India’s largest crypto-platform CoinSwitch saw its losses widen sharply in the fiscal year ending March 2025, despite a pronounced uptick in operating revenue.
According to filings by its Singapore-based parent entity, Chain Labs Pvt Ltd, the net loss for FY25 stood at approximately US $37.6 million (₹333.1 crore), representing a year-on-year increase of 108 % from the US $18.1 million (₹160.3 crore) loss in FY24.
At the same time, operating revenues jumped by 219 %: the company reported US $14.6 million (₹129.5 crore) from operations in FY25, up from US $4.6 million (₹40.8 crore) the prior year.
Despite that revenue growth, the total income — including other income sources — held largely
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