PhonePe posts 5-fold growth in income, total revenue stands at Rs 245.80 crore
PhonePe spent Rs 1,296 crore on advertising and promotion, accounting for over 60% of total expenditure in FY19
PhonePe has posted a 2.4 times jump in losses to Rs 1,907 crore in FY19, as per media reports.
In the last financial year, the company’s loss stood at Rs 791 crore.
The Flipkart-owned payments firm spent Rs 1,296 crore on advertising and promotion and this accounts for over 60 per cent of the company’s total expenditure in FY19.
PhonePe has also posted a total revenue of Rs 245.80 crore, a five-fold growth in its income.
With 5X growth in its income, PhonePe has posted total revenue of Rs 245.8 crore in FY19. Its operational revenues has jumped over 4 times to Rs 184.22 crore in FY19.
The company has said that it expenses were met from the proceeds of Rs 2,762.46 crore that came from its Singapore-based holding company during FY19 and Rs 32 crore it got via providing digital payment services to Flipkart Internet.
PhonePe’s total assets have grown four times to Rs 1,892.45 crore.
