PhonePe reported consolidated revenue from operations of Rs 7,920 crore in FY26, according to regulatory filings submitted to the Registrar of Companies (RoC).
The company recorded a top-line increase of Rs 815 crore, representing an 11.47% year-on-year growth compared with the previous fiscal year.
PhonePe said it has not recognized revenue related to the UPI Digital Incentive (DI) for FY26 because the government has yet to release the incentive funds to the industry. The company expects this portion of the FY26-related DI revenue to be reflected in its FY27 financial statements.
On a normalized operational basis, PhonePe reported a net loss of Rs 1,377 crore for FY26. Its total consolidated net loss stood at Rs 2,792 crore, compared with Rs 1,727 crore in FY25.
The company noted that its FY26 net loss included several one-time items, including a one-time ESOP acceleration charge, a non-cash goodwill impairment, a gain on the sale of a partial stake in an associate, and losses from discontinued operations.
Beyond its core digital payments business, PhonePe continued to strengthen its position as a multi-sector fintech ecosystem.
The company has secured regulatory licenses to operate across multiple financial services segments, including payment aggregation, insurance broking, wealth management, and lending.
PhonePe also continues to receive strong backing from global institutional investors, with Walmart, through WM Digital Commerce Holdings Pte Ltd, retaining a 73.33% stake in the company.
Founded in December 2015, PhonePe has grown into one of India’s leading fintech platforms, focusing on digital inclusion for both consumers and merchants. The company recently announced that it has surpassed 700 million lifetime registered users and 50 million lifetime registered merchants, with a significant presence across Tier 2, Tier 3, Tier 4 cities, and beyond.
PhonePe delivered 11.47% revenue growth in FY26, with consolidated revenue reaching Rs 7,920 crore, even as reported net losses increased due to multiple one-time items. With pending UPI Digital Incentive revenue expected in FY27, expanding financial services offerings, and more than 700 million registered users, the fintech company continues to strengthen its position in India’s digital financial ecosystem.
