India’s fintech sector is entering a new phase of maturity. After years of rapid expansion, FY25 marked the industry’s first profitable year, with aggregate profit after tax (PAT) turning positive. According to a Jefferies report, the sector’s aggregate PAT improved from a loss of ₹116 billion in FY22 to a profit of ₹23 billion in FY25. Over the same period, industry revenue grew nearly five-fold from ₹209 billion in FY21 to ₹1,033 billion in FY25 and is projected to reach ₹2,396 billion by FY30, implying an 18 per cent CAGR. As growth moderates across key segments, fintech firms are shifting their focus from customer acquisition to monetisation, cross-selling and operational efficiency. Key facts:
