Digital payments firm PhonePe posted revenue exceeding ₹7,000 crore for FY25 and reduced its losses compared to the previous fiscal, according to filings with the Ministry of Corporate Affairs (MCA).
On a consolidated basis, revenue from operations rose 41% to ₹7,148.6 crore in FY25 from ₹5,064.1 crore in FY24. Including other income, total revenue increased to ₹7,631.4 crore, up from ₹5,722 crore the previous year.
Expenses grew by 21% to ₹9,394.1 crore, slower than the revenue growth, resulting in a consolidated loss after tax narrowing to ₹1,727.4 crore, from ₹1,996.2 crore in FY24. The company reported other comprehensive income of ₹72.6 crore, reversing a loss of ₹16.3 crore in the prior year.
Founded in December 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, PhonePe is a subsidiary of Walmart Inc. The company has expanded beyond digital payments into insurance, lending, wealth management, and consumer technology platforms such as Pincode and the Indus Appstore. PhonePe has raised nearly $1 billion from investors including General Atlantic and Tiger Global, with a valuation of $12 billion in its last funding round in 2023.
IPO Plans
PhonePe is preparing for a public listing. In February, the company appointed JP Morgan, Citi India, Morgan Stanley, and Kotak Mahindra Capital as merchant bankers to manage its proposed IPO. In April, PhonePe transitioned from a private to a public company, marking a key step toward listing on Indian stock exchanges. The firm noted at the time that this move coincides with its 10-year anniversary and its growth to serve hundreds of millions of customers with innovative financial services and technology solutions.
Additionally, in 2022, PhonePe shifted its domicile from Singapore to India, becoming the first Indian company to do so, which involved a tax payment of about ₹8,000 crore to the Indian government.
