In a significant turnaround for one of India's leading payment processors, Prosus CEO Fabrício Bloisi has announced that PayU has achieved profitability after struggling with losses for multiple years. The announcement came during the group's half-year FY26 results presentation, where Bloisi detailed an ambitious ecosystem strategy connecting PayU with various portfolio companies across mobility, travel, credit, and commerce sectors in India.
PayU's Remarkable Financial Turnaround
PayU has transformed from a loss-making entity to generating a positive $3 million in adjusted EBITDA over the past five quarters, marking a dramatic improvement in its financial performance. The company's revenue has shown impressive growth, climbing from $155 million in Q1 FY25 to $214 million in Q2 FY26. This revenue surge accompanied a substantial margin improvement, with the company moving from a $13 million EBITDA loss in Q1 FY25 to the current $3 million profit.
Bloisi acknowledged the payment unit's previous challenges, stating, "Six months ago I told you PayU needed to grow faster and deliver better results. The payments unit had been losing money for the last many years before the recent improvement." The turnaround reflects successful execution of the company's strategic initiatives in the competitive Indian digital payments market.
Building India's Digital Ecosystem
Prosus is actively creating an interconnected digital ecosystem in India, with PayU serving as the crucial connector across its portfolio companies. Bloisi explained that PayU is enabling credit for partners and supporting sales growth across the Prosus network. The strategy mirrors the company's successful ecosystem approach in Latin America.
The global consumer internet group has strengthened its positions in two key Indian portfolio companies - Rapido and Ixigo. Bloisi described Rapido as "the number one mobility company in the country" and revealed that Prosus has become an "important shareholder" in both companies. Ixigo, which serves approximately half a billion customers, will join Rapido in plugging into the Prosus ecosystem.
Expanding Portfolio and Future Outlook
Prosus's India portfolio now includes prominent names like Meesho, Swiggy, and Urban Company, creating what Bloisi calls an "increasingly connected India ecosystem." The company's presentation slides showed Rapido's annualised gross merchandise value increasing substantially between March 2021 and September 2025, while Ixigo's GMV reached $2.2 billion on an annualised basis for FY26.
Bloisi expressed strong optimism about the Indian market, stating, "Working together, the high growth of Rapido, Ixigo, and all the companies you already know... We are going to have an ecosystem in India that is as exciting as what we have in Latin America." He confirmed that Prosus will "keep increasing" its presence in India as part of its regional ecosystem strategy across Latin America, Europe, and India.
The broader half-year results presentation positioned India as one of Prosus's three core ecosystem regions, highlighting the country's strategic importance to the global group. The interconnected approach aims to create synergies through cross-selling, loyalty programs, and financial services linkages among portfolio companies.
