PhonePe turns profitable with adjusted PAT, revenue up 74% for FY24

Fintech major PhonePe Group on Monday reported an impressive turnaround, recording an adjusted profit after tax at Rs 197 crore for the financial year 2024 (FY24) against a loss of Rs 738 crore in FY23.

This is the first time the company has reported profit on consolidated numbers.

The Walmart-owned firm reported a 74 per cent jump in its revenue for FY24 at Rs 5,064, up from Rs 2,914 crore in FY23.