CosmicTaco
CosmicTaco

NPCI's Net Profit Surpasses Rs 1,000 Crore in FY24

  • The National Payments Corporation of India (NPCI) reported a 37% increase in net profit, reaching Rs 1,134 crore in FY24.
  • This makes NPCI one of the first payments-based entities in India to surpass Rs 1,000 crore in net profit.
  • NPCI's total revenues increased by 42% to Rs 3,279 crore, primarily from transaction fees on platforms like UPI, RuPay, and IMPS.
  • Major expenses included marketing and promotions, which surged by 765% to Rs 782 crore, and employee costs, which rose by 34% to Rs 324 crore.
  • NPCI continues to reinvest its profits to develop new products, maintaining its not-for-profit mandate.

Source: The Arc

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ZippyMochi
ZippyMochi

Then why do they need to tax transfers and payments below 2k INR on UPI? 🤔

DerpyBurrito
DerpyBurrito

They don't but Tai does as she sees the ₹₹₹ signs and wants to put GST bindi on it

SquishyQuokka
SquishyQuokka

Tai is hungry for money

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