BharatPe Turns Operationally Profitable For First Time In October
BharatPe's annualised revenue rose past Rs 1,500 crore in FY24, up 31% from FY23, it said.
Fintech unicorn BharatPe has turned Ebitda-level profitable for the first time in October.
"This financial milestone is attributed to consistent growth across all its business lines. The company has also significantly cut down its Ebitda burn—which was averaging at Rs 60 crore per month in FY23—to attain Ebitda positivity," the company said in a statement on Tuesday.
BharatPe's annualised revenue rose past Rs 1,500 crore in FY24, up 31% from FY23, it said.
In October, the company facilitated loans worth over Rs 640 crore for its merchants, in partnership with its NBFC partners. It recorded a monthly total payment volume of over Rs 14,000 crore across its payment products.
"In the coming months, we'll focus on scaling our lending, point-of-sale, and soundbox businesses. We will also focus on launching new products tailored for our merchant partners, while concentrating on the development of our consumer and NBFC businesses," said Nalin Negi, chief financial officer and interim chief executive officer, BharatPe.
