IPO-related PhonePe Trims FY25 Loss up to RS 1,720 Crore because the turnover is 40% yoj to RS 1,998 crore

Digital payments Major and Walmart-stunned Phonepe limited his losses for FY25 after it had reported a consolidated loss of RS 1,720 Crore in FY25, which marked an improvement of 13.9% compared to the RS 1,998 Crore loss that was reported in the previous year. The company rotated the free cash flow with cash flow of operations for an amount of RS 1,202 Crore during the financial year.

The turnover of the company from the activities, however, increased by 40% on an annual basis to RS 7,115 Crore from RS 5,064 Crore in FY24. Payment services remained the mainstay and contributed RS 6,299.7 Crore, while the insurance and credit distribution brought in RS 557.6 Crore. The income from other services were on RS 57.3 Crore. Other income, largely from interest and investments, arrived at RS 516.5 Crore, unveiling official figures from the Ministry of Business Affairs.

Also read: Adani Power -Shares crash 80% in just one day! Is that true?

On the cost side, the benefits of employees are more than doubled to RS 4,096.7 Crore, led by higher salaries and shares -based payments. Depreciation and amortization rose to RS 1,360.3 Crore, while the financing costs at RS were 38.3 crore. Other operational costs, including spending on advertisements, IT infrastructure, legal and support functions, grew up to RS 2,989.2 Crore. PHONEPE reportedly for a $ 1.5 billion initial public offer (IPO) later this year. Kotak Mahindra Capital, JPMorgan Chase, Citigroup and Morgan Stanley, supported by Walmart, has tapped to arrange the offer.

The company is planning to raise around $ 1.5 billion through the offer, which is around RS 13,000 crore, according to a Bloomberg report. This would appreciate the company for $ 15 billion, a considerable jump compared to its last private valuation of $ 12 billion in 2023.

Read more: Cheers on premiumization! These 4 alcohol stocks can meet up to 18%. Do you have one?

In 2022, Phonepe moved its hometown from Singapore to India – an important legal step for companies that are preparing for Indian fairs. The Fintech company was the first of many startups that returned to India, powered by better list perspectives and convenience of regulatory. The Fintech company added that it had also moved the ownership of his recently taken over Indusos Appstore (Oslabs PTE LTD) from Singapore to India.

(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)