India, July 25 -- Demonstrating strong top-line momentum, PhonePe's consolidated revenue from operations rose to Rs 7,920 crore in FY26, according to regulatory filings with the Registrar of Companies (RoC).

This represents a top-line expansion of Rs 815 crore, marking an 11.47 per cent increase compared to the previous fiscal year.

As the government is yet to release the UPI Digital Incentive (DI) funds for FY26 to the industry, the revenue associated with DI has not been recognized in FY26.

This portion of the FY26-related DI revenue is expected to accrue in PhonePe's FY27 financials.

On a normalized operational basis, PhonePe's net loss for FY26 stood at Rs 1,377 crore while the total consolidated net loss was reported at Rs 2,792 ...