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The company, however, added that it remained adjusted EBITDA positive at Rs 33 crore, excluding non-cash ESOP costs.
Niyo’s total operating expenses grew 20% to Rs 201 crore in FY26, compared with Rs 168 crore in the previous fiscal.
Revenue rose 13% to $781 million for the year ended March 31, 2026.
The payments business grew 20% to $301 million during the period, fuelled by a 55% jump in payment transactions led by UPI.
The company reported a loss, post-employee stock ownership plan (ESOP) expenses of Rs 1,209 crore.
Its operating revenue increased around 17% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24.
