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DigiSpice’s Spice Money logs 80% yoy jump in revenue at Rs341 crore for FY22; stock gains ~1%

Spice Money’s well-thought strategy to provide a one-of-its-kind zero investment model continues to deliver robust results and growth for Adhikaris.

May 27, 2022 3:05 IST | India Infoline News Service
DiGiSPICE Technologies Limited announced its results for the quarter and financial year ended March 31, 2022. The company operates in rural fintech through its subsidiary, Spice Money.

Spice money logged a growth of 80% in its service fee revenue to Rs341 crore in FY22 as against Rs190 crore during the previous financial year.

Spice Money has achieved a significant milestone of 1 million Adhikaris (nanopreneurs) during the current financial year, nearly double over the last year.

Spice Money’s strategy to provide a one-of-its-kind zero investment model continues to deliver robust results and growth for Adhikaris.

The company’s network marks its presence across rural India covering over 95% of rural pin codes, and 700+ districts, which altogether serves a base of over 100 million customers, through the Spice Money App and Web portal.

With a positive unit economics business model, Spice Money continues to be a profitable fintech with an EBITDA of Rs22 crore in FY22.

Spice Money strives to build India’s largest Adhikari network with the best last-mile connectivity, revolutionising the way Bharat banks through an Open Network Assisted Digital Distribution (ONADD) model.

Digispice was trading at Rs29.75, up by 30 paise or 1.02% against its previous close of Rs29.45 on NSE.

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