PayU posts first operational profit of $18M in FY26, captures 25% of India online payments
Prosus reported PayU swung to an $18M operational profit from a $25M loss, on 13% revenue growth to $781M. Payments revenue rose 10% to $577M and credit 19% to $204M, with $682M in lending assets. PayU flagged AI and agentic AI as emerging business risks even as it embeds payments and credit across Swiggy, Meesho, ixigo and Rapido.
What happened
Prosus reported PayU's first operational profit of $18M in FY26 on 13% revenue growth to $781M, capturing 25% of India's online payments revenue. PayU embeds
Key facts
- $18M operational profit FY26
- $25M loss FY25
- revenue up 13% to $781M
- payments revenue up 10% to $577M
- credit revenue up 19% to $204M
- 25% of India online payments revenue
- $682M lending assets
- Mindgate stake 70.7%
Why this matters
With $682M in lending assets, 25% payments share and deepening platform tie-ins, PayU is positioned as either a consolidation anchor in Indian fintech or a strategic asset ahead of a potential public listing.
What to watch
- PayU standalone India IPO filing or DRHP chatter
- Payments take-rate compression or RBI regulatory shifts on lending
- Credit segment NPA/delinquency trends on the $682M book
- New agentic commerce/AI payment partnerships or competitive entrants
- Next-half revenue growth sustaining above 10%
- Prosus amplifies PayU profitability in investor communications to support re-rating
- PayU deepens embedded credit tie-ins with Swiggy/Meesho/ixigo/Rapido to grow $682M lending book
- Accelerated hiring/M&A in AI-native payment orchestration to hedge agentic risk
- Push toward NBFC/lending license expansion to monetize higher-margin credit segment