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

CosmicTaco · 2024-09-16T11:46:21.772567+05:30

- 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](https://thearcweb.com/article/npci-upi-net-profit-1000-crore-fy24-dilip-asbe-phone-xlkXHuIp75n9nrW9)

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