PhonePe's FY26 revenue grows to ₹7,920 crore
Indian fintech platform PhonePe reported a consolidated revenue of ₹7,920 crore for FY26, marking an 11.47% increase. Despite the revenue growth, the company recorded a net loss of ₹2,792 crore, attributed partly to one-time charges and investments in new financial services.
Why it matters
As a major player in India's digital payments sector, PhonePe's financial health reflects the broader trends and challenges in the fintech ecosystem.
Demonstrating strong top-line momentum, PhonePe's consolidated revenue from operations rose to ₹7,920 crore in FY26, according to regulatory filings with the Registrar of Companies (RoC).
This represents a top-line expansion of Rs 815 crore, marking an 11.47% increase compared to the previous fiscal year.
As the government is yet to release the UPI Digital Incentive (DI) funds for FY26 to the industry, the revenue associated with DI has not been recognized in FY26.
This portion of the FY26-related DI revenue is expected to accrue in PhonePe's FY27 financials.
On a normalised operational basis, PhonePe's net loss for FY26 stood at ₹1,377 crore, while the total consolidated net loss was reported at ₹2,792 crore (vs. ₹1,727 crore in FY25).
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