Despite a 75.4% YoY rise in operating revenue to INR 613.8 Cr in FY23, Cashfree Payments’ net loss surged due to a sharp jump in employee costs
Total expenses more than doubled to INR 750 Cr in FY23 from INR 354.2 Cr in the previous year
Cashfree spent INR 445.5 Cr as payment gateway processing charges in FY23, a jump of 114.4% from INR 207.8 Cr in the previous year
Fintech platform Cashfree Payments saw its net loss widen a whopping 46X to INR 133.1 Cr in the financial year 2022-23 (FY23) from INR 2.9 Cr in the previous year, hurt by a sharp jump in its employee costs.
Cashfree’s operating revenue increased 75.4%, or 1.7X, to INR 613.8 Cr in the reported fiscal year from INR 349.9 Cr in FY22.