Razorpay revenue soars 65% in FY25; gross profit crosses Rs 1,200 Cr

Following a strong performance in FY24, payments and business banking platform Razorpay posted a 65% year-on-year growth in its consolidated revenue to Rs 3,783 crore, compared to Rs 2,296 crore in FY24.

According to the company, its growth in the last fiscal year has been driven by solid execution across its payment gateway, banking, POS, and international businesses, the company said in a statement.

The Bengaluru-based firm’s gross profit grew 41% year-on-year to Rs 1,277 crore from Rs 906 crore. Despite robust top-line growth, Razorpay reported a loss in FY25 after accounting for ESOP-related expenses of Rs 1,209 crore. 

The company attributed the losses to restructuring and tax costs linked to its redomiciling to India.

“FY25 was a pivotal year for Razorpay,” said Harshil Mathur, CEO and co-founder. “We delivered top-line growth through strong execution while simultaneously improving our gross margins. Beyond online payments, which is now EBITDA-profitable, we’re seeing promising traction in newer businesses that are rapidly scaling and unlocking new growth vectors.”

CFO Arpit Chug added that the company has been embedding financial discipline at the product level to ensure efficient capital allocation between mature, cash-generating units and emerging verticals. Razorpay also highlighted its strong cash position, which gives it the flexibility to invest in innovation and long-term expansion.

The company plans to accelerate product-led growth and deepen investments across its core fintech stack, AI-first products, and financial infrastructure. It continues to expand internationally, especially in Southeast Asian markets such as Malaysia and Singapore.

Founded in 2014 by IIT Roorkee alumni Shashank Kumar and Harshil Mathur, Razorpay has raised over $800 million from investors including Lightspeed, Tiger Global, Peak XV Partners, and GIC.

After completing its reverse flip to India, the company converted into a public entity in April 2025. Recently, Razorpay also invested $30 million to acquire rewards-first UPI payments app POP.