WSFX Global Pay , a leading player in the forex and outward remittances sector, has released its financial results for the first quarter of the fiscal year 2025-26, showcasing resilience in the face of seasonal headwinds and global challenges.

Financial Highlights

• Gross Turnover: INR 1,094.00 crores
• Revenue from Operations: INR 18.44 crores
• Profit Before Tax (PBT): INR 0.16 crores

Quarterly Performance Analysis

The company experienced seasonal softness in Q1, particularly affecting its leisure and student segments. This downturn was attributed to several factors:

1. Geopolitical Tensions: Ongoing conflicts, including Indo-Pak and Iran-Israel tensions, led to flight cancellations and deferred travel plans, especially impacting leisure and business travel across the Middle East and parts of Europe.

2. Visa Restrictions: Tightened U.S. visa approvals and delays in Canada and UK markets significantly impacted student travel flows, affecting forex card issuance and remittance volumes.

3. Corporate Segment Growth: Despite challenges, the corporate segment showed positive momentum, supported by increased activity and deeper digital adoption across clients.

4. Global Pay Card Business: This segment continued to grow, bolstered by strong reload volumes.

Strategic Developments

WSFx Global Pay Limited launched its Multi-Currency Card in July 2025, expanding its product portfolio and enhancing customer utility across various segments. The company serves over 100,000 customers through 21 branches, supported by 350+ forex experts.

Segment-wise Performance

Product Performance

• Outward Remittance GTO: Q1 CAGR of 48.44% (Base year: FY20-21)
• Forex Card GTO: Q1 CAGR of 94.45% (Base year: FY20-21)

Management Changes

In a separate announcement, WSFx Global Pay Limited informed that Mr. Ilamparithi J, the company's Chief Product Officer, has resigned to pursue opportunities outside the organization. His last working day will be July 31, 2025.

Future Outlook

Despite the challenges faced in Q1, WSFx Global Pay Limited remains optimistic about the upcoming quarters. The company anticipates improved performance driven by the forthcoming student intake season, festive travel, and stabilizing visa issuance processes.

WSFx Global Pay continues to focus on its digital-first approach, expanding its D2C customer base, and strengthening its distribution network. The company is committed to building innovative forex and payment-tech products to create value for all stakeholders in an asset-light, scalable, and efficient manner.

WSFX Global Pay Limited (BSE: WSFX) announced a significant change in its senior management team. Ilamparithi J, the company's Chief Product Officer, has tendered his resignation, citing personal aspirations and the desire to pursue opportunities outside the organization.

Resignation Details

According to the company's filing with the BSE, Ilamparithi J submitted his resignation on July 24, 2025. The resignation will take effect from the close of business hours on July 31, 2025, giving the company a brief transition period.

Company's Statement

In compliance with SEBI regulations, WSFX Global Pay Limited disclosed the following details:

The company has not provided any information regarding a successor for the Chief Product Officer position at this time.

About WSFX Global Pay Limited

WSFX Global Pay Limited, listed on the BSE with the scrip code 511147, is headquartered in Mumbai. The company operates in the financial services sector, with its registered office located at 6th Floor, C Wing, Corporate Avenue, Chakala, Andheri (East), Mumbai.

This management change comes at a time when many companies in the financial technology sector are experiencing shifts in their leadership teams. Stakeholders will be watching closely to see how this transition affects WSFX Global Pay's product strategy and overall business direction in the coming months.