India, Jan. 22 -- IPO-bound fintech major PhonePe's net loss zoomed over 20% to INR 1,444.4 Cr in H1 FY26 from INR 1,203.2 Cr in the same period of the prior year, as margins contracted.

The company's loss would have been even higher if not for an exceptional gain of INR 434.5 Cr due to its divestment of a 5% stake in geotech company MapmyIndia during the period under review. PhonePe offloaded the stake in MapmyIndia for INR 480.9 Cr in June last year, of which INR 434.5 Cr was recognised as an exceptional item in H1 FY26.

Meanwhile, PhonePe's operating revenue jumped 22.2% to INR 3,918.5 Cr in H1 FY26 from INR 3,207.5 Cr a year ago.

Payments continued to be the biggest revenue source during the period under review. The company earned ...