PhonePe brings down losses to Rs 1,996 crore in FY24, revenues up 85%

Fintech major PhonePe trimmed its losses to Rs 1,996 crore in financial year 2024 (FY24), a substantial decrease from a loss of Rs 2,792 crore it posted in FY23. The Bengaluru-based company saw its revenue from operations grow 1.7 times on a year-on-year (YoY) basis.

In FY24, the company earned Rs 5,725 crore in revenue from operations, up 85.5 per cent from Rs 3,085 crore it earned in FY23.