Live
- Nagarkurnool: Burglary in a locked house
- Nadda asks voters to unseat BJD govt
- KCR Rally at Hanumakonda Chowrastha Road Show for Warangal Parliamentary Elections
- Yastika, Renuka Thakur star in India’s 44-run win over Bangladesh in T20I series opener
- Sai Sangeeta won gold medal for India in Dubai Asian Championship
- BSP's Akash Anand booked for hate speech against BJP
- Two die of sunstroke in Kerala, heat alert sounded in parts of state
- IPL 2024: Will Jacks, Kohli shock Gujarat, keep RCB's playoff hopes alive
- IPL 2024: 'Can't sit and speak from a box', Virat Kohli slams strike-rate critics
- ISL 2023-24: We have to give our everything, says FC Goa's Fernandes ahead of semis clash with Mumbai City
Fintech unicorn Slice's losses mount to Rs 405 cr in FY23, revenue up 4X
Fintech unicorn Slice saw its losses surge 59.8 per cent to Rs 405 crore in FY23, compared to Rs 254 crore in FY22, owing to 3 times spike in employee benefits and non-performing assets (NPAs).
New Delhi : Fintech unicorn Slice saw its losses surge 59.8 per cent to Rs 405 crore in FY23, compared to Rs 254 crore in FY22, owing to 3 times spike in employee benefits and non-performing assets (NPAs).
Slice’s revenue from operations grew over 4 times to Rs 847 crore in FY23 from FY22, according to its financial statements from the Registrar of Companies (RoC). Interest income on the portfolio loans was Rs 472 crore which accounted for 56 per cent of total operating revenue, reports Entrackr.
Slice had a 2.9 times increase in its employee benefits to Rs 287 crore in FY23 from Rs 99 crore in FY22 (including Rs 40 crore as ESOP cost). It also had a non-performing asset (NPA) of Rs 256 crore under the loss on financial assets, loans and advances in FY23.
The company has raised over $340 million to date including a $220 million Series B round led by Tiger Global and Insight partners. Slice had announced to merge with North East Finance Bank in October last year, which saw the fintech firm becoming a Small Finance Bank (SFB). The bank recently appointed Satish Kumar Kalra, former head of Andhra Bank, as its interim MD and CEO.
