India, Oct. 16 -- Despite a robust uptick in its top line, fintech major Razorpay slipped into the red in the fiscal year FY25. While the IPO-bound company refrained from disclosing the exact loss numbers, it said that it incurred a post-ESOP expense of INR 1,209 Cr in the fiscal year.

In a statement, Razorpay said that the additional expense to the expenses related to employee stock ownership plan (ESOP), restructuring costs, and tax payments linked to shifting its corporate domicile to India. It was earlier reported that these reverse flip expenses could soar as high as INR 1,245 Cr (around $150 Mn).

Despite posting a loss in the fiscal, the company claimed that its operating revenue surged 65% YoY to INR 3,783 Cr in FY25 from INR 2,2...