Khatabook Spent INR 108 Cr To Earn INR 19.1 Cr In FY21

• BySaksham Daga     |    January 10, 2022

Bengalurubased fintech startup Khatabook has clocked a total revenue of INR 19.1 Cr in the financial year ending on March 31, 2021. This is a 25.3�ll from INR 25.6 Cr, the startup earned in FY20. 

 Its revenue from operations fell by 30.7% from INR 24.4 Cr it posted in FY20 to INR 16.9 Cr in the last financial year i.e.FY21. However, the startup`s other income rose to INR 21 Cr in FY21 from INR 12.7 Cr in FY20. 

 The MS Dhonibacked startup managed to slightly drop its total expenses to INR 108.6 Cr in FY21, from INR 127.2 Cr in FY20. Labor costs for startups rose from 105 rupees in 2008 to 370 rupees last year. The 252% increase is due to higher employment and higher salaries.

Khatabook  also announced a $ 10 million ESOP repurchase last August. The startup reduced its loss in 2009 from 89.5 rupees (2009) by 63%  to  32.5 rupees. Thanks to his intellectual property, it was partially sold to his holding company (Kyte Technologies Inc) for Rs 57. Compared to the previous year, Khatabook was able to reduce after-tax losses by 68% compared to the previous year’s value of 101.5 Cr. The Khatabook was originally created by Vaibhav Kalpe and later acquired by Kyte Technologies in 2018. 

 Kalpe  later joined the Kyte team, including founding members Ravish Naresh, Jaideep Poonia, Dhanesh Kumar, and Ashish Sonone.  Naresh is currently leading the startup as CEO and co-founder of Khatabook.

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