PhonePe revenue up 138% to Rs 1,646 cr; losses narrow to Rs 671 cr in FY22

Better revenue was primarily driven by robust growth across all businesses; contribution margin grew to 88% from 84% the previous year

Walmart-owned fintech firm PhonePe said it has seen its revenue grow 138 per cent to Rs 1,646 crore, while its losses (without ESOP costs) narrowed by 15 per cent year on year to Rs 671 crore in FY22. The increase in revenue was primarily driven by the robust growth PhonePe saw across all its lines of business. The company's contribution margin grew to 88 per cent from 84 per cent the previous year, on account of improved cost optimisation, process automation and a favourable product mix.

On the cost side, marketing investments grew to Rs 866 crore. The increase is largely