PhonePe revenue up 85%, losses down 44% in FY21

PhonePe, a digital payments platform backed by US-based retailer Walmart Inc and homegrown ecommerce entity Flipkart, has reported revenue from operations of Rs 690 crore in the previous financial year, a jump of 85%, according to its latest regulatory documents sourced by ET.

PhonePe, which competes with Paytm, Google Pay and Amazon Pay, has reported marginally lower net loss of Rs 1,727 crore for the period.

Excluding a one-time allocation for employee stock options, the loss is around Rs 884 crore, down around 44%.