Credit Card Growth:
- 12.8 Lakh activated credit cards as of June 2024, up from 7.5 Lakh last year.
- Added three new bank partners in the last two quarters, totaling six partners.
Financial Performance:
- Operating revenue: ₹1,502 crore.
- Financial services revenue: ₹280 crore.
- Marketing services revenue: ₹321 crore.
- Contribution profit: ₹755 crore, with a 50% margin.
- EBITDA loss: ₹792 crore, net loss: ₹840 crore.
- Cash balance: ₹8,108 crore as of June 2024.
Future Outlook:
- Expected revenue growth and profitability.
- New merchant signups at January 2024 levels, marginally increasing the merchant subscriber base to 1.09 crore.
- Monthly transacting users stabilized at 7.8 crore, with increasing GMV.
Strategic Partnerships:
- Approved by NPCI to participate in UPI as a TPAP under a multi-bank model.
- Partnered with Axis Bank, HDFC Bank, State Bank of India, and YES Bank for seamless UPI transactions.