PhonePe reported a 74% rise in yearly revenue to Rs 147.21 cr in the FY ended March 2020, from Rs 245.8 cr a year earlier. Its total loss narrowed 7% to Rs 1,772.93 cr, YoY. The business unit’s total expenses were up 2% to Rs 2,202.91 cr.  Advertising and promotional charges, its largest expenditure, dropped 22% to Rs 1,016,64 cr. Employee costs, another big cost centre, were cut 10% to Rs 478.92 cr.

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