CleverTap total revenue up by 46% in FY23
The profitability of the company after tax for the year was Rs 30 crore as compared to Rs 52 crore in the previous year which is almost 42% lower in comparison
Engagement platform CleverTap posted total revenue of Rs 405.14 crore for the year ended March 31, 2023, as compared to Rs 276.93 crore in the previous fiscal.
According to the FY23 report sourced by Tofler, the company said in the statement that during the year under review, the company managed to generate higher revenue from its operations as compared to the previous year, signifying 46.30% growth.
However, the profitability of the company after tax for the year is Rs 30.45 crore as compared to Rs 52.22 crore in the previous year which is almost 41.69% lower in comparison.
“The main reason for lower profit during the year is an increase in employee expenses and other operating expenses. The management is constantly striving the company to make more profitable organization,” read the statement. Meanwhile, the company's salaries and wages expenses grew 54.65% to Rs 134.19 crore as compared to Rs 86.77 crore in FY22.
The total revenue of the company stood at Rs 408.49 crore in FY23 as compared to Rs 279 crore in FY22. The advertising promotional expenses grew to Rs 19.63 crore for the year ended March 31, 2023, as compared to Rs 9.77 for the year ended March 31, 2022.
