Juspay’s revenue rose 29% in FY26 to ₹664 crore, but the company reported a net loss of ₹90 crore after a profitable FY25. Moneycontrol’s October 9, 2026 report attributes the loss to accelerated investment in AI and international expansion. The same report says the India payments business remained profitable and adjusted EBITDA stayed positive.
The FY26 figures in this article come from that Moneycontrol report. No company-issued FY26 results release or audited filing was available for this article, so treat the numbers as reported, not audited. The FY25 comparison figures come from Juspay’s own announcement.
What Moneycontrol reported for FY26
According to Moneycontrol, Juspay’s FY26 results included four figures that readers often blur together. Each one measures something different:
- Revenue: ₹664 crore, up 29% year over year from ₹514 crore in FY25.
- Net loss: ₹90 crore. This is the bottom-line figure after all costs, including employee stock option (ESOP) expenses.
- Adjusted EBITDA: described as positive. The report summary used for this article does not give a number for it.
- Profit excluding ESOP expenses: ₹33 crore. This is not a net profit figure. It leaves out ESOP costs, so it should not be read as the company’s profit after all expenses.
The report also says the core India payments business stayed profitable and that overseas revenue made up less than 10% of FY26 revenue. Those two points matter for reading the loss, discussed below.
#1 Best Overall
How FY26 compares with FY25
Juspay’s FY25 results were announced on November 12, 2025, in a company release. That release reported ₹514 crore in revenue, 61% growth, and ₹62 crore profit after tax. It credited growth to transaction volumes, a wider client portfolio, operating efficiency, and expansion into new geographies.
| Measure | FY25 | FY26 |
|---|---|---|
| Revenue | ₹514 crore, 61% growth (Juspay release, November 12, 2025) | ₹664 crore, up 29% (Moneycontrol, October 9, 2026) |
| Bottom line | ₹62 crore profit after tax (Juspay release) | ₹90 crore net loss (Moneycontrol) |
| Adjusted EBITDA | Not stated in the FY25 release | Positive; figure not stated (Moneycontrol) |
| Profit excluding ESOP expenses | Not stated in the FY25 release | ₹33 crore (Moneycontrol) |
| Overseas share of revenue | Not stated in the FY25 release | Under 10% (Moneycontrol) |
| India payments business | Not stated in the FY25 release | Profitable (Moneycontrol) |
The table compares measures that the two sources report differently, so it shows direction rather than a precise like-for-like change. The clearest finding is that revenue kept growing while the bottom line moved from profit to loss.
Rank #2
Why the loss does not settle the question
A net loss at a growing company can come from several places: a deliberate push into new spending, a weaker core business, or both. Moneycontrol’s report points mainly to the first. The India payments business remained profitable, and adjusted EBITDA stayed positive, so the loss is not simply a sign that Juspay’s core payments operation has stopped earning money.
The report does not break the loss down by cause. It does not say how much of the spending went to AI, how much went to overseas expansion, or how much came from ESOP costs. Readers should treat the explanation as management’s account of the drivers, without a quantified split.
Where the AI spending is going
Moneycontrol names three AI offerings. The descriptions below are the company’s own, as reported by Moneycontrol. They have not been independently tested for performance or accuracy.
Xyne
Described as an open-source enterprise AI platform.
Rank #4
Breeze Universal
Designed for brand discovery and agentic commerce across AI platforms.
Genius
Designed for AI-assisted analysis of payment data and payment operations.
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Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What management expects, and what is not yet shown
Sheetal Lalwani, Juspay co-founder and COO, told Moneycontrol: “We are expecting these investments to show up in our topline numbers for FY 27.” That is a management expectation, not a forecast with a confirmed outcome, and the FY26 numbers do not yet show any AI-driven revenue gain.
The report also says Juspay expects overseas revenue to reach a double-digit share of revenue in the current fiscal year. That is also an expectation. Overseas revenue was under 10% in FY26, so the target would require a clear step up. Juspay’s FY25 release had already described FY26 plans to keep investing in product development, global expansion, and AI capabilities. Spending on those plans is what the FY26 loss reflects, but spending alone does not show a return.
What Juspay does
Juspay describes itself as a payments technology company serving enterprises and banks. The FY26 revenue figures and the India payments business described above sit within that core payments activity, while the AI products and overseas push are newer areas of spending.
Quick Recap
What to check next
- Whether Juspay publishes an official FY26 results release or audited filing that confirms the ₹664 crore revenue and ₹90 crore net loss.
- Whether the adjusted EBITDA figure is disclosed, so it can be compared with the net loss.
- Whether overseas revenue reaches the double-digit share management expects in the current fiscal year.
- Whether the FY27 topline shows the gain management has linked to its AI and international investment.
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