Ashneer Grover, wife Madhuri Jain took THIS only as salary from BharatPe in FY22
1 min read . Updated: 28 Jan 2023, 05:38 PM IST
PremiumBharatPe did not disclose how much did they receive as share-based payment It spent ₹70 crore in share-based payments, a 218% jump from the year before
Ashneer Grover, BharatPe boss and ex-Shark Tank India judge, earned a salary of ₹ 1.69 crore last year, while his wife and BharatPe's head of controls Madhuri Jain Grover took home a total of ₹63 lakh in FY22, the company said in its regulatory filing, as reported by Moneycontrol.
Apart from the Grovers, former CEO Suhail Sameer earned a salary of ₹ 2.1 crore and co-founder Shashvat Nakrani earned ₹ 29.8 lakh. Also, Board member Kewal Handa received a total of ₹ 36 lakh and chairman Rajnish Kumar got ₹ 21.4 lakh.
The fintech startup in its regulatory filing did not disclose how much did they receive as share-based payment. However, the company cited that it spent Rs70 crore in share-based payments, a 218% jump from the year before.
Last year, the Grovers were sacked from the firm owing to financial irregularities. Within days, Ashneer stepped down from the company and its board. In December, a criminal lawsuit was filed against Grovers and the company sought ₹ 88.67 crore in damages. Grovers were accused of cheating and embezzling funds.
Earlier this month, Suhail Sameer stepped down as CEO and a statement regarding the same said that he will “transition from chief executive officer to strategic advisor effective January 7, 2023".
BharatPe’s revenue from operations rose 284 percent to ₹457 crore in FY22, while net loss widened 3.5 times to ₹5,610 crore. In FY 22, the company’s expenses on account of salaries and wages increased 116 percent to ₹110 crore and advertising costs rose 535 percent to ₹246 crore, the Moneycontrol report cited
