FY25 Financial Tracker: Tracking The Financial Performance Of Indian Startups

The Indian startup ecosystem has witnessed a massive transformation in its operational ethos and strategic priorities over the past few years. The onset of the funding winter in 2022, following the funding boom of 2021, brought the biggest change.

As funding dried up, many Indian startups had to shut shop or resort to mass layoffs to extend their runway and slash cash burn. Having become accustomed to readily available capital, new-age tech companies were compelled to confront the harsh realities of unit economics and operational efficiency. 

But as they say, adversity breeds resilience. Companies quickly pivoted from their earlier mantra of “growth at all costs” to achieving profitability at the earliest. High promotional and marketing expenses, exorbitant pay hikes, and overhiring – once a common norm – were curtailed as the focus moved to bottom lines. 

These efforts to trim losses and improve operational efficiency was evident in the financial statements of Indian startups for the fiscal year 2023-24 (FY24). While just 36 of the 146 startups posted profits in FY23, the number improved to 45 (out of 112) in FY24. 

This trend is likely to continue in FY25 as well, with the number of Indian startups posting profits and cutting down losses expected to increase. 

To keep you informed on the financial health of new-age tech companies, Inc42 has launched the FY25 Financial Tracker, consolidating key numbers in one place. The tracker will be updated periodically to offer deeper insights into Indian startups’ financials.

Currently, 110 new-age tech companies are part of this tracker. They collectively posted an operating revenue of INR 2.83 Lakh Cr in FY25, marking a 20.3% uptick from INR 2.35 Lakh Cr in the previous fiscal. Of these, 50 reported a cumulative net loss of INR 24,541.8 Cr, while 60 generated a cumulative net profit of INR 13,487.2 Cr.

Editor’s Note: This list is not a ranking of any kind, we have placed the companies alphabetically. This is a running list and will be updated periodically.

Inside The FY25 Financials Of Indian Startups

Note: All amount in INR Cr

Adda247’s Loss Swells To INR 104 Cr 

Edtech startup Adda247’s net loss grew 2.5% to INR 103.6 Cr in the year ended March 2025 from INR 101 Cr in FY24. 

The startup’s operating revenue declined marginally to INR 217.10 Cr in FY25 from INR 219 Cr in the previous year. Total expenses stood at INR 343.8 Cr during the year under review as against INR 344.3 Cr a year ago. 

Read More: Adda247’s Loss Rises 2.5% To INR 104 Cr In FY25, Revenue Remains Flat

Aequs’ Loss Jumps 7X To INR 102 Cr

Bengaluru-based contract manufacturing company Aequs saw its net loss soar 618.7% to INR 102.3 Cr in FY25 from INR 14.2 Cr in the year-ago period. The surge in loss was primarily due to impairment loss on goodwill of INR 48.3 Cr for its subsidiary. 

Revenue from operations declined 4.19% to INR 924.6 Cr in the fiscal year under review from INR 965 Cr in FY24. Total expenses grew a marginal 1% to INR 851.2 Cr from INR 842.8 Cr in the previous year. 

Read More: Aequs FY25: Loss Soars 7X YoY To INR 102 Cr

AITMC Ventures’ Profit Grows 59% 

AITMC Ventures recorded a 59% rise in its net profit to INR 14 Cr in FY25 from INR 8.8 Cr in the preceding fiscal. Operating revenue jumped 87% to INR 87.5 Cr from INR 46.8 Cr in FY24. 

The startup’s total expenses rose 96.6% to INR 65.5 Cr in FY25 from INR 33.3 Cr in the previous fiscal year. 

Read More: Dronetech Startup AITMC Pre-Files DRHP For INR 200 Cr IPO

Amagi Trims Its Loss

IPO-bound media SaaS unicorn Amagi trimmed its net loss by 71.9% to INR 68.7 Cr in FY25 from INR 245 Cr in FY24 on the back of strong revenue growth and controlled rise in expenses.

Revenue from operations zoomed 32.2% to INR 1,162.6 Cr during the year from INR 879.1 Cr in FY24. 

Amagi’s total expenses for the period under review stood at INR 1,274.8 Cr, rising a mere 8.1% from INR 1,179.1 Cr in FY24. 

Read More: Amagi’s Loss Narrows 72% To INR 69 Cr In FY25

ArisInfra Turns Profitable

ArisInfra Solutions turned profitable in the year ended March 31, 2025, reporting a net profit of INR 6 Cr as against a net loss of INR 17.2 Cr in the previous year. 

The company, which went public in June 2025, saw its revenue rise 10% to INR 767.6 Cr during the year under review from INR 696.8 Cr in FY24.

Meanwhile, total expenditure grew 6% to INR 762.3 Cr from INR 719 Cr in FY24.

Read More: ArisInfra Q4: Loss Declines 97%, Revenue Up 7% YoY To INR 221 Cr

Apna’s Loss Marginally Narrows 2.3%

Professional networking unicorn Apna trimmed its consolidated loss 2% to INR 50.1 Cr in FY25 from INR 51.3 Cr in FY24. Operating revenue declined 4% to INR 122 Cr, while one-time income zoomed to INR 9.3 Cr.

