup news website Entrackr reported, citing BharatPe’s annualised financial statement shared with shareholders.
The company’s non-operating revenue, however, moderated 38% year-on-year (YoY) to Rs 139 crore in FY23, the report said. Employee benefits cost for the firm went up 65% YoY to Rs 304 crore, whereas finance cost for the year stood at Rs 12 crore.
The net loss widended to Rs 941 crore during FY23, compared with 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,” the Entrackr report said.
On November 28, BharatPe said it has turned EBITDA-positive in October 2023. The company also said its annualised revenue has surged past Rs 1,500 crore, a growth of 31% over FY23.