Paper Boat’s FY23 Loss Rises 71% To INR 90.6 Cr

The startup’s bottom line took a hit despite its revenue from operations rising 56% to INR 504 Cr during the year under review from INR 324 Cr in FY22. The GIC-backed startup’s total expenses rose to INR 599.1 Cr in FY23 from INR 378.1 Cr in the previous fiscal year. The startup’s expenses rose to INR 599.1 Cr in FY23.

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