Total expenses inched up 2% to INR 194 Cr from INR 191 Cr last year.

Read More: Apna Narrows FY25 Loss To INR 50 Cr Even As Revenue Dips

Ather Energy Trims Its Loss To INR 812 Cr

Listed EV major Ather Energy managed to trim its net loss by 23% to INR 812.3 Cr in FY25 from INR 1,059.7 Cr in the previous year. Its top line zoomed 29% to INR 2,255 Cr during the fiscal under review from INR 1,753.8 Cr in FY24.

Its expenses rose 16% to INR 3,117 Cr during the year under review from INR 2,674 Cr in FY24. 

Read More: Ather Q4: Loss Narrows 17% YoY To INR 234 Cr

Awfis In The Black

Delhi NCR-based coworking company Awfis, which went public last year, reported a profit of INR 68 Cr in FY25 as against a net loss of INR 17.5 Cr in FY24. Besides turning profitable, it saw its operating revenue jump 42% to INR 1,208 Cr during the year under review from INR 849 Cr in FY24.

The company’s total expenses jumped 36% to INR 1,217 Cr in FY25 from INR 892.3 Cr in the previous fiscal. 

Read More: Awfis Q4: Profit Jumps 8X YoY To INR 11.2 Cr

Bewakoof’s Loss Narrows 29%

D2C fashion brand Bewakoof saw its net loss decline 29% to INR 73.2 Cr in FY25 from INR 103.1 Cr in the previous fiscal year on improvement in margins. Operating revenue rose 8% to INR 173 Cr during the year from INR 160.9 Cr in FY24. 

Its expenses dropped 7% to INR 247.9 Cr from INR 265.2 Cr in FY24.

Read More: Bewakoof Narrows FY25 Loss By 29% To INR 73.2 Cr

BigBasket’s Loss Crosses INR 2,000 Cr Mark

Tata Digital-owned BigBasket saw its consolidated net loss surge 42% to INR 2,006.8 Cr from INR 1,415.2 Cr in the previous financial year. Despite the rapid growth in the quick commerce segment in the country, BigBasket’s operating revenue declined 2% to INR 9,866.7 from INR 10,062 Cr in FY24.

Total expenditure increased 3% to INR 11,893.6 Cr in FY25 from INR 11,515.1 Cr in the previous fiscal year.

Read More: BigBasket FY25 Loss Crosses INR 2,000 Cr, Revenue Dips

BharatPe’s Loss Declines 82%

Fintech unicorn BharatPe slashed its net loss by 82% to INR 88.2 Cr in FY25 from INR 492 Cr in FY24. Operating revenue increased almost 17% to INR 1,667 Cr during the year from INR 1,426.1 Cr in FY24. 

The fintech giant managed to trim its expenses by 3.5% to INR 1,906 Cr during the year from INR 1,974.4 Cr in FY24. 

Read More: BharatPe FY25: Loss Narrows 82% To INR 88 Cr, Revenue At INR 1,667 Cr

BlackBuck’s Loss Narrows To INR 9 Cr

Logistics company BlackBuck posted a net loss of INR 8.6 Cr in FY25 as against a net loss of INR 193.9 Cr in FY24. However, its loss would have been higher if not for a tax credit of INR 244.6 Cr in FY25. 

The company’s operating revenue jumped 43.7% to INR 426.7 Cr during the year under review from INR 296.9 Cr in FY24. The startup’s expenditure rose to INR 371.5 Cr, a 23% lower from INR 483.4 Cr a year earlier. 

Read More: BlackBuck Posts INR 280 Cr Profit In Q4 On Tax Credit

BlueStone’s Loss Widens

BlueSstone saw its net loss jump 56% to INR 221.8 Cr in FY25 from INR 142.2 Cr in the previous fiscal year, despite a strong growth in revenue. The omnichannel jewellery brand’s operating revenue zoomed 40% to INR 1,770 Cr during the fiscal year under review from INR 1,265.8 Cr in FY24. 

In line with the rise in the top line, total expenses grew 41.7% to INR 2,049.9 Cr from INR 1445.7 Cr in FY24. 

Read More: BlueStone Sees FY25 Losses Soar 56% On Offline Push

boAt Turns Profitable With INR 60 Cr PAT

Ahead of its IPO, consumer electronics startup boAt returned to profitability in FY25. It posted a net profit of INR 60.4 Cr compared to a loss of INR 73.7 Cr in FY24.

However, the Aman Gupta-led startup saw a marginal decline in its operating revenue to INR 3,073.3 Cr in FY25 from INR 3,117.7 Cr in FY24.

Its total expenses for the fiscal year declined 6% to INR 3,040.4 Cr from INR 3,233.6 Cr in FY24.

Read More: boAt Turns Profitable In FY25, Posts INR 60 Cr PAT

CarTrade Posts INR 145 Cr Profit 

CarTrade reported its highest-ever profit and revenue in FY25. Its bottom line skyrocketed 629.6% year-on-year (YoY) to INR 145.2 Cr from INR 19.9 Cr in FY24. 

