News > Before Ashneer Grover's exit, BharatPe lost Rs 5,610.7 cr in FY22

Before Ashneer Grover's exit, BharatPe lost Rs 5,610.7 cr in FY22

Fintech platform BharatPe suffered huge losses to the tune of Rs 5,610.7 crore in the FY 2021-22, due to a one-time non-cash expense related to a change in the fair value of Compulsory Convertible Preference Shares (CCPS). In FY21, the company posted a net loss of Rs 1,619.2 crore. Apart from the CCPS cost, the company’s adjusted loss grew 2.2 times to Rs 828.2 crore in FY22, from Rs 227.3 crore in the earlier fiscal year, according to its financial statement with the RoC.