After Ashneer Grover’s ‘Ab Nani Yaad Aayegi’ remark, BharatPe says it registered 4X sales growth

BharatPe said that it actually registered the strongest quarter (Q1 2022) ever in its history. 

New Delhi: As Ashneer Grover took a dig at the board members of BharatPe over its first quarter of alleged `degrowth` and `maximum cash burn`, the fintech platform said on Thursday that it actually registered the strongest quarter (Q1 2022) ever in its history. The company said it registered four times growth in its overall revenue in the said quarter over the same period last year. "On a sequential-quarter basis, the growth has been 30 per cent, despite the third wave of Covid-19," a BharatPe spokesperson told IANS.

"Comparing month-on-month, all our metrics have grown at the fastest pace -- merchant total payments value (TPV) (17 per cent), consumer TPV (39 per cent), loans facilitated (31 per cent), and revenue (21 per cent) in March over February," the spokesperson informed.

BharatPe revealed the first quarter numbers after Ashneer, former Co-founder and Managing Director, hit out at the board members of the fintech company, saying "snatching the keys and running a corner shop are two different skill-sets".

"So I just heard @bharatpeindia closed its first quarter of `degrowth` and `maximum cash burn` under able (sic) leadership of Rajnish Kumar (Chairman) and Suhail Sameer (CEO). `Chaabi chheenna and hatti chalana do alag alag skills hai!` Ab Nani yaad aayegi - markets are the ultimate test & truth," he posted.

Last month, Ashneer was stripped of all company titles over alleged "extensive misappropriation of company funds" and using "company expense accounts" to "enrich themselves and fund their lavish lifestyles".