Meanwhile, operating revenue jumped almost 31% to INR 641.1 Cr in FY25 from INR 489.9 Cr in the previous fiscal year.

The company’s total expenses grew over 18% to INR 542.9 Cr in FY25 from INR 457.2 Cr in the previous fiscal 

Read More: CarTrade Q4 Profit Jumps 85% YoY To INR 46 Cr

Cashfree’s Loss Widens To INR 154 Cr

Fintech soonicorn Cashfree Payments’ net loss widened 14% to INR 154.1 Cr from INR 135 Cr in FY24.

The fintech startup’s operating revenue declined marginally to INR 640 Cr in FY25 from INR 642.7 Cr in the previous fiscal year. Total expenditure rose 2% to INR 794.6 Cr in FY25 from INR 779.4 Cr in FY24.

Read More: Cashfree’s FY25 Loss Widens 14% To INR 154 Cr As Revenue Slips

Cashify’s Loss Narrows 80% To INR 11 Cr

Recommerce startup Cashify narrowed its net loss by 80% to INR 10.6 Cr in FY25 from INR 53.2 Cr in the previous fiscal year. Operating revenue increased 17% to INR 1,095.9 Cr in FY25 from INR 935.1 Cr in FY24. 

Its total expenditure grew 12% to INR 1,132.9 Cr during the year under review from INR 1,008.1 Cr in FY24.

Read More: Cashify Trims Loss By 80% To INR 11 Cr In FY25

Cleartrip’s Loss Declines 20% To INR 651 Cr

Flipkart’s travel aggregator arm Cleartrip saw its net loss decline 20% to INR 651.1 Cr in FY25 from INR 810.3 Cr in the previous fiscal year.

Operating revenue surged 70% to INR 169.2 Cr during the year under review from INR 99.7 Cr in FY24. Expense declined 10.5% to INR 885.8 Cr from INR 990.7 Cr in the previous fiscal year.

Read More: Flipkart-Owned Cleartrip Spent Over INR 5 To Earn Every Rupee In FY25

CoinDCX’s FY25 Profit Jumps 15%

Crypto unicorn CoinDCX posted a net profit of INR 1.7 Cr in FY25, up about 15% from INR 1.5 Cr in FY24. Operating revenue rose 43% to INR 559.6 Cr from INR 391.8 Cr in FY24.

Total expenses climbed 48% to INR 550.2 Cr from INR 370.9 Cr spent in FY24.

Read More: CoinDCX’s FY25 Profits Jump 15% To INR 1.7 Cr.

CoinSwitch Parent’s Loss Widens 108%

Chain Labs Pte Ltd, the Singapore-based parent of CoinSwitch, saw its net loss widen 108% to $37.6 Mn (INR 333.1 Cr) in FY25 from $18.1 Mn (INR 160.3 Cr) in FY24 despite a sharp rise in operating revenue. Revenue from operations surged 219% to $14.6 Mn (INR 129.5 Cr). 

Total expenses jumped 55% to $59.2 Mn (INR 524.9 Cr), driven by a spike in ‘other operating expenses’ to $33.6 Mn (INR 297.5 Cr).

Read More: CoinSwitch Parent’s FY25 Loss More Than Doubles To $37.6 Mn

DeHaat Turns Profitable On Non-Cash Gains 

Agritech startup DeHaat turned profitable in FY25, reporting a consolidated net profit of INR 369 Cr as against a loss of INR 1,133.1 Cr. However, the profitability came on the back of a non-cash gain of INR 576.1 Cr in FY25 due to change in fair value of CCPS as against a non-cash loss of INR 888.4 Cr under the head in the previous fiscal year. Without this gain, the startup would have posted a loss of about INR 207 Cr in FY25.

Its operating revenue saw a modest increase of 11% to INR 3,009.9 Cr during the year under review from INR 2,674.8 Cr in FY24. Despite the growth in its top line, DeHaat managed to trim its total expenditure by 30% to INR 2,676.9 Cr in FY25 from INR 3,853.4 Cr in the previous fiscal year.

Read More: DeHaat Posts INR 369 Cr Profit In FY25 On Back Of Non-Cash Gains

Delhivery Reports Maiden Profitable Year

Logistics giant Delhivery reported its maiden profitable fiscal year in FY25, posting a net profit of INR 162.1 Cr as against a net loss of INR 249.2 Cr in FY24.

Its revenue from services increased 9.7% to INR 8,932 Cr in the year under review from INR 8,141 Cr in the last fiscal. 

While the company’s EBITDA rose to INR 376 Cr in FY25 from INR 127 Cr in the previous fiscal, its EBITDA margin stood at 4.2% as against 1.6% in FY24. 

Its total expenditure stood at INR 9,216.7 Cr in FY25, up 4% from INR 8,824.9 Cr in the previous fiscal year.

