Nevertheless, the corporate’s internet revenue for the yr dropped to Rs 141.9 crore, from Rs 149.6 crore a yr in the past. BillDesk’s financials had been first reported by Entrackr.
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One of the vital worthwhile cost firms within the nation, BillDesk has been seeing a stagnation in revenues and a pressure on its internet revenue during the last three years.
In FY21, BillDesk had reported Rs 245 crore in internet revenue, which fell sharply over the subsequent two years. Nevertheless, in comparison with different cost majors like Paytm, PhonePe or Razorpay, it nonetheless continues to be worthwhile.
One other competitor for BillDesk, Gandhinagar-based listed fintech firm CCAvenue reported a complete income of Rs 1,185 crore for the final monetary yr from its core funds enterprise, with a internet working revenue of Rs 136 crore.
In October 2022, Dutch funding agency Prosus had referred to as off its deliberate acquisition of the funds agency. Had the deal gone by way of on the deliberate valuation of $4.7 billion, it could have been the second largest buyout of an Indian startup, subsequent solely to Flipkart’s acquisition by Walmart a few years again.
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BillDesk is likely one of the largest invoice cost firms within the nation. As per knowledge from NPCI-owned NBBL (NPCI Bharat Billpay), it generated 31 crore payments on the biller aspect and 25 crore on the shopper aspect in February.
