Veefin H1: Profit Doubles YoY To INR 8 Cr

Veefin Gets Board Nod To Raise INR 94 Cr

SUMMARY

Veefin Solutions net profit for the first half (H1) of FY26 zoomed 100% to INR 8.2 Cr from INR 4.1 Cr reported in the year-ago period

Operating revenue skyrocketed 5.75X to INR 110 Cr from INR 19 Cr in the first half of FY25. This also marked an 85% uptick from the INR 59.5 Cr operating revenue reported in the previous half

Meanwhile, total expenses, too, jumped 5.7X to INR 100.9 Cr, from INR 15 Cr in the year-ago period

BSE SME-listed Veefin Solutions net profit for the first half (H1) of FY26 zoomed 100% to INR 8.2 Cr from INR 4.1 Cr reported in the year-ago period. Sequentially, net profit declined about 32% from INR 12.1 Cr PAT in H2 FY25.

Operating revenue skyrocketed 5.75X to INR 110 Cr from INR 19 Cr in the first half of FY25. This also marked an 85% uptick from the INR 59.5 Cr operating revenue reported in the previous half.

Including other income of INR 1.3 Cr, total revenue stood at INR 111.3 Cr. Meanwhile, total expenses, too, jumped 5.7X to INR 100.9 Cr, from INR 15 Cr in the year-ago period.

Founded in 2020, Veefin offers supply chain financing and digital lending solutions to banks, financial institutions, fintech companies, B2B marketplaces, and enterprises. Over the past year, it has acquired stakes in digital marketing firm White Rivers Media, GenAI startup Walnut AI, and lending enablement platform EpikInDiFi, reflecting its push to expand across the fintech SaaS stack.

Notably, in October this year, the company’s board approved the merger of its two subsidiaries, GlobeTF Solutions and Estorifi Solutions, with the parent entity to consolidate operations and eliminate overlap.

The company said the move would help it leverage combined assets, reduce managerial duplication, improve governance, and enhance investor value. GlobeTF offers a transaction banking suite for banks, while Estorifi connects corporates and SMEs with banks and NBFCs for their working capital needs. .

While earlier in September, Veefin’s board also cleared a INR 94.1 Cr fundraise through a preferential allotment of equity shares and convertible warrants.

Zooming Into Veefin’s Expenses

Veefin’s total expenses soared 570% to INR 100.91 Cr in H1 FY26 compared to INR 15.06 Cr in the year ago period.

Employee Benefits Expenses: This was the biggest cost centre for the company. Veefin spent INR 43.4 Cr towards employee-related expenses during the fiscal under review, up 682% from INR 5.5 Cr in H1 FY25.

Cost Of Earning Revenue: Expenditure under this bucket soared 5,119% to INR 31.6 Cr in H1 FY26 as against INR 60.7 Lakhs during the corresponding period last fiscal.

Other Expenses: The fintech company also spent INR 14.9 Cr towards other expenses in the first half of FY26, up 110% from INR 7.1 Cr in the year ago period.

Shares of Veefin ended 0.05% higher at INR 379.95 on BSE today.