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Razorpay’s FY23 Operating Revenue Crosses INR 2,000 Cr Mark

Bengaluru-based fintech unicorn Razorpay has reported a consolidated operating revenue of INR 2,279.3 Cr (approx. $306 million) in the financial year 2022-23, a 54% increase from the previous fiscal year. The startup, valued at over $7 billion, primarily earns revenue through payment commission fees and also offers software development and maintenance services. Despite a slight dip in net profit, Razorpay's total income for FY23 stood at INR 2,293.3 Cr. The company's expenditure increased by 55%, primarily driven by employee expenses and hosting charges. Razorpay is planning to relocate its base to India by the end of 2024 and is eyeing an IPO in the next two years.

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