Razorpay FY25 revenue jumps 65% to Rs 3,783 crore
16 Oct 2025, 03:21 PMThe company reported a loss, post-employee stock ownership plan (ESOP) expenses of Rs 1,209 crore.
Team Head&Tale
Share the story on
Indian fintech unicorn Razorypay said that its consolidated revenue grew 65% to Rs 3,783 crore in the fiscal ended March 31, 2025 as compared with Rs 2,296 crore in the previous financial year.
Razorpay’s gross profit increased 41% to Rs 1,277 crore in FY25 from Rs 906 crore in the previous fiscal, it said in a statement.
However, the company reported a loss, post-employee stock ownership plan (ESOP) expenses of Rs 1,209 crore, driven by costs incurred for restructuring and tax payments associated with the redomiciling to India.
Razorpay had completed its reverse flip to India earlier in May by shifting its parent company's domicile from the US to India.
The payment aggregator, which along with a host of other startups took advantage of new government rules that eased the reverse flip process, is estimated to have incurred around $400 million in tax outgo during the transition.
Commenting about the FY25 financials in the statement, Harshil Mathur, CEO & co-founder, Razorpay, said that beyond online payments, the company is seeing promising traction in newer businesses. He added that online payments is now (earnings before interest, taxes, depreciation, and amortization) EBITDA profitable and generating strong cash flows.
Razorpay also said that it continues to prioritize investments in AI-first products, financial infrastructure,
and new verticals that enhance value for its partner businesses.
Earlier this month, AI startup OpenAI said that it is partnering with Razorpay and National Payments Corporation of India (NPCI) to launch agentic payments on ChatGPT and explore AI-driven commerce in India.
Razorypay, which is backed by investors including Peak XV Partners, Tiger Global, Lightspeed and GIC, has raised over $800 million so far.
The company was aiming for a public listing in about two-three years.
Meanwhile, other venture capital backed fintech companies including Pine Labs, PhonePe and Groww have drawn closer to public listing as they are at different stages of having filed draft papers for the initial public offering (IPO) with the markets regulator Securities and Exchange Board of India (SEBI) or already received approval for the IPO.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