 Read More: Delhivery Reports 4th Consecutive Profitable Quarter, Posts INR 73 Cr PAT In Q4

DevX’s Profit Surges 3.9X 

Coworking space provider Dev Accelerator’s (DevX) net profit zoomed 286% to INR 1.7 Cr in FY25 from INR 44 Lakh in FY24. Operating revenue rose 47% to INR 158.8 Cr during the year under review from INR 108 Cr in FY24.

Total expenses also ballooned 46.5% to INR 175.1 Cr in FY25 from INR 119.5 Cr in the previous fiscal year.

Read More: IPO-Bound DevX Sees Profit Surge 3.9X In FY25

Easebuzz’s FY25 Profit Zooms To INR 19 Cr

Payment solution startup Easebuzz posted a net profit of INR 18.8 Cr in FY25 from INR 40 Lakh PAT registered in the previous fiscal year. 

The Pune-based startup’s operating revenue for the period under review grew 127% to INR 656 Cr from INR 289.2 Cr in FY24. Easebuzz’s total expenditure in FY25 soared almost 120% to INR 634.3 Cr from INR 289.4 Cr in the previous year. 

Read More: Easebuzz’s FY25 Profit Zooms To INR 19 Cr, Revenue Surpasses INR 600 Cr

EaseMyTrip’s Revenue Remains Flat

Delhi NCR-based online travel aggregator EaseMyTrip’s top line remained almost unchanged in FY25. The startup reported an operating revenue of INR 587 Cr, a slight decline from INR 590.6 Cr in FY24. However, net profit grew 5% to INR 109 Cr from INR 103 Cr FY24. 

Total expenditure rose 16.7% to INR 460 Cr during the year under review as against INR 394 Cr in FY24. It saw its advertising as well as employee benefit expenditure increase during the fiscal under review.

Read More: EaseMyTrip Back In The Black, Posts INR 14 Cr Profit In Q4

Ekart Trims Loss By 12%

Flipkart’s logistics arm Ekart managed to narrow its net loss by 12% to INR 1,515 Cr in FY25 from INR 1,718.1 Cr in the previous fiscal year, on the back of a rise in its top line. 

Ekart’s operating revenue rose 13% to INR 13,732.9 Cr during the year under review from INR 12,115.3 Cr in FY24. Meanwhile, expenditure rose at a relatively slower pace of 11% to INR 15,673.8 Cr from INR 14,149.4 Cr in FY24.

Read More: Flipkart’s Logistics Arm Ekart Narrows FY25 Loss To INR 1,515 Cr

Eternal’s Revenue Breaches INR 20K Cr Mark

Zomato parent Eternal’s operating revenue rose over 67% to INR 20,243 Cr in FY25 from INR 12,114 Cr in the previous fiscal year, strengthened largely by its quick commerce and going out business verticals.

Its net profit jumped 50% to INR 527 Cr in FY25 from INR 351 Cr in FY24. Meanwhile, Eternal’s total expenditure rose 63% to INR 20,623 Cr in FY25 from INR 12,670 Cr in FY24. 

Read More: Eternal Q4: Profit Slumps 78% YoY To INR 39 Cr

Euler Motors’ Loss Narrows 12%

EV manufacturing startup Euler Motors trimmed its net loss by almost 12% to INR 200.2 Cr in FY25 from INR 227 Cr in the previous fiscal. Operating revenue rose 12% to INR 191.3 Cr from INR 170.8 Cr in FY24. 

Euler’s total expenses were almost flat, inching up 3% to INR 404.1 Cr from INR 392 Cr last year.

Read More: Euler Motors Trims FY25 Net Loss By 12% To INR 200 Cr

Fino Payments Bank’s Profit Up 7%

Mumbai-based Fino Payments Bank’s operating revenue jumped 25% to INR 1,847 Cr in FY25  from INR 1,478 Cr in the previous fiscal year.

In line with the rise in revenue, total expenses grew 25% to INR 1,738.7 Cr during the year from INR 1,391.5 Cr in FY24. 

The payments bank’s net profit rose 7.3% to INR 82 Cr from INR 86 Cr in FY24.

Read More: Fino Payments Bank’s Q4 Profit Dips 5% YoY To INR 24 Cr

Flipkart Internet’s Revenue Crosses INR 20K Cr Mark 

Flipkart Internet’s net loss declined 37% to INR 1,494 Cr in FY25 from INR 2,359 Cr in the previous year. Its operating revenue zoomed 14.4% to INR 20,493 Cr from INR 17,907 Cr in FY24.

The ecommerce giant’s B2C arm’s total expenses rose 8.1% to INR 22,310.7 Cr in FY25 from INR 20,627.4 Cr in the previous fiscal year. 

Read More: Flipkart’s B2C Arm Crosses INR 20,000 Cr Revenue Mark In FY25

FirstCry’s Loss Falls  By 18% 

FirstCry parent Brainbees Solutions’ net loss declined 17.6% to INR 264.8 Cr during the year ended March 2025 from INR 321.5 Cr in FY24.

