

Walmart-backed PhonePe reported a 77% increase in revenues to Rs 2,914 crore in FY23, driven by market expansion and new product launches. However, EBITDA losses for its payments business rose to Rs 1,755 crore. The company granted substantial Esops and gave a one-time payout of $700 million to Flipkart employees. PhonePe's market share in UPI total payments value stood at 50.54% in March 2023.


Walmart-backed PhonePe reported a 77% increase in revenues to Rs 2,914 crore in FY23, driven by market expansion and new product launches. However, EBITDA losses for its payments business rose to Rs 1,755 crore. The company granted substantial Esops and gave a one-time payout of $700 million to Flipkart employees. PhonePe's market share in UPI total payments value stood at 50.54% in March 2023.
•EBITDA losses for its payments business rose to Rs 1,755 crore.
•PhonePe granted substantial Esops and gave a one-time payout of $700 million to Flipkart employees.
•Market share in UPI total payments value stood at 50.54% in March 2023.
•PhonePe's focus is on strengthening its leadership position in the digital payments space.







