Airtel Payments Bank reports revenue growth of Rs. 700 crore in Q3 FY25, up 49% YoY
MFNews
Airtel Payments Bank reports revenue growth of Rs. 700 crore in Q3 FY25, up 49% YoY
Chandigarh: Airtel Payments Bank today announced its consolidated results for the third quarter ended on 31 December 2024, marking record growth with quarterly revenue crossing Rs. 700 crore, up by 49% YoY. The Bank’s net profits stood at Rs. 18.5 crore, up by 70% YoY and the EBITDA grew by 66% YoY to INR 87 crore in Q3 FY25.
During the quarter, the Bank’s Monthly Transacting Users (MTU) exceeded well above 100 million, up by 62% YoY. The annualised gross merchandise value (GMV) close to INR 4,000 billion reflecting the growing adoption of the Bank’s digital savings accounts, merchant propositions and other products. Customer balances also saw a robust increase, crossing INR 3,332 crore, up by 42% YoY.
This growth is fueled by the strong adoption of Airtel Payments Bank’s digital offerings, with more customers opting for its safe digital account for their daily transactions. The Bank is also a leader in the B2B urban transit segment, having issued over 1.7 million RuPay NCMC-enabled cards to date. The adoption of its merchant offerings, including its innovative Soundbox, continues to rise among businesses. The Bank continues to register solid uptake for its solutions in the deep rural pockets of the country.
Anubrata Biswas, MD & CEO of Airtel Payments Bank, said, “We are delighted to announce another quarter of impressive growth, reaffirming the strength of our banking model. As a fully integrated, technology-driven banking platform, we continue to meet the diverse financial needs of both urban and rural customers. Notably, we are now India’s third-largest mobile bank and the preferred choice for a secure second account.”
Airtel Payments Bank continues to be a leading player in India’s digital banking landscape, catering to three key customer segments: Urban Digital, Underbanked, and Industries & Institutions. The Bank processes over 8 billion transactions annually. With over 500,000 banking points, Airtel Payments Bank extends financial services to even the most remote areas. Over 97,000 of these banking points are operated by women business correspondents, further empowering local communities. As a USD 46 billion payments company, the Bank remains at the forefront of driving digital transactions, fostering financial inclusion, and empowering businesses across India. As the largest micro-cash player in the country, the Bank is currently digitizing ₹8,000 crore in cash transactions each month through partnerships with over 4,000 corporate clients.