Its operating revenue rose 18.2% to INR 7,659.6 Cr during the year under review from INR 6,480.9 Cr a year ago. The company’s adjusted EBITDA profit grew about 43% YoY to INR 393.5 Cr. The company also said that its India multi-channel business turned net profitable.

The company’s total expenditure stood at INR 7,429.6 Cr in FY25, up 16% from INR 6,410.3 Cr in FY24.

Read More: FirstCry Q4: Loss Zooms 158% YoY To INR 111.5 Cr

Fractal Turns Profitable In FY25

AI-powered SaaS startup Fractal swung to profitability in the financial year 2024-2025 (FY25) with a consolidated net profit of INR 220.6 Cr as against a loss of INR 54.7 Cr in the previous fiscal year.

Its operating revenue jumped 25.9% to INR 2,765.4 Cr in FY25 from INR 2,196.3 Cr in the previous fiscal.

In line with the top-line growth, total expenses for FY25 also rose 14.4% to INR 2,575.5 Cr from INR 2,250.6 Cr in FY24.

Read More: Fractal Posts INR 220 Cr Profit In FY25

Furlenco Turns Profitable In FY25

Furniture rental startup Furlenco posted a net profit of INR 3.1 Cr against a net loss of INR 130.2 Cr incurred in FY24. Its operating revenue jumped 64% to INR 228.7 Cr in FY25 from INR 139.6 Cr in the previous fiscal. The startup’s expenses fell 16% to INR 236.9 Cr in FY25 from INR 282.1 Cr a year earlier.

Read More: Furlenco Turns Profitable In FY25, Revenue Zooms 64% To INR 229 Cr

Geniemode Trims FY25 Loss By 35%

Logistics’ minicorn Geniemode managed to curb its net loss for FY25 by 35% to INR 50.7 Cr from INR 77.6 Cr in FY24. The Tiger Global-backed startup’s operating revenue rose 21% to INR 672.6 Cr for the period under review from INR 556.2 Cr in FY24. 

The cross-border logistics startup’s total expenses rose 14% to INR 730.9 Cr in FY25 from INR 641.2 Cr in FY24. 

Read More: Tiger Global-Backed Geniemode Trims FY25 Loss By 35% To INR 51 Cr

Go Digit Sees Over 130% Rise In Profit

Insurtech startup Go Digit posted strong financial results, with a 134% jump in its profit after tax to INR 424.9 Cr in FY25 from INR 181.6 Cr in the previous fiscal year.

On the back of a sharp growth in health, travel, and personal accident premiums, Go Digit’s total gross written premium (GWP) increased 14% to INR 10,282 Cr from INR 9,015 Cr in FY24.

Net earned premium rose over 13.3% to INR 8,045.9 Cr during the year from INR 7,096.4 Cr in FY24.

Read More: Go Digit Q4 Profit Zooms 120% YoY To INR 116 Cr

Groww Back In The Black 

Investment tech startup Groww turned profitable in FY25 after slipping into the red in the previous fiscal year. It posted a net profit of INR 1,824.4 Cr in FY25 from INR 805.5 Cr in the previous fiscal year. 

Operating revenue surged about 50% to INR 3,901.7 Cr in FY25 from INR 2,609.3 Cr in the previous fiscal. Its total expenses declined 22.8% to INR 1,596.4 Cr during the year under review from INR 2,068.1 Cr in FY24. 

Read More: Groww Q1: Profits Grow 12% YoY To INR 378 Cr Despite Revenue Drop

HealthKart’s Profit Crosses INR 100 Cr Mark 

Temasek-backed HealthKart saw its net profit jump over 3X to INR 120 Cr in FY25 from INR 36.7 Cr in the previous year. Operating revenue rose 30% to INR 1,312.6 Cr from INR 1,021 Cr in FY24. 

Total expenses climbed 23% to INR 1,273.4 Cr from INR 1,032.2 Cr last year.

Read More: HealthKart FY25 Profit Surges 3X YoY To INR 120 Cr

HomeLane Trims FY25 Loss By 8%

Home interior design soonicorn HomeLane managed to cut its net loss by 8% to INR 111.4 Cr in FY25 from INR 121.7 Cr in the previous fiscal year. It reported an operating revenue of INR 747.8 Cr in FY25, zooming 22% from INR 613.6 Cr in the previous fiscal year. 

The reduction in losses comes despite a 17% uptick in the startup’s total expenditure, zooming to INR 867 Cr in FY25 from INR 738.8 Cr spent in the previous fiscal year. 

Read More: HomeLane Cuts FY25 Loss By 8% To INR 111 Cr

ideaForge Slips Into Red

Mumbai-based drone startup ideaForge saw its operating revenue decline by over 48% to INR 166 Cr in FY25 from INR 317 Cr in the previous fiscal year. Consequently, it slipped into the red, with a loss of INR 51 Cr as against a profit of INR 48 Cr in FY24. 

The company’s total expenditure also declined 15% to INR 239.6 Cr during the year under review from INR 282.9 Cr in FY24. 

