By CIO Insider Team
 

PhonePe, a fintech giant, has registered a negative conversion of its consolidated losses to 1727.4 crore in FY25 compared to 1996.1 crore in the previous year.

Data accessed through Tofler showed that the company increased its revenue of operations by 40.5 percent between FY24 and FY25, which was 5, 064 crore and 7 115 crore, respectively.

PhonePe, which is due to submit its draft Red Herring Prospectus (DRHP) later this year, has tripled its adjusted Profit After Tax (PAT) to Rs630 crore in FY25, against Rs197 crore in the preceding fiscal year.

The Walmart group turned free cash flow positive in the financial year ending March 31, 2025, with net cash flow from operations amounting to Rs.1,202 crore.

PhonePe’s total expenses grew 21 percent year-on-year to Rs.9, 394 crore in FY25.
The company has been preparing for a public listing. In February, PhonePe appointed JP Morgan, Citi India, Morgan Stanley, and Kotak Mahindra Capital as merchant bankers to manage its proposed initial public offering. In April, PhonePe transitioned from a private firm to a public company in preparation for its IPO. It said at the time,

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“The company is commencing preparatory steps in connection with its potential IPO and plans to list on Indian exchanges. This marks a significant milestone for the company, which will celebrate its 10-year anniversary this year, and has grown to serve hundreds of millions of customers with innovative financial services and technology solutions.

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In 2022 the company shifted its domicile from Singapore to India, becoming the first Indian company to complete such a move. The restructuring involved a tax payment of about Rs 8,000 crore to the Indian government.