ShareChat hopes to cut operating losses by a third in FY24

Mohalla Tech, which owns vernacular social media platforms ShareChat and Moj, expects to bring down its operating losses in FY24 to about a third of what it was in the preceding year, while driving its revenue up by 45-50% on year, according to its chief financial officer Manohar Singh Charan. In FY23, the company had posted losses of `4,064 crore on a topline of Rs 540 crore.

“From the time we had completed the acquisition of MX TakaTak, which was exactly two years ago, we’ve reduced our losses by over 90% and our revenue has almost doubled.