major PhonePe reported an 11% increase in revenue to ₹7,920 crore for FY26, but its net loss widened by 62%, raising questions as it prepares for an anticipated .
₹7,920 crore
FY26 Revenue
FY25: ₹7,135 crore (est.)→₹7,920 crore
⏳ Time Machine
How today’s news fits into the bigger picture
2015
PhonePe Founded
Sameer Nigam, Rahul Chari, and Burzin Engineer founded PhonePe, initially focusing on peer-to-peer payments using the then-nascent UPI platform, quickly gaining traction in the Indian market.
2016
Acquisition by Flipkart
E-commerce giant Flipkart acquired PhonePe, providing it with significant capital and user base access, accelerating its growth and diversification into broader financial services.
2019-2021
Dominance in UPI Payments
PhonePe emerged as one of the leading players in India's UPI ecosystem, consistently processing billions of transactions monthly and expanding its offerings to include insurance, mutual funds, and digital gold.
Early 2023
Full Separation from Flipkart
PhonePe completed its full separation from the Flipkart Group, with Walmart remaining a major investor. This move paved the way for its independent fundraising and IPO plans.
FY25
Revenue Grows to ~₹7,135 Crore
In the previous fiscal year, PhonePe's revenue reached approximately ₹7,135 crore, establishing the base for the 11% growth reported for FY26. The company was also loss-making then, but at a smaller scale.
Late 2025
IPO Preparations Intensify
Reports indicated that PhonePe intensified its preparations for an IPO, targeting a listing in India. The company began engaging investment banks and streamlining its corporate structure for public listing.
Today
PhonePe announced FY26 revenue grew 11% to ₹7,920 crore, but net losses widened by 62% ahead of its anticipated IPO.
What happens next?
PhonePe will need to articulate a clear path to profitability and manage investor expectations as it proceeds with its highly anticipated Initial Public Offering.
Fintech giant PhonePe has released its financial results for fiscal year 2026, showing an 11% increase in revenue to ₹7,920 crore. However, this growth came at a cost, as the company's net loss widened significantly by 62% during the same period. This mixed financial picture emerges as PhonePe actively prepares for its anticipated Initial Public Offering (IPO). The strong revenue momentum in the second half of FY26, reaching about ₹3,746 crore, suggests improving business dynamics despite the expanded losses. The market will be closely watching how these financials impact its IPO valuation and timing.
💭 If you're wondering…
It means the company is spending more money than it's earning, and the gap between its expenses and revenues is increasing. This often happens in high-growth tech companies that are investing heavily to capture market share and develop new products.
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