फोनपे ग्रुप पहली बार मुनाफे में आया: FY24 में ₹197 करोड़ का प्रॉफिट दर्ज किया, कंपनी का रेवेन्यू 74% बढ़ा ​​​​​​​

PhonePe Group has become profitable in the financial year 2024. Fintech major PhonePe gave this information on Monday. The company has reported an adjusted profit after tax of Rs 197 crore for FY24.

The company had a loss of Rs 738 crore in FY23. This is the first time the company has reported profit in consolidated numbers. PhonePe is a subsidiary of Walmart.

PhonePe revenue grew 74% in FY24
PhonePe has recorded a 74% growth in its revenue in FY24, growing from Rs 2,914 crore in FY23 to Rs 5,064 crore.

PhonePe’s focus is on increasing operating profit
This achievement of top-line growth along with sustainable bottom-line improvement is a result of PhonePe’s focus on enhancing operating profits through automation and cost efficiency, the company said.

Sameer Nigam, Founder and CEO, PhonePe, said, “We believe that our focus on disciplined financial management will help us drive profitability of our payments business, which in itself is a unique achievement in the Indian context.

We also believe that optimisation of investments and capital allocation, combined with building a diversified revenue model and remaining customer focused, will provide a solid foundation for continued future success.’

Registered standalone profit of Rs 710 crore
PhonePe has reported a standalone adjusted profit after tax of Rs 710 crore for FY 23-24. The company had a loss of Rs 194 crore for FY 22-23.

PhonePe is the largest company in the UPI ecosystem. The company has also expanded into financial services like insurance, lending and wealth. The group also has a consumer tech business called Pincode.