BharatPe Narrows Losses by 50% in FY24

By By Rediff Money Desk, New Delhi
Oct 16, 2024 18:34
BharatPe Group has narrowed its consolidated losses before tax by 50% to Rs 474 crore in FY24, with revenue rising by 39% to Rs 1,426 crore. The firm also turned EBITDA positive in October 2024.
New Delhi, Oct 16 (PTI) BharatPe Group on Wednesday said it has narrowed its consolidated losses before tax by about 50 per cent to Rs 474 crore in 2023-24.

It had reported losses of Rs 941 crore in FY23, according to a company statement.

The firm's consolidated revenue from operations rose by 39 per cent to Rs 1,426 crore in FY24 compared to Rs 1,029 crore in the previous financial year.

"FY24 was a milestone year for us as BharatPe turned EBITDA positive in October 2024. Also, we considerably slashed our cash burn in FY24 and are on track to build a sustainable and profitable business. Over the last year, we have been able to partner with renowned financial institutions to extend credit access to merchants, which is a great validation for our business," BharatPe CEO Nalin Negi said.

Going forward, he said the firm will focus on scaling its lending vertical, launching new offerings across POS, soundbox, and scaling its consumer vertical.

The group also reduced their cash burn by 85 per cent, the statement said.
Source: PTI
Read More On:
bharatpefy24lossesrevenueebitda
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Ola Electric...
Ola Electric Subsidiary Faces Insolvency...

Rosmerta Digital Services Ltd has filed for insolvency proceedings against Ola Electric...

BIS Cracks Down...
BIS Cracks Down on E-commerce Giants for...

The Bureau of Indian Standards (BIS) has conducted raids on Amazon and Flipkart...

Electronics...
Electronics Sector Poised for Global Growth: MeitY

India's electronics industry is set to become the world's largest manufacturing sector,...

Goyal Provides...
Goyal Provides Homes to Displaced Mumbai Slum...

Union Minister Piyush Goyal handed over keys of new homes to 91 slum dwellers displaced...

Angel One Appoints Rohit Chatter as Chief Data...

Angel One appoints Rohit Chatter as Chief Data Officer, strengthening its AI-driven...

Real Estate Land Acquisitions Surge in India:...

Real estate developers in India acquired nearly 6,000 acres of land during 2022-24,...

NCLAT Orders Investigation into Chennai Bench...

The National Company Law Appellate Tribunal (NCLAT) has ordered an investigation into...

StanChart Raises 1 Billion Euro via First...

Standard Chartered raises 1 billion euro through its first social bond, allocating 50%...

Consumer Complaints Resolution: Govt Aims for...

India's government is building an ecosystem to resolve consumer complaints before...

Sustainable Lifestyle Choices: Joshi Calls for...

Food and Consumer Affairs Minister Pralhad Joshi emphasizes the need for sustainable...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com