Three years after the Ashneer Grover controversy broke out and dragged BharatPe into months of turmoil, the fintech giant has made a comeback of sorts. And while we still await the results for FY25, as we saw this week, the company has bounced back from losses to a break-even point.

Specifically, it has reached this position after the first nine months of the fiscal year from a net loss of INR 492 Cr FY24. How did the company get there, especially when other fintech companies with higher revenue are striving to reach this mark?

That’s what we spoke to BharatPe and fintech analysts about, but before we find out, a look at the other top stories from our newsroom this past week:

• BluSmart’s Stalled Drive: When ICRA downgraded Gensol Engineering, it didn’t just trigger a stock market free fall but also made BluSmart suffer collateral damage, and that’s how BluSmart’s closest ally became its biggest risk
• Paytm’s Super App Crumbling: Paytm was early in the super app race in India, but the past year has led to Paytm shedding parts of its once-mighty super app empire
• PlanetSpark’s AI Turn: From India’s edtech wasteland emerges another ray of hope in the form of PlanetSpark, which has shown that leveraging machine learning and AI can actually turn into profitability

BharatPe In The Break-Even Zone

When Suhail Sameer was removed as BharatPe CEO in January 2023, the company was in a dire shape. The leadership layer had been decimated after a year of controversies and its on-paper losses had spiralled to INR 5,000 in FY22.

Like much of the fintech industry and analysts at the time, we wondered if there was some life left in BharatPe. Since then the company has worked in silent mode amid all the noises around the fintech ecosystem to bounce back, and it would not be an understatement to say that this is a major feat.

According to a BharatPe spokesperson, FY25 is the best year for the company thus far in terms of revenue and profitability. The turnaround began in early 2024.

“We became EBITDA positive for the first time in October 2024 or beginning of Q3 FY25, marking a significant turning point in our journey. In the first nine months of FY25, we not only reduced our losses substantially but also achieved consistent EBITDA profitability. Our revenue has already reached INR 1,787.8 Cr, surpassing the INR 1,534.4 Cr recorded for the entire FY24,” the company told Inc42.

The spokesperson added that the company is on track to close FY25 as a fully EBITDA-positive business. A significant change in the past year has been the shift in focus from payments to........

© Inc42