According to the platform, the increase in loss comes on the backdrop of an increased revenue of Rs 25.8 crore in the same financial year.
The loss for the regional language social networking platform also comes on the back of higher expenses.
Accessible in 14 regional languages, ShareChat’s strength has been its popularity in Tier 2 and Tier 3 cities.
ShareChat has started offering multiple options to earn through referrals. For starters, users can share links to their friends and earn INR 50 as well as a scratch card after three successful referrals.
The platform offers its services in 14 languages – Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, and Bhojpuri.