NPCI's Net Profit Surpasses Rs 1,000 Crore in FY24

• The National Payments Corporation of India (NPCI) reported a 37% increase in net profit, reaching Rs 1,134 crore in FY24.
• This makes NPCI one of the first payments-based entities in India to surpass Rs 1,000 crore in net profit.
• NPCI's total revenues increased by 42% to Rs 3,279 crore, primarily from transaction fees on platforms like UPI, RuPay, and IMPS.
• Major expenses included marketing and promotions, which surged by 765% to Rs 782 crore, and employee costs, which rose by 34% to Rs 324 crore.
• NPCI continues to reinvest its profits to develop new products, maintaining its not-for-profit mandate.

Source: The Arc