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Financial Performance Highlights (FY23 vs FY24)

Key Metrics

Metric FY23 FY24 Δ (%) Revenue from operations ₹2,914 Cr ₹5,064 Cr +73.8% Total income ₹3,085 Cr ₹5,725 Cr +85.6% Total expenses ₹5,907 Cr ₹7,756 Cr +31.3% Loss before tax (₹2,802 Cr) (₹2,006 Cr) –28.4% Net loss (₹2,795 Cr) (₹1,996 Cr) –28.6% Adjusted PAT (ex-ESOP) (₹738 Cr) +₹197 Cr +₹935 Cr Cash & bank balances ₹1,081 Cr ₹4,432 Cr +310% Current ratio (CA ÷ CL) 2.09× 4.35× +2.26×

Top Takeaways

Robust Revenue Growth: +74% YoY driven by rapid expansion of payment volumes and financial-services cross-sell.

Margin Improvement: Loss margin narrowed from –96%→–40%; adjusted PAT swung into positive territory (ex-ESOP).

Disciplined Cost Control: Overall expense growth (+31%) well below revenue growth, with headcount and tech investments ramping sustainably.

Strengthened Liquidity: Cash buffer tripled (₹4,432 Cr), current ratio more than doubled to 4.35×, providing ample runway.

Path to Profitability: Core operations now cash-flow positive before stock compensation, setting the stage for full P&L breakeven in FY25–26.