BharatPe Logs 182% Growth In Revenue In FY23, EBITDA Loss Reduced By Rs 158 Crore

BharatPe's revenue from operations climbed 182 per cent year-on-year to Rs 904 crore in FY23

BharatPe said its financial performance for the fiscal year 2023, showcased substantial growth and strategic advancements across key business segments.

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BharatPe, one of India's leading fintech platform, on Tuesday announced that its revenue from operations climbed 182 per cent year-on-year (YoY) to Rs 904 crore in FY23, while loss before tax dropped to Rs 886 crore from Rs 5,594 crore during the period. Additionally, the EBITDA loss also decreased by approximately Rs 158 crore, showcasing focused efforts towards financial sustainability. 

BharatPe asserted that its strategic focus going forward is on sustained profitability, scaling lending, and launching new merchant-centric products. "The fintech firm recorded 182 per cent increase in revenue from operations in FY23, from Rs 321 crore in FY22 to Rs 904 crore in FY23," the release said.

In the lending vertical, BharatPe said its merchant lending division saw remarkable growth, with a 129 per cent increase in loans facilitated (reaching Rs 5,339 crore) "emphasising BharatPe's commitment to empowering merchants".

BharatPe also introduced revenue streams, including QR usage, credit card bill payments, and utility payments, as it chased innovation and diversification as per the release. "On the other hand, Swipe business experienced a remarkable 63 per cent increase in TPV, and the installation of approximately 8 lakh new soundbox devices in FY23 highlights BharatPe's continuous efforts to expand its presence and drive financial inclusion as well as adoption of digital payments across the country " it said.

Nalin Negi, CFO and Interim CEO, BharatPe, said, "We are thrilled to announce yet another year of exceptional performance at BharatPe. The significant growth across our business verticals, coupled with improved financial metrics, underscores our commitment to creating value for our merchants and stakeholders. These results are a testament to the hard work and dedication of our team, as well as the trust and support of our valued customers."

He said that BharatPe is committed to building a sustainable business, fostering financial inclusion, nurturing partnerships and establishing itself as a leading merchant-first fintech company in the country.