India, Aug. 11 -- In early 2024, when listed fintech giants and unlisted startups were shaken by RBI's crackdown on unsecured lending, BharatPe went into "silent mode".

On Friday, the company announced its FY25 results, claiming profitability on an adjusted basis. It reported INR 6 Cr in profit before tax and excluding ESOP expenses from a net loss of INR 342 Cr in FY24. Curiously, revenue grew to INR 1,667 Cr in FY25 from INR 1,426 Cr in FY24, so the big push towards profitability has come on the back of efficiency.

While Paytm saw a decline in its financial services revenue in FY25 by 15%, BharatPe's financial services revenue grew by 10% YOY.

The other listed competitor, Mobikwik reported a 4% growth in financial services revenue on...