Kunal Shah, the CEO of CRED, talks about how much he makes and why
In the financial year 2022, CRED had a net loss of Rs 1,279 crore.
Kunal Shah, the chief executive officer of CRED, has disclosed that his monthly pay is Rs 15,000. When asked why he kept his salary low, Shah said in an Instagram story that he doesn’t think he should get a big paycheck until the fintech company starts making money.
“I don’t think I should get a good salary until the business starts making money. My salary at CRED is Rs 15,000 per month, and I can make it because I sold my company, FreeCharge, in the past “Shah put a message on Instagram.
“Some CEOs get paid in crores, and then there’s Kunal Shah, “Someone wrote on Twitter and shared a screenshot of Shah’s Instagram story.
The Hindu Businessline said that CRED had a net loss of Rs 1,279 crore in the financial year (FY) 2022, even though its income went from Rs 95 crore in FY21 to Rs 422 crore in FY22, which is a jump of almost 340 percent.
Since FY21, when the company lost Rs 524 crore, its losses have more than doubled. Kunal Shah told the newspaper that the company’s focus on building a community of members and building the brand was to blame for the losses. He said that the company has grown from 7.5 million members in FY21 to 11.2 million members in FY22.
Also Read
- How Shantanu Naidu became Ratan Tata’s assistant
- Kunal Shah, the CEO of CRED, talks about how much he makes and why
- Zomato stops offering its 10-minute delivery option
- Invest Rs 2,130 monthly in THIS LIC Policy and get Rs 48,500,000
Follow us on Instagram to be updated with latest trends: www.instagram.com/moneyscaler
