Friday, 24 March, 2023

PhonePe loss 4x over earning in FY20

<p>PhonePe reported a 74% rise in yearly revenue to Rs 147.21 cr in the FY ended March 2020, from Rs 245.8 cr a year earlier. Its total loss narrowed 7% to Rs 1,772.93 cr, YoY. The business unit&rsquo;s total expenses were up 2% to Rs 2,202.91 cr. &nbsp;Advertising and promotional charges, its largest expenditure, dropped 22% to Rs 1,016,64 cr. Employee costs, another big cost centre, were cut 10% to Rs 478.92 cr.</p> <p>&nbsp;</p>