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 an ESOP expense of INR 1,209 Cr in the fiscal year.

In a statement, Razorpay said that besides ESOP costs, it also incurred one-time cost related to restructuring 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 2,296 Cr in the previous fiscal year. Fu...