Juspay Turns Profitable with ₹62 Crore PAT in FY25
Payments solutions provider Juspay Technologies has reported a remarkable turnaround, posting a profit after tax (PAT) of ₹62 crore for FY 2024-25. This comes after a net loss of ₹97.5 crore in the previous fiscal year. The company also achieved its highest-ever revenue of ₹514 crore, a 61% year-on-year increase.
Key Takeaways
- Profit after tax of ₹62 crore in FY25, a significant swing from a ₹97.5 crore loss in FY24.
- Revenue surged 61% to ₹514 crore, the highest in the company’s history.
- Daily transaction volume grew from 175 million to over 300 million.
- Annualized Total Payment Volume (TPV) jumped 150% to $1 trillion.
Drivers of Growth
The strong performance was fueled by a substantial rise in digital transaction volumes and an expanding global client base. Juspay onboarded several prominent international merchants and banks, including Agoda, Amadeus, HSBC, Tiket, and Zurich Insurance.
Global Expansion Strategy
Juspay recently expanded its physical presence with new offices in the US, Europe, Asia-Pacific, and Latin America. Its major merchant clients for payment processing include Amazon, Flipkart, Google, IndiGo, Swiggy, Urban Company, and Zepto.
“Global is still a small part of our business (in terms of revenue); in India, we have large merchants on board. But the international traction we are seeing, while small as a percentage, includes some of the biggest names like Agoda, Tiket, and HSBC,” said Juspay’s chief operating officer, Sheetal Lalwani, on Tuesday while announcing the results.
The company maintains a strong cash position with positive cash flow generation for the year.
“In 2024-25, we have kept marketing spends to a minimum, focusing most of our investments on talent and cloud infrastructure… we have burned very little of our cash in the bank in the year, relying largely on operating cash flow to fund growth and operations,” he said.
Navigating Industry Shifts
Earlier in 2025, Juspay faced a significant ecosystem shift when major payment gateways, including Razorpay, PhonePe, and Cashfree, terminated their partnerships. This followed Juspay securing its own Payment Aggregator licence in 2023, positioning it as a potential competitor.
However, the company clarified that this had no direct revenue impact.
“There was zero revenue impact from that because there was no commercial relationship that we had… I’m a pure play tech player,” Lalwani said.
He explained that Juspay’s platform gives merchants full control over payment routing decisions, acting as a flexible technology switch.
Funding and Business Segments
The fintech firm has raised approximately $147 million since its inception in 2012. Its latest Series D round in April 2025 secured $60 million, led by Kedaara Capital, with participation from SoftBank Vision Fund and Accel Capital.
Juspay’s revenue is split evenly between two core segments:
- Merchant Payment Orchestration: Technology that manages and routes merchant payments through multiple gateways.
- Bank Infrastructure Services: Includes UPI and card acquiring services provided to banks.
In payment orchestration, it competes with Razorpay. In the broader payment aggregator space, key players include and .
