BharatPe’s losses decline in April-Dec 2024 period, achieves EBITDA breakeven

BharatPe's net losses in the first nine months of the current financial year fell sharply to around Rs 148.8 crore, down from nearly Rs 492 crore in the previous fiscal.

The fintech unicorn also reported that it achieved a break-even at the EBITDA level from April to December 2024 when adjusted for employee stock option costs.

This development comes as the company looks to deepen its lending business and targets an initial public offering in the next two years.

Significant decline in losses

India Ratings and Research highlighted BharatPe's improved financials, noting that its net losses dropped from about Rs 492 crore in FY24 to Rs 148.8 crore during the April-December period of FY25.

The company’s losses were even higher, at Rs 926.9 crore, the year before. BharatPe credits this turnaround partly to stronger growth in merchant payment processing fees and service fees for facilitating loans.

Growth through Trillion Loans Fintech

Much of BharatPe’s lending activity is conducted through its non-banking financial subsidiary, Trillion Loans Fintech, also called Trillionloans or TFPL. BharatPe initially acquired a 51% stake in TFPL in April 2023 and later increased it to over 62% by the end of 2025.

The company plans to grow its stake to 100% over the next three years, subject to regulatory approvals. TFPL’s loan book nearly doubled to more than Rs 1,150 crore in the first nine months of FY25, up from about Rs 869 crore in FY24.

India Ratings and Research has assigned a ‘BBB+’ stable rating to Trillion Loans’ Rs 250 crore bank loans, citing its competitive advantage as a subsidiary of BharatPe.

New phase after a legal dispute

BharatPe had been embroiled in a public legal dispute with its former co-founder, Ashneer Grover, but the company says it has now resolved that matter. It is focusing on stabilizing operations and strengthening its financials.

The company has raised more than $580 million from investors such as Peak XV Partners, Tiger Global, Ribbit Capital and Steadview Capital.

BharatPe is now looking to go public within the next 18 to 24 months, although it acknowledges that securing fresh rounds of funding may be challenging given the current market climate for unsecured lending.