 "Razorpay reports ₹1,209 crore loss in FY25 despite 65% revenue jump")
Fintech firm Razorpay posted a consolidated revenue of Rs 3,783 crore in financial year 2024–25 (FY25), a 65 per cent increase from Rs 2,296 crore in FY24.
Reverse flipping drives losses despite strong topline
The company reported a post-ESOP (Employee Stock Ownership Plan) loss of Rs 1,209 crore, driven by costs incurred for restructuring and tax payments associated with the reverse flipping of its domicile to India.
Razorpay completed its redomiciling from the United States to India in May this year.
Among the country’s largest payment gateways, the company said its gross profit rose 41 per cent, from Rs 906 crore in FY24 to Rs 1,277 crore in FY25.
New business segments and AI investments
“Beyond online payments, which is now EBITDA profitable and generating strong cash flows, we’re seeing promising traction in newer businesses that are rapidly scaling and unlocking new growth vectors for us,” said Harshil Mathur, chief executive officer and co-founder of Razorpay.
Its consolidated revenue includes income from business lines such as Razorpay Payment Gateway (PG), Razorpay POS (point-of-sale), loyalty, RazorpayX, and international businesses.
The company said it would continue investing in artificial intelligence (AI)-first products, financial infrastructure, and new verticals for partner businesses.
“Importantly, we are embedding financial discipline at the product level, ensuring capital is allocated efficiently between mature, cash-generating units and high-potential growth bets,” said Arpit Chug, chief financial officer of Razorpay.
International expansion in Southeast Asia
Razorpay announced its entry into Singapore in March, marking its second international foray after Malaysia three years ago.
The expansion into Singapore aligns with the company’s broader focus on the Southeast Asian market.
In February 2022, the firm acquired a majority stake in Malaysia-based fintech Curlec. Following the acquisition, it launched its first international payment gateway, Curlec, in July 2023.