Razorpay's FY22 Profit Rises 20% to INR 7.3 Cr, Operating Revenue Nears INR 1,500 Cr Mark
Razorpay, a
fintech unicorn based in Bengaluru, reported a 20% increase in standalone net
profit, reaching INR 7.3 Cr from INR 6.1 Cr in FY21. The company's revenue from
operations also surged by 76%, amounting to INR 1,481 Cr, majorly due to
pay commission fees earned by providing online payment services to
merchants.
However, the
company's total expenses also rose by 76% to INR 1,476.5 Cr in FY22 from INR
838.9 Cr in FY21, with a significant amount of undisclosed miscellaneous
expenses. Employee benefit expenses also increased by 75%, reaching INR 372.5
Cr from INR 212.9 Cr in FY21.
Furthermore,
Razorpay spent INR 86 Cr on advertising and marketing, recording a 218.5%
increase from INR 27 Cr in FY21. The company earned INR 17.3 in operating
revenue for every INR 1 spent on advertising and marketing, reflecting the
effectiveness of its marketing efforts.
Overall,
Razorpay's financial performance indicates a strong growth trajectory, as its
revenue from operations nears the INR 1,500 Cr mark. The company's focus on
providing online payment services to merchants has proved successful, and its
investment in advertising and marketing has paid off with significant returns.