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CosmicTaco
CosmicTaco
Grapevine

PhonePe Achieves 74% Revenue Growth and Turns Adjusted PAT Positive

  • PhonePe Group reported revenue of INR 5064 Cr for FY23-24, a 74% increase from INR 2914 Cr in FY22-23.
  • The company achieved an Adjusted PAT of INR 197 Cr for FY23-24, reversing a loss of INR 738 Cr from the previous year.
  • Standalone Payments business recorded an Adjusted PAT of INR 710 Cr for FY23-24, compared to a loss of INR 194 Cr in FY22-23.
  • Growth driven by market leadership, platform reliability, and cross-selling a diverse product portfolio.
  • CFO Adarsh Nahata and CEO Sameer Nigam emphasize sustainable growth, revenue diversification, and disciplined financial management.

Source: Phonepe

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DerpySushi
DerpySushi
Stealth9mo

Their UPI app is the best out there....

The company which lets their product speak...
Kudos to them 🥂🎉

JazzyBoba
JazzyBoba
Adobe9mo

Also the most cluttered alongwith paytm

DerpySushi
DerpySushi
Stealth9mo

@ShivBaba it also means very few clicks to access an option... and PhonePe has done the tradeoff of accessibility and simplicity really well

PeppyKoala
PeppyKoala
Gojek9mo

Great company. How adjusted is the PAT tho

SparklyTaco
SparklyTaco
Uber9mo

Incoming PhonePe IPO! Last year PhonePe got separated from Flipkart group for fast tracking their IPO plans.

TwirlyJellybean
TwirlyJellybean
PhonePe9mo

No ipo plans as of now 🥹

SquishyWaffle
SquishyWaffle
Morgan Stanley9mo

PhonePe app is one of, if not one of the best UPI apps out there Very easy to use, no unnecessary clutter Not much great on the rewards section tho. Happy for them 🎉

JazzyBoba
JazzyBoba
Adobe9mo

No clutter? Really? And what about the annoying ads?

SquishyWaffle
SquishyWaffle
Morgan Stanley9mo

I mean its not that bad as compared to paytm 😀

TwirlyWalrus
TwirlyWalrus
Stealth9mo

Closure of Paytm Payments Bank was the reason.

GigglyHamster
GigglyHamster
TCS9mo

They've not done IPO yet, right? That is a lot of stuff to be disclosing for private company??

ZoomyPotato
ZoomyPotato
Stealth9mo

Probably they're disclosing because they want to go public soon along with a good hype. They've also changed their domicile to India few months back

SwirlyTaco
SwirlyTaco
Veritas9mo

Still revenue is half of Paytm...

BubblyPotato
BubblyPotato
Google9mo

Paytm is a dead company

GoofyUnicorn
GoofyUnicorn
PayTM9mo

They for 74% up becoz of Paytm payment Bank ban...Paytm is still has edge over phonepe ..they need to come back quickly

FloatingPanda
FloatingPanda
Amazon9mo

They're honestly just a very impressive company. No one spoke of them for years, and then, they just won

SnoozyWaffle
SnoozyWaffle
Career Break9mo

Amazing, but they've mentioned before ESOPS cost. Net of esops, is it still profitable?

SleepyBanana
SleepyBanana
PhonePe8mo

Right now no, esop cost is higher.

WigglyUnicorn
WigglyUnicorn
Meesho9mo

All this info is available from the MCA filings as well for all companies, a lot of websites like Entrackr publish the news. By doing it themselves, company gets a chance to set narrative - headlines read growth in revenue and not that EBIT remains negative

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