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Jobs platform Apna's revenue nearly triples, expenses rise in FY23

Inshorts · 1y

Bengaluru-based job and professional networking platform Apna tripled its operating revenue in FY 2022-23, reaching Rs 180.3 crore. However, increased expenses resulted in higher losses compared to the previous fiscal year. The platform's total revenue, including interest income, reached Rs 188.1 crore. Expenses rose to Rs 308.4 crore, leading to losses of Rs 120.3 crore. Employee benefits accounted for the largest expense, amounting to Rs 203.8 crore. Apna reduced advertising and promotional expenses but still spent Rs 62.1 crore in this area. Apna became a unicorn in 2021 after raising $100 million in funding.