PhonePe FY19 losses surge to Rs 1,904.7 cr

New Delhi, Oct 30 () Flipkart-owned PhonePe has seen its losses mount to Rs 1,904.72 crore in 2018-19 from the previous fiscal, as it continues to battle against rivals like Paytm, Google Pay and Amazon Pay.
The company’s losses stood at Rs 791.03 crore for the year ended March 2018, as per regulatory documents.

However, PhonePe also saw its revenue from operations rise manifold to Rs 184.22 crore in FY19 as against Rs 42.79 crore earlier, documents sourced by business intelligence platform Tofler showed.

E-mails sent to PhonePe did not elicit a response.