Juspay Trims Net Loss To INR 97.54 Cr In FY24

SoftBank-backed SaaS startup Juspay’s net loss trimmed 7.7% to INR 97.54 Cr in the financial year ending March 31 2024 (FY24) from INR 105.75 Cr in the previous fiscal year.

The company recorded a 49.6% rise in operating revenue for the year under review at INR 319.32 Cr against INR 213.39 Cr reported in FY23. 

While the sale of service accounted for 89.7% of the total operating revenue at INR 286.5 Cr, other operating revenues were at INR 32.80 Cr. 

For the period under consideration, the company witnessed its total expenses climb 29.5% to INR 443.74 Cr in FY24 from INR 342.59 Cr in FY23. Of these total expenses, employee benefit expense accounted for the highest expense at INR 303.36 Cr while other expenses were at INR 123.76 Cr. 

Founded in 2012 by Vimal Kumar and Ramanathan RV, Juspay is a full-stack digital payments software-as-a-service (SaaS) platform which offers payment gateway services. 

Besides, it also develops software for financial institutions, provides support services for application integration, automated business process, among others, to companies across sectors such as BFSI, ecommerce, travel, fintech, and airlines.

The startup in April spun off its mobility application, Namma Yatri, into an independent entity named Moving Tech Innovations Ltd

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