PhonePe turns profitable, reports Rs 197 cr PAT

BENGALURU: Fintech major PhonePe on Monday reported a 74% jump in its revenue at Rs 5,064 crore for the financial year 2023-24 (FY24)compared to Rs 2,914 crore in the previous fiscal.

The Walmart-backed firm has achieved profitability (excluding ESOP costs), as it reported an adjusted profit after tax (PAT) of Rs 197 crore for FY24 compared to Rs 738 crore loss in FY23.

Its standalone Payments business recorded adjusted PAT of Rs 710 crore for FY24 compared to Rs 194 crore loss for FY23.