BharatPe FY24 revenue grows 39% to Rs 1,426 crore, Ebitda loss cut by 75%

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BharatPe’s FY24 consolidated revenue grew 39 percent from the previous year while it narrowed its Ebitda loss by 75 percent, the fintech firm said on October 16.

Its consolidated Ebitda loss, before share-based payment expenses, fell from Rs 826 crore in FY23 to Rs 209 crore

Ebitda, short for earnings before interest, taxes, depreciation and amortisation, measures a company's profitability from core operations, excluding non-operational costs to offer a clearer view of its earnings.

The BharatPe Group, backed by Peak XV and Tiger Global, consolidated revenue from operations rose to Rs 1,426 crore from Rs 1,029 crore in FY23.

Its consolidated loss before tax fell 50 percent to Rs 474 crore. The company’s claims to have brought down its cash burn by 85 percent.

The numbers were from a statement issued by BharatPe. The full financial results are yet to be revealed or filed with the Registrar of Companies (RoC).

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The average merchant lending portfolio saw a 40 percent growth, supported by loans originating through its platform.

BharatPe also launched new offerings, including an Android PoS for merchants and continued to expand its soundbox devices, the company said.

The fintech firm rebranded its PostPe app to BharatPe, marking its entry in the consumer payments space besides offering secured loans— two-wheeler loans and loans against mutual funds—via partnerships with OTO Capital and Vol Money.

"FY24 has been a year of remarkable growth for us. We have strengthened our position as the preferred fintech partner for millions of offline merchants, with significant and sustained growth across all business verticals," CEO Nalin Negi said.

"BharatPe turned Ebitda positive in October 2024. We have considerably reduced our cash burn and are on track to build a sustainable and profitable business. Going forward, we will focus on growing our lending vertical and launching new offerings."

The company recently reached a settlement with former co-founder Ashneer Grover, ending acrimonious legal battles and public disputes.

As part of the settlement, Grover will not be associated with BharatPe in any capacity nor be a shareholder, a BharatPe spokesperson said in a statement.

Recently, BharatPe invested around $8-9 million in its non-banking financial (NBFC) arm Trillion Loans and increased its stake in the Mumbai-based firm to nearly 60 percent, per Entrackr report.