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Razorpay FY25 revenue surges ~65%; net loss widens on ESOP cost
Razorpay’s FY25 revenue jumped ~65% even as net loss widened, driven mainly by ESOP costs amid continued product and scale investment.
Fintech platform Razorpay reported around 65% year-on-year revenue growth for FY25, reflecting scale in payments, neo-banking, and merchant services. Despite top-line strength, the company posted a net loss of roughly ₹1,209 crore, largely on account of ESOP-related expenses and ongoing growth investments. Management emphasized profitability discipline while continuing to expand product suites for SMEs and enterprises. Observers see robust payments volumes and cross-sell potential, but will monitor unit economics, regulatory clarity, and funding conditions for late-stage private tech.