Financial Performance Highlights

Q2 FY27 Results:

  • Revenue from operations: ₹44.58 crore (30% YoY growth from ₹34.28 crore in Q2 FY26)
  • Other income: ₹1.41 crore (58% YoY growth from ₹0.90 crore)
  • Profit Before Tax (PBT): ₹5.33 crore (10% YoY growth from ₹4.86 crore)
  • Profit After Tax (PAT): ₹4.26 crore (16% YoY growth from ₹3.67 crore)

H1 FY27 Results:

  • Revenue from operations: ₹67.81 crore (29% YoY growth from ₹52.49 crore in H1 FY26)
  • Other income: ₹2.63 crore (74% YoY growth from ₹1.51 crore)
  • Profit Before Tax (PBT): ₹5.91 crore (18% YoY growth from ₹5.02 crore)
  • Profit After Tax (PAT): ₹4.56 crore (19% YoY growth from ₹3.83 crore)

Sequential Performance:

  • Q2 PBT of ₹5.33 crore increased significantly from ₹0.58 crore in Q1 FY27

Regulatory Development

During Q2 FY27, the company received an expanded AD-II authorisation from the Reserve Bank of India under the Foreign Exchange Management (Authorised Persons) Regulations, 2026. This new authorisation allows GlobalPay to:

  • Undertake both trade and non-trade foreign exchange transactions
  • Appoint Forex Correspondents (FxCs) to conduct money-changing business
  • Subject to applicable RBI guidelines and terms of authorisation

Operational Initiatives

  • Card Distribution platform advanced with onboarding of 22 distribution partners
  • Development of Forex Correspondent (FxC) partnerships underway
  • Nostro accounts with Banking Circle became operational with transactions commencing in September 2026
  • Partnership agreement signed with Mastercard Move with API integration for cross-border payments

Business Segments and Market Position

The company serves customers through:

  • More than 26 branches across India
  • Network of over 900 corporates and 750 agents
  • Key business segments: student remittances, B2B distribution, corporate forex, and card businesses

Management Commentary

CEO & Whole-Time Director Srikrishna Narasimhan stated that growth was achieved despite challenging market conditions marked by foreign exchange volatility, visa uncertainty, and subdued discretionary travel. The company will focus on:

  • Deepening digital capabilities in H2 FY27
  • Expanding partner network
  • Delivering transparent, accessible global payment solutions
  • Maintaining strong compliance and risk management

Market Outlook and Strategy

The market outlook remains uneven with geopolitical uncertainty and evolving visa requirements affecting travel and overseas-education flows. The company's strategy includes:

  • Diversification beyond US student corridors
  • Expansion of corporate forex relationships
  • Scaling of the GlobalPay Card platform
  • Cost discipline and robust risk management

Company Background

WSFx Global Pay Limited is an RBI-authorised Dealer Category-II and BSE-listed company with over four decades of experience in global payments, providing forex cards, foreign exchange, and international money-transfer services.