Phi Commerce has posted a strong financial performance in FY25, recording revenue above the Rs 100 crore mark along with a significant reduction in annual losses. The Pune based omnichannel payment solutions provider reported a 28 percent year on year revenue growth and narrowed its net loss by 45 percent during the fiscal.
The company’s consolidated financials filed with the Registrar of Companies show operating revenue at Rs 103.9 crore in FY25, an increase from Rs 81.3 crore in FY24. The improvement reflects consistent adoption of its payments infrastructure by enterprises and financial institutions.
Phi Commerce operates an RBI licensed payment aggregator platform that supports both acquiring and issuance. Its technology stack powers online, in-store and on-the-go payment flows and also supports lending and value added services for B2B and B2C clients across global markets.
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Commissions from merchant GMV settlements continued to be the primary revenue stream, contributing Rs 90.82 crore in FY25, which is more than 87 percent of operating revenue. This vertical grew over 25 percent from the previous fiscal. Technology infrastructure services generated Rs 7.36 crore and value added aggregation offerings added Rs 5.73 crore.
The fintech firm also earned Rs 3.9 crore in interest income from fixed deposits and long-term investments, taking total revenue for the year to Rs 107.8 crore.
Total expenses rose 14 percent to Rs 133 crore in FY25 from Rs 117 crore in FY24. Payment processing charges remained the largest cost item at Rs 76.37 crore, while employee related expenses increased 18 percent to Rs 32.7 crore. Other operating costs, including legal and platform support fees along with consultant compensation, accounted for Rs 23.9 crore.
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Better operating leverage and cost control helped the company reduce its net loss to Rs 16.16 crore in FY25, compared to Rs 29.24 crore in FY24. Despite higher revenue from GMV commissions, unit economics indicate that the company spent Rs 1.28 to earn a rupee.
By the close of FY25, Phi Commerce reported an EBITDA margin of negative 24.9 percent and a ROCE of negative 43.74 percent. The company held Rs 70.9 crore in current assets, including Rs 26.3 crore in cash and bank balances as of March 2025.
Data from TheKredible shows that Phi Commerce has raised a total of 25 million dollars so far. This includes 11 million dollars raised in its Series B round led by BEENEXT.
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Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
