Oxyzo’s FY22 Profit Surges 1.7X To INR 69 Cr, Operating Revenue Crosses INR 300 Cr Mark

B2B fintech unicorn Oxyzo, the financial arm of B2B ecommerce marketplace OfBusiness, saw its profit after tax jump 1.7X to INR 69.34 Cr in the financial year 2021-22 (FY22) from INR 39.94 Cr in the previous financial year.

Revenue from operations rose 1.6X to INR 312.97 Cr from INR 197.53 Cr in FY21, as per its filings with the Registrar of Companies (RoC). 

Launched in 2016, Oxyzo is a lending platform that provides cash flow and matched working capital financing for buying new materials for SMEs in the manufacturing and contracting sectors.

Oxyzo’s interest income, its primary source of income, stood at INR 298.38 Cr in FY22, a jump of 1.6X from INR 192.50 Cr in FY21. The unicorn earned INR 41.43 Cr as fees and commission charges in FY22 as against INR 13.39 Cr in FY21.

In all, the startup’s total income reached INR 313.24 Cr in FY22, a jump of 1.58X compared to INR 197.57 Cr in FY21.

In line with the rise in revenue, Oxyzo saw its finance costs jump 1.6X YoY to INR 142.97 Cr in FY22 from INR 90.22 Cr in the previous year. Employee benefit expenses also grew 1.5X to INR 45.78 Cr in FY22 from INR 29.95 Cr in FY21.

Overall, total expenses rose 1.5X to INR 218.13 Cr in FY22 from INR 143.75 Cr in the previous year.

The non-banking financial company’s loan book grew to INR 2,578 Cr at the end of FY22 from INR 1,384 Cr at the end of FY21. Assets under management jumped to INR 2,540 Cr as on March 31, 2022, from INR 1,357 Cr on March 31, 2021. 

Loan disbursals rose 2.1X to INR 6,730 Cr in FY22 from INR 3,211 Cr in FY21.

Oxyzo became India’s 98th unicorn in 2022 when it raised the country’s largest Series A round worth $200 Mn. Founded by OfBusiness founders Asish Mohapatra and Ruchi Kalra, Oxyzo claims to serve 5,000+ SMEs across India.

It has raised a total funding of $200 Mn to date and counts the likes of Tiger Global, Alpha Wave Global and Norwest Venture Partners among its investors.

Oxyzo’s parent OfBusiness reported a 3.6X YoY rise in its net profit to INR 201.11 Cr in FY22, while revenue from operations surged over fourfold YoY to INR 7,139 Cr.

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