PayU India Nears Break Even with $100 Billion Volume Goal
- PayU India expects to achieve Ebitda profitability this fiscal and PAT by FY27.
- FY25 revenue rose 24% to $669 million; company handled $80 billion in payments and aims for $100 billion in FY26.
- PayU is now a top-three fintech in India by revenue and a leader in online payment processing.
Digital payments firm PayU India expects to achieve Ebitda breakeven in the current fiscal (FY26) and post profit after tax (PAT) by FY27, according to Arvind Agarwal, the company’s Chief Financial Officer. In an interview with Moneycontrol, Agarwal shared that both the payments and credit businesses have stabilised after regulatory disruptions and a shift in the lending model.
“Our payments business has been Ebitda positive for the past three years and has not been burning cash. The credit vertical is expected to break even in the second quarter of FY26. As a whole, PayU India will be Ebitda profitable in FY26 and PAT positive by FY27”, Agarwal stated.
Despite a strong 24% year-on-year revenue growth in dollar terms in FY25, PayU posted losses from core operations. The company’s India revenue stood at $669 million (Rs 5,548 crore), up from 15% growth in FY24. According to Agarwal, PayU now ranks among the top three fintech platforms in India by revenue, alongside PhonePe and Paytm, and leads in online payment processing.
In FY25, the company processed nearly $80 billion in total payment volume and aims to exceed $100 billion in FY26, handling an estimated 2.5 billion transactions. The payments business enjoys a 20% gross margin and a 5% Ebitda margin, he noted.
PayU’s adjusted Ebit margin in FY25 was -7%, reflecting all costs under parent company Prosus’ accounting standards. Nevertheless, the company remains optimistic about turning its growing scale into sustainable profitability in the near term.
