CoinDCX's India entity FY21 profit jumps nine-fold to Rs 4.36 crore, revenue rises to Rs 38.91 crore
While the company's overall expenses increased to over Rs 40 crore from Rs 5.71 crore in FY20, personnel costs also increased to over Rs 11.69 crore from Rs 3.98 crore
By Shashank Bhardwaj
Neblio Technologies, an Indian subsidiary of crypto trading platform CoinDCX, increased its earnings after tax from FY20's Rs 45.63 lakh to Rs 4.36 crore in FY21. This follows the sharp increase in trading activity among crypto exchanges last year, at the height of the market.
In FY21, operations' revenue increased more than six times to Rs 38.91 crore. The exchange generated Rs 6.23 crore in revenue in FY20. While the company's overall expenses increased to over Rs 40 crore from Rs 5.71 crore in FY20, personnel costs also increased to over Rs 11.69 crore from Rs 3.98 crore.
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