Mswipe’s payment business turns profitable, FY24 revenues grow 6%

Mswipe’s core payments business turned profitable in financial year 2024 (FY24), posting a cash profit of Rs 4.5 crore, compared to a loss of Rs 1.1 crore in FY23 and a larger loss of Rs 16 crore in FY22.

The Mumbai-based company’s payments revenue grew marginally by 6.25 per cent, from Rs 259.2 crore in FY23 to Rs 275.4 crore in FY24. The payments service provider operates as both an online payments aggregator and an offline payments acceptance platform.