The National Payments Corporation of India (NPCI) has reported a stellar 42% surge in standalone net profit, reaching ₹1,552 crore in FY25, up from ₹1,095 crore in FY24. The not-for-profit entity also posted a 19% rise in revenue, clocking ₹3,270 crore for the fiscal year ending March 2025.
UPI Drives Growth Despite Zero MDR
NPCI’s robust performance comes on the back of explosive growth in Unified Payments Interface (UPI) transactions, which now account for over 85% of India’s digital payments. In May alone, UPI processed 18 billion transactions worth ₹25 lakh crore, edging closer to surpassing global giants like Visa in daily volumes.
Despite the zero Merchant Discount Rate (MDR) policy upheld by the Finance Ministry, NPCI has managed to maintain profitability, even as fintechs continue to lobby for MDR to sustain operations.
Key Financial Highlights
- Net Profit (Surplus): ₹1,552 crore (up 42%)
- Revenue: ₹3,270 crore (up 19%)
- Previous Year Profit: ₹1,095 crore
- Previous Year Revenue: ₹2,749 crore
These figures are provisional and await audit clearance from the Comptroller and Auditor General of India (CAG).
Expanding Ecosystem and Global Push
NPCI continues to strengthen its digital payments ecosystem through platforms like IMPS, NACH, AePS, and RuPay, which now holds over 80% market share in debit cards. RuPay credit cards linked to UPI are also gaining traction.
Its subsidiaries—NPCI International Payments Ltd (NIPL) and NPCI Bharat BillPay Ltd (NBBL)—are expanding global reach and utility bill aggregation, respectively.
Challenges and Outlook
While NPCI’s financials remain strong, recent UPI outages have drawn scrutiny. The organization is under pressure to ensure system resilience as digital adoption deepens across India’s remotest regions.
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