DiGiSPICE reports turnaround, driven by fintech expansion and Spice Money growth

DiGiSPICE Technologies Limited (DiGiSPICE) has achieved a turnaround in FY2024-25, reporting a consolidated profit after tax of ₹0.2 crores, a significant improvement from a ₹26 crore loss in FY2023-24. This positive result follows the complete exit from its legacy digital technology services (DTS) business and a sharpened focus on its material subsidiary, Spice Money Limited (SML), in the financial technology (fintech) sector.

SML's gross transaction value (GTV) grew by 7.4% to ₹116,000 crores, with revenue reaching ₹448 crores and earnings before interest and tax (EBIT) at ₹15 crores. The company's collections business saw substantial growth, with cash management services (CMS) GTV increasing by 56% and Bharat Bill Payment System (BBPS) GTV growing by 27%. These segments collectively contributed approximately ₹48,500 crores to the total GTV.

Further expanding its financial services, SML opened over 1 million bank accounts for two partner banks in FY2024-25, a significant increase from approximately 375,000 accounts in the previous year. The company's credit services facilitated over ₹250 crore in loan disbursements, demonstrating a 2.5x year-over-year growth.