In FY21, the company posted a net loss of ₹1,619.2 crore.
Excluding CCPS charges, the company’s adjusted loss grew 2.2 times to ₹828.2 crore in FY22 from ₹227.3 crore in the earlier fiscal year, according to the annual accounts filed with the Registrar of Company (RoC) .
Earlier this month, the company had clarified that the CCPS-related item is a “one-time item and won’t be there as of next year as we have now reclassified the mandatory convertible preferred stock from debt to equity”.
Meanwhile, revenue from operations rose 3.8 times to ₹456.8 crore from ₹119 crore in FY21, owing to a sharp increase in payment volume in loan disbursements.
Earlier this week, the IPO-bound fintech platform announced three major appointments along with the hiring of Ambuj Bhalla as Chief Information Security Officer (CISO) as it pursues a legal battle with former co-founder Ashneer Grover in the Delhi High Court .
Founded in 2018,
The company is a leader in offline UPI transactions, processing more than 18 crore UPI transactions per month (with an annual processed transaction value of more than $24 billion in payments).
The company has facilitated loan disbursement of nearly ₹8,500 crore to over 450,000 traders.
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