Read More: ideaForge Reports 3rd Consecutive Quarter Of Loss, Posts INR 26 Cr Loss In Q4

IndiaMart Posts INR 550 Cr Profit

B2B ecommerce marketplace IndiaMART’s net profit zoomed 65% to INR 550.7 Cr in the year ended March 2025 from INR 334 Cr in the previous fiscal year.

Its operating revenue grew 16% to INR 1,388.4 Cr from INR 1,196.8 Cr in FY24. The company’s EBITDA rose 58% year-on-year to INR 523 Cr in FY25.

The company’s total expenditure declined a marginal 0,5% to INR 905.9 Cr in FY25 from INR 910.7 Cr in FY24. 

Read More: IndiaMART Q4 Profit Zooms 81% YoY To INR 181 Cr

InCred Finance’s Profit Jumps 18% 

InCred Financial Services reported an 18% increase in its consolidated net profit to INR 374 Cr in FY25 from INR 316.4 Cr in the previous year. 

The lending tech unicorn’s revenue zoomed 47% to INR 1,871.9 Cr during the year under review from INR 1,269.9 Cr in FY24. Of this, it earned INR 1,691.6 Cr from interest income and INR 137.2 Cr from fees and commission. 

Total expenses surged 59% to INR 1,381.1 Cr from INR 871.4 Cr in FY24. 

Read More: InCred Finance’s FY25 Profit Zooms 18% To INR 374 Cr

IndiQube Trims Loss By 60%

IndiQube’s net loss narrowed 60% to INR 139 Cr in FY25 from INR 341 Cr in FY24. Operating revenue grew 28% to INR 1,059 Cr in FY25 from INR 830.6 Cr in the previous fiscal.

During the year, the managed workplace solutions provider’s total expenses rose marginally to INR 1,260 Cr from INR 1,252 Cr in FY24.

Read More: IndiQube’s IPO Litmus Test: Profitability Concerns In Crowded Coworking Market

Innov8’s Profit Plunges To INR 1.2 Cr

Managed workspaces provider Innov8’s profit after tax crashed 97% to INR 1.2 Cr from INR in FY25 from INR 37.7 Cr in the previous fiscal year.

The OYO-owned company’s operating revenue zoomed 117% to INR 114.5 Cr during the year from INR 52.7 Cr in the previous fiscal year. Meanwhile, total expenses more than doubled to INR 121.6 Cr in FY25 from INR 59.6 Cr in FY24. 

Read More: OYO-Owned Innov8’s Profit Plunges 97% To INR 1 Cr 

Innoviti Trims FY25 Loss By 12% To INR 62 Cr

IPO-bound fintech major Innoviti trimmed its FY25 losses by 12% to INR 62.1 Cr from INR 70.5 Cr loss incurred in the previous fiscal year. Operating revenue zoomed 35% to INR 142.6 Cr from INR 105.6 Cr in FY24.  The startup’s expenses for the fiscal rose 15% to INR 206.6 Cr from INR 179.6 Cr in FY24.

Read More: Innoviti Trims FY25 Loss By 12% To INR 62 Cr

InsuranceDekho Posts INR 48 Cr Loss 

InsuranceDekho posted a net loss of INR 47.5 Cr in FY25 as against a net profit of INR 85.7 Cr in FY24. 

The insurtech startup’s operating revenue jumped 73.5% to INR 1,290 Cr during the year under review from INR 743.6 Cr in FY24. Total expenditure rose 93.4% to INR 1,352 Cr from INR 699.2 Cr in FY24.

Read More: InsuranceDekho Slips Into The Red In FY25 Despite 73% Top Line Growth

ixigo’s Revenue Inches Closer To INR 1,000 Cr Mark

ixigo reported an operating revenue of INR 914.2 Cr in FY25, up 39.4% from INR 655.8 Cr in the previous fiscal year, boosted by strong demand from the train segment.

However, the bottom line of the company took a hit as it reported a net profit of INR 60.3 Cr, down 17.4% from INR 73 Cr profit in FY24, weighed down by high expenses.

ixigo’s total expenses for the year rose 34.8% to INR 846 Cr from INR 627.8 Cr in FY24. 

Read More: ixigo Q4: Profit More Than Doubles YoY To INR 17 Cr

Jar Narrows Loss By 51% 

Wealthtech startup Jar’s net loss narrowed over 51% to INR 50.5 Cr in FY25 from INR 104 Cr in the previous year. Operating revenue zoomed to INR 2,447.8 Cr in FY25 from INR 49 Cr in the previous fiscal year due to accounting changes.

Total expenses ballooned over 15X to INR 2,501.2 Cr in FY25 from INR 160.4 Cr in FY24.

Read More: Wealthtech Startup Jar Halves FY25 Loss To INR 50.5 Cr

Juspay Turns Profitable 

Fintech startup Juspay posted a net profit of INR 62.3 Cr in FY25 as against a loss of INR 97.5 Cr in FY24.

Operating revenue jumped 61% to INR 514.3 Cr in FY25 from INR 319.3 Cr in the previous fiscal. Meanwhile, total expenses fell 5% to INR 421.1 Cr from INR 443.7 Cr in FY24.

