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.For more updates, be socially connected with us on
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