BharatPe Group narrows losses by 50 per cent in FY24

BharatPe Group connected Wednesday said it has narrowed its consolidated losses earlier taxation by astir 50 per cent to Rs 474 crore successful 2023-24. It had reported losses of Rs 941 crore successful FY23, according to a institution statement.

The firm's consolidated gross from operations roseate by 39 per cent to Rs 1,426 crore successful FY24 compared to Rs 1,029 crore successful the erstwhile fiscal year.

"FY24 was a milestone twelvemonth for america arsenic BharatPe turned EBITDA affirmative successful October 2024. Also, we considerably slashed our currency pain successful FY24 and are connected way to physique a sustainable and profitable business. Over the past year, we person been capable to spouse with renowned fiscal institutions to widen recognition entree to merchants, which is simply a large validation for our business," BharatPe CEO Nalin Negi said.

Going forward, helium said the steadfast volition absorption connected scaling its lending vertical, launching caller offerings crossed POS, soundbox, and scaling its user vertical.

The radical besides reduced their currency pain by 85 per cent, the connection said.