Digital payments and financial services firm PhonePe reported an 11.47 per cent increase in consolidated revenue from operations to Rs 7,920 crore in FY26, up from Rs 7,105 crore in the previous fiscal, according to regulatory filings with the Registrar of Companies (RoC).
The company said revenue growth was driven by continued expansion across its payments and financial services businesses. However, revenue linked to the government's UPI Digital Incentive (DI) scheme for FY26 was not recognised as the incentive has not yet been released to the industry. The deferred income is expected to be reflected in PhonePe's FY27 financials.
On a normalised operational basis, PhonePe reported a net loss of Rs 1,377 crore during FY26. Its total consolidated net loss widened to Rs 2,792 crore, compared with Rs 1,727 crore in FY25, primarily due to one-time items including an ESOP acceleration charge, a non-cash goodwill impairment, gains from the partial sale of an associate, and losses from discontinued operations.
The Walmart-backed fintech said it continues to expand beyond digital payments into a broader financial services ecosystem, having secured regulatory licences for payment aggregation, insurance broking, wealth management and lending. The company also crossed 700 million lifetime registered users and 50 million lifetime registered merchants during the year. Walmart, through WM Digital Commerce Holdings Pte Ltd, continues to hold a 73.33 per cent stake in the company. |