Read More: Juspay Turns Profitable in FY25, Posts INR 62 Cr PAT

Kissht’s Profit Dips 

Lending tech startup Kissht’s net profit slumped 18.6% to INR 160.62 Cr in FY25 from INR 197.29 Cr in the previous fiscal year. 

Its operating revenue also fell over 20% to INR 1,337.47 Cr during the year under review from INR 1,674.45 Cr in FY24. 

Moreover, in line with the top line and the bottom line, total expenses also decreased 20.7% to INR 1,136.42 Cr in FY25 from INR 1,432.86 Cr in the previous year. 

Read More: Kissht’s FY25 Profit Dips 19%, Revenue Falls 20% YoY

Kiwi’s Loss Surges 158.8% To INR 64 Cr

Fintech startup Kiwi’s net loss skyrocketed 158.8% to INR 64.2 Cr in FY25 from INR 24.8 Cr in the previous fiscal year. It posted an operating revenue stood of INR 3.8 Cr during the year under review as against INR 3.6 Cr in FY24

The Bengaluru-based startup’s expenses surged 145.2% to INR 73.8 Cr in FY25 from INR 30.1 Cr in the previous year. 

Read More: Fintech Startup Kiwi Spent INR 19 To Earn Every Rupee In FY25

LEAD School’s Loss Declines 70% 

Edtech startup LEAD School managed to reduce its net loss by 69.7% to INR 43.3 Cr in FY25 from INR 143 Cr in FY24, as its expenses fell. The startup’s total expenditure declined 20% to INR 410.7 Cr from INR 513 Cr in FY24. 

However, the fall in expenditure came on the back of flat revenue. LEAD School posted an operating revenue of INR 351.8 Cr in FY25 as against INR 350.5 Cr in the previous year.

Read More: LEAD School Trims Net Loss By 70% To INR 43 Cr in FY25

LeadSquared’s Loss Declines 45% YoY 

SaaS unicorn LeadSquared reduced its net loss by 45% to INR 89.2 Cr in FY25 from INR 162.2 Cr in the previous fiscal, supported by a decline in total expenses and an improvement in revenue. 

The startup’s operating revenue rose 14% to INR 326.2 Cr in FY25 from INR 279.2 Cr in FY24, while total expenses fell 6.5% to INR 454.6 Cr from INR 486.5 Cr a year ago.

Read More: LeadSquared’s FY25 Net Loss Declines 45% YoY To INR 89 Cr

LEAP India’s Revenue Zooms 28%, Profit Flat 

IPO-bound LEAP India’s operating revenue rose 27.8% to INR 466.4 Cr in FY25 from INR 364.9 Cr in FY24. However, its net profit remained flat at INR 37.5 Cr during the year under review as compared to INR 37.1 Cr in FY24.

Surpassing the revenue growth, total expenses rose 33.1% to INR 432.9 Cr from INR 325.2 Cr in the previous fiscal year.

Read More: LEAP India’s FY25 Profit Remains Flat Despite 28% Revenue Growth

Lendingkart Finance Slips Into Red 

Fullerton Financial Holdings (FFH)-owned lendingtech startup Lendingkart’s NBFC arm Lendingkart Finance incurred a net loss of INR 288.3 Cr in FY25 as against a net profit of INR 60.1 Cr in the previous fiscal year. The reason behind the company slipping into the red was a rise in impairment costs and decline in its top line.

The NBFC’s operating revenue crashed 24.5% to INR 862.2 Cr during the year under review from INR 1,142 Cr in FY24. Including other income, total revenue fell 24.4% to INR 867 Cr from INR 1,146.4 Cr in the previous year.

Lendingkart Finance’s total expenses soared 18.5% to INR 1,263.5 Cr from INR 1,066.1 Cr in FY24.

Read More: Lendingkart Finance Slips Into Red, Posts INR 288 Cr Loss In FY25

Lenskart Turns Profitable

Omnichannel eyewear retailer LensKart swung to profitability in the financial year ended March 2025, posting a net profit of INR 297.3 Cr as against a net loss of INR 10.1 Cr in FY24. 

Its operating revenue climbed 22.5% to INR 6,652.5 Cr during the year from INR 5,427.7 Cr in FY24. Meanwhile, total expenses rose 19.3% to INR 6,619.4 Cr from INR 5,549.5 Cr in the previous fiscal year. 

Read More: Lenskart In The Black, Posts INR 297 Cr Profit In FY25

Licious Narrows Loss By 27%

Bengaluru-based meat delivery unicorn Licious’ consolidated net loss narrowed 27% to INR 218.3 Cr in FY25 from INR 298.6 Cr in FY24.

Operating revenue rose 16% to INR 797.2 Cr during the year under review from INR 686.9 Cr in FY24. Meanwhile, the startup’s expenses inched up 1.4% to INR 1,060.2 Cr in FY25 from INR 1,045.6 Cr in the previous fiscal.

