BUSINESS

For the first time, BharatPe becomes EBDITA positive

Thanks to stronger growth in its lending and payments business, BharatPe turned positive EBDITA (earnings before interest, tax, depreciation, and amortisation) in October with annualised revenue of Rs 1,500 crore, up 31% from the same period last year, the company announced on Tuesday.theindiaprint.com for the first time bharatpe becomes ebdita positive download 2023 11 28t184539.555

To achieve a positive EBIDTA, the financial business also drastically reduced its capital burn, which in 2022–2023 averaged around Rs 60 crore per month.

“This accomplishment is a testament to the confidence our large network of more than 1.3 crore merchant partners has placed in us. We saw tremendous growth with loans enabled on our platform in October, which was a terrific month for us, according to Nalin Negi, CFO and acting CEO of BharatPe.

 

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