BharatPe spent ₹1,483 Cr to earn ₹457 Cr in FY22

BharatPe is a Indian fintech company that provides a payment platform for merchants. It enables merchants to accept UPI payments, QR code-based payments and also offers a lending platform. The company was founded in 2018 and is headquartered in New Delhi, India.

Its co-founder Shark Ashneer Grover and his wife Madhuri Jain had to resign from the company because of their involvement in financial irregularities and alleged fraud.

And most recently, their chief executive Suhail Sameer had also resigned from the company.

BharatPe’s revenue from operations grew 3.8X to Rs 456.8 crore during the last fiscal year (FY22) in comparison to Rs 119 crore in FY21, according to its consolidated annual financial statement with the Registrar of Companies (RoC).

Its collections from the same jumped 2.1X to Rs 151.85 crore in FY22 from Rs 72.07 crore in FY21.

Transaction fees (including settlement charges), fixed rental charges for the use of point-of-sale (PoS), and speakers were the next major revenue source. Income from PoS machines ballooned 2.9X to Rs 126.82 crore in FY22 from Rs 44.11 crore in FY21.

BharatPe spent Rs 184.8 crore on employee benefits which grew 2.5X during FY22. Significantly, this cost includes Rs 69.8 crore of ESOP expenses. ....

With the increasing scale, the company outsourced resources and these expenses ballooned over 2X to Rs 168 crore during the year which catalyzed BharatPe’s total annual expenditure by 3.2X to Rs 1,483 crore in FY22 from Rs 462 crore in FY21.

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