BharatPe Group, a leading name in India’s fintech landscape, has announced its impressive financial performance for FY24, showcasing remarkable growth across its business verticals. The company reported a sharp 75% reduction in its consolidated EBITDA loss before share-based payment expenses, dropping from ₹826 crores in FY23 to ₹209 crores in FY24.
Additionally, BharatPe’s consolidated revenue from operations witnessed a 39% year-on-year (YoY) growth, increasing from ₹1,029 crores to ₹1,426 crores, while its consolidated loss before tax was halved, reducing from ₹941 crores to ₹474 crores YoY. One of the key highlights of this financial performance is BharatPe’s significant reduction in cash burn, down by a striking 85% compared to the previous year.
BharatPe Group significantly cuts EBITDA loss by 75%, records 39% growth in revenue from operations in FY24
Expanding Credit and Payment Solutions
BharatPe has cemented its position as a major credit enabler for millions of merchants in India, with its merchant lending portfolio growing by 40% YoY. The company introduced its Android POS (Point of Sale) system for merchants, expanding its already robust range of payment solutions. BharatPe’s soundbox devices, which continue to gain popularity among merchants, also contributed to the company’s steady growth in FY24.
A Year of Transformation and Profitability
Mr. Nalin Negi, CEO of BharatPe, expressed pride in the company’s performance, stating, “FY24 has been a year of remarkable growth for us. We have strengthened our position as the preferred fintech partner for millions of offline merchants, with significant and sustained growth across our business verticals.” Negi also highlighted BharatPe’s focus on expanding credit access to merchants and small businesses (SMEs) across India, a mission that has driven the company’s growth trajectory.
Turning EBITDA Positive
FY24 was a breakthrough year for BharatPe as the company turned EBITDA positive in October 2024, marking a significant milestone in its journey towards profitability. The drastic reduction in cash burn also underscores the company’s commitment to building a sustainable and scalable business. Mr. Negi emphasized that BharatPe’s ability to partner with leading financial institutions to provide credit to merchants is a testament to the strength and reliability of their business model.
Looking Ahead: Scaling Lending and Consumer Offerings
BharatPe is now focusing on expanding its lending vertical, launching new solutions in the POS and soundbox categories, and scaling its consumer-facing business. Mr. Negi added, “We are committed to building BharatPe Group as a renowned name in the fintech industry that caters to both merchants and consumers, and is at the forefront of creating a Viksit Bharat.”
Conclusion
With FY24 marking a pivotal year for BharatPe in terms of growth and operational efficiency, the company’s focus on merchant and SME credit solutions, innovative payment technologies, and partnerships with financial institutions positions it as a strong contender in the rapidly evolving fintech industry. BharatPe’s strategic moves are not only transforming the digital payment landscape in India but also contributing significantly towards the vision of a financially inclusive and progressive nation.
BharatPe’s successful FY24 performance reflects its ongoing commitment to becoming a household name in India’s fintech space, as it continues to empower merchants and consumers alike with innovative financial solutions.
