Mswipe growth remains sluggish in FY23; cuts losses by 45%
26 December 2023
Following a 40% wipeout in its revenue during the COVID-stricken year (FY21), Mswipe struggled to expand its scale. In a sign of recovery albeit slow, the fintech company posted nearly 14% growth in revenues at Rs 274 crore during the fiscal year ending March 2023. The firm also managed to curtail its losses significantly during the last fiscal year.
Mswipe’s revenue from operations increased 13.69% to Rs 274 crore in FY23 compared to Rs 241 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show.
Following a 40% wipeout in its revenue during the COVID-stricken year (FY21), Mswipe struggled to expand its scale. In a sign of recovery albeit slow, the fintech company posted nearly 14% growth in revenues at Rs 274 crore during the fiscal year ending March 2023. The firm also managed to curtail its losses significantly during the last fiscal year.
Mswipe’s revenue from operations increased 13.69% to Rs 274 crore in FY23 compared to Rs 241 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show.
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