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ShareChat News: Mohalla Tech, the parent company of social media platform ShareChat, has widened its losses. During the financial year 2023, the loss of this company increased by more than 38 percent to Rs. 4,064 crores. While in FY 2022 it was Rs 2,941 crore. However, Mohalla Tech reported a 62 percent growth in its revenue from operations for FY22. This income is Rs. 332.69 crores to Rs. 540.21 crores. Total revenue increased by 54.9 percent to Rs. 628.85 crores. Let us tell you that ShareChat’s parent unit and short video entertainment app Moj raised $255 million from Google and Temasek during fiscal year 2023.
Salaries of top management officers have increased
Despite ShareChat going through a period of turmoil, there was no compromise in the pay packages of the company’s top executives. According to the Moneycontrol report, the CEO of the company Manohar Charan in FY2023 received a total of Rs. 3.11 crore package was received, which in FY2022 was Rs. 2.75 crore is 13 percent more. At the same time, CEO and co-founder Ankush Sachdeva took a salary of Rs 80 lakh in FY 2023. However, Sachdeva was the only key management executive whose remuneration remained unchanged from the last financial year.
Meanwhile, ShareChat co-founder Bhanu Pratap Singh’s remuneration in FY 2012 was Rs. 80 lakhs increased by 25 percent in FY 2013 to Rs. 1 crore was done. Another co-founder, Fareed Ahsan’s package rose 14 percent to Rs 82 lakh in FY20 from Rs 72 lakh in FY2022. However, according to a company source, the salary of the three co-founders in both FY22 and FY23 was Rs. 80 lakhs.