India, Nov. 5 -- Crypto exchange CoinSwitch's Singapore-based parent entity Chain Labs Pvt Ltd's net loss for the fiscal year ending March 2025 (FY25) widened 108% YoY to $37.6 Mn (INR 333.1 Cr) from $18.1 Mn (INR 160.3 Cr) in FY24, despite a sharp increase in operating revenue.

The startup's revenue from operations surged 219% to $14.6 Mn (INR 129.5 Cr) during the year under review from $4.6 Mn (INR 40,8 Cr) in FY24.

However, total revenue, including other income, was almost flat at $22.95 Mn (INR 203.3 Cr) in FY25 as against $22.42 Mn (INR 198.7 Cr) in FY24. This was due to a $8.1 Mn reversal of impairment losses on digital assets recorded in FY24. This number was nil in FY25.

Total costs and expenses climbed 55% to $59.2 Mn (INR 524...