The fintech company PhonePe, the largest Unified Payments Interface (UPI) application in India by transaction volume, reported an increase in net loss to ₹2,791.59 crore in the fiscal year 2025-26 (FY26). This figure is higher than the ₹1,727.41 crore recorded in FY25, even with an 11.5% year-on-year revenue growth.
The Bengaluru-based company generated revenue of ₹7,920.48 crore in FY26, compared to ₹7,105.01 crore in FY25. However, PhonePe's total expenses rose to ₹10,588.51 crore in FY26, which is 16% more than the ₹9,116.54 crore in FY25.
In March, the company temporarily suspended its Initial Public Offering plans due to market instability and the conflict in the Middle East. One significant factor affecting revenue was the cessation of income from rent and related categories following guidelines issued by the Reserve Bank of India (RBI).
This category previously accounted for 17.89% of PhonePe's revenue in FY25 and 22.72% in FY24. In the first half of FY26, it contributed 13.44% of the company's total revenue. Furthermore, the ban on real money gaming (RMG) last year reduced the contribution to revenue that previously came from payment services and advertising. In FY25, this segment constituted about 3.5%, and in FY24, 4.65%; in the first half of FY26, its share was only 1.84%.
In recent months, the fintech company has also faced a series of senior management departures. Vishal Gupta, head of PhonePe's insurance division, left this month to launch his own startup after more than ten years with the company. In June, Akash Dongre, co-founder and product director of PhonePe's Indus Appstore, departed. May saw the exit of Ujwal Jain, CEO of PhonePe Share.Market brokerage platform.
In contrast, industry competitor Paytm earned ₹8,437 crore in operating revenue in FY26, while the company posted a net profit of ₹553 crore.
Bharat Coking Coal Ltd (BCCL), a subsidiary of Coal India, announced on Wednesday a net loss of 68.09 crore rupees for the June quarter. This result was attributed to a decrease in revenue and an increase in expenses.
Operating revenue in the first quarter of the current fiscal year amounted to 3,587.27 crore rupees, which is lower than the 3,719.59 crore rupees recorded in the same period last year. The company noted that the decline in sales is linked to a reduction in external supplies from 8.83 million tonnes to 7.81 million tonnes. Furthermore, the decrease in other income is explained by reduced reserves and write-offs of liabilities.
The company's total expenses rose to 3,826.31 crore rupees compared to 3,654.39 crore rupees in the previous year. It should be noted that in the corresponding period last year, BCCL reported a profit of 176.87 crore rupees, according to filings with BSE.
Bharat Coking Coal Ltd manages an extensive network of open-pit and underground mines in Jharkhand and West Bengal, with a particular focus on the Jharia coalfield. The company's operations encompass various strategic projects that contribute to the mission of producing coking coal for the country, as well as addressing critical fire control issues.
JK Cement Ltd announced on Saturday a 15.3% decline in consolidated net profit during the June quarter. The profit amounted to 274.62 crore rupees.
According to the regulatory filings of JK Cement Ltd (JKCL), in the same period last year, the company earned a profit of 324.25 crore rupees. For the June quarter, operating revenue increased by 20.25%, reaching 4,031.72 crore rupees compared to 3,352.53 crore rupees the previous year.
JKCL's total expenses for the June quarter were 3,664.82 crore rupees, showing an increase of 25.5%. JKCL's total income, which includes other receipts, reached 4,070.97 crore rupees, marking a growth of 19.41% in the first quarter of the 2027 fiscal year.