Read More: Licious Trims FY25 Loss By 27% To INR 218.3 Cr

Livspace Cuts Net Loss By 43%

Livspace trimmed its net loss by 43% to INR 242.6 Cr in FY25 from INR 461.7 Cr in the previous fiscal. The company’s Singapore entity reported revenue from continuing operations of INR 1,459.3 Cr, registering a 23% growth from INR 1,216.2 Cr in FY24.

Read More: Livspace’s FY25 Loss Declines 43% To INR 243 Cr

Mamaearth’s Profit Slumps 34%

Mamaearth parent Honasa Consumer saw its net profit decline 34.2% to INR 72.7 Cr in FY25 from INR 110.5 Cr in the previous fiscal year, hurt by weaker margins.

The company’s operating revenue grew 7.6% to INR 2,066.9 Cr in FY25 from INR 1,919.9 Cr in FY24. Its EBITDA margin declined 3.8 percentage points to 3.3% in the year under review from 7.1% in FY24.

The company’s total expenditure grew 12.8% to INR 2,056 Cr from INR 1,822.5 Cr in FY24.

Read More: Mamaearth Q4: Profit Falls 18% to INR 25 Cr

MapmyIndia’s Profit Nears INR 150 Cr Mark

Geotech company MapmyIndia’s consolidated net profit rose 10% to INR 147.6 Cr in FY25 from INR 134.4 Cr in the previous fiscal year.

Operating revenue jumped 22% to INR 463.3 Cr in FY25 from INR 379.4 Cr in FY24. During the year under review, MapmyIndia’s EBITDA rose 15% YoY to Rs 179.9 Cr and EBITDA margin stood at 39%. 

Total expenses increased 27% to INR 306 Cr as against INR 240.9 Cr in FY24. 

Read More: MapmyIndia’s Q4 Profit Zooms 28% YoY To INR 49 Cr

Meesho’s Loss Surges To INR 3,941.7 Cr

Ecommerce major Meesho’s loss surged 1,103% to INR 3,941.7 Cr in FY25 from INR 327.6 Cr in the last fiscal year, on the back of ESOP expenses and costs pertaining to reverse flipping. Its operating revenue grew 23.3% to INR 9,389.9 Cr from INR 7,615.1 Cr in FY24. 

Total expenses surged 22.5% to INR 10,009.3 Cr in FY25 from INR 8,173.7 Cr in the previous year 

Read More: From Burn To Break-Even: Meesho Shows Signs Of Turnaround

Menhood’s Revenue Surges 33%

Consumer electronics startup Menhood saw its operating revenue grow 33% to INR 23.6 Cr  in FY25 from INR 17.6 Cr in the previous fiscal year. The rise in total expenditure outpaced the revenue growth. Expenses zoomed 38% to INR 20.4 Cr during the year from 14.8 Cr in FY24.

The startup’s profit stood at INR 2.6 Cr in FY25, up 21% from INR 2.1 Cr in the previous fiscal year. 

Read More: Menhood’s H1 Profit Zooms 190% To INR 1.84 Cr

Meritto Posts Profit Of INR 1.9 Cr 

The net profit of Meritto (formerly NoPaperForms) zoomed to INR 1.9 Cr in FY25 from INR 4 Lakh in FY24. Operating revenue grew 31% to INR 92.3 Cr during the year from INR 70.4 Cr in FY24.

The Info Edge Ventures-backed startup’s total expenses rose 28% to INR 94.2 Cr in FY25 from INR 73.6 Cr in the previous fiscal year. 

Read More: IPO-Bound Meritto’s FY25 Profits Surge 50X To INR 2 Cr

MobiKwik Posts Over INR 100 Cr Loss 

Delhi NCR-based fintech company Mobikwik reported a 34% increase in its operating revenue to INR 1,164 Cr in the year ended March 31, 2025 from INR 866 Cr in the previous fiscal year. 

Despite this, the company slipped into the red during the year under review, posting a loss of INR 122 Cr as against a profit of INR 9 Cr in FY24. Total expenditure rose 50% to INR 1,271.4 Cr in FY25 from INR 848.3 Cr in the previous year.

Read More: MobiKwik Q4: Loss Surges 83.5X YoY To INR 56 Cr

Moglix’s Loss Halves

Delhi NCR-based B2B ecommerce startup Moglix cut its loss by 48% to $11.3 Mn (around INR 99.6 Cr) in FY25 from $21.7 Mn (INR 191.28 Cr) in the previous fiscal year on the back of improvement in margins and a controlled rise in expenditure.

Its operating revenue jumped 15% to $681.5 Mn (INR 6,007.25 Cr) in FY25 from $591 Mn (INR 5,209.51 Cr) in the previous year.

Total expenditure rose 12% to $704 Mn (INR 6,205.58 Cr) from $623.7 Mn (INR 5,497.75 Cr) in FY24.

Read More: Moglix FY25: Revenue Inches Closer To $700 Mn Mark, Loss Halves

Moneyview’s Profit Jumps 40%

Lending tech unicorn Moneyview reported a 40% rise in net profit to INR