 "PhonePe posts 40% revenue surge, turns free cash flow positive ahead of IPO")
IPO-bound fintech firm PhonePe recorded Rs 7,115 crore in revenue, reflecting a strong 40 per cent year-on-year growth, according to regulatory filings with the Registrar of Companies (RoC).
This was accompanied by the company turning free cash flow positive, with cash flow from operations amounting to Rs 1,202 crore.
PhonePe continued to improve its bottom line, with adjusted EBITDA (excluding ESOP costs) more than doubling to Rs 1,477 crore (from Rs 652 crore in the prior year), and adjusted PAT (excluding ESOP costs) more than tripling to Rs 630 crore (from Rs 197 crore in the prior year).
The company also recorded positive adjusted EBIT (excluding ESOP costs) for the first time at Rs 117 crore.
These strong results have been the outcome of PhonePe diversifying its offerings for consumers and merchants over the last couple of years with its entry into loan distribution and stock broking, adding to its existing payments and financial services suite.
The company reportedly also plans to file its DRHP later this year for a potential listing on the Indian exchanges.