Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

After recording flat growth in FY24, payment gateway and point-of-sale (PoS) provider Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25.

The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC).

Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period.

Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25.

Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. To the tune of scale, this cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24.

Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32%  YoY to Rs 33 crore from Rs 25 crore in FY24. Advertisement expense, sub-contractor charges and other overheads added the rest Rs 49 crore. 

For a more detailed expense refer to TheKredible. 

In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period.

On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances.

According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company.

Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

Those claims, and numbers surely have some breakthrough behind them, because otherwise the firm’s track record does not inspire confidence. Over two decades old, still making losses, and barely the beginnings of momentum after crossing a Rs 100 crore topline. The sector is more competitive as ever, and the cash in hand is healthy, but certainly not enough to take the battle to the even more well prepared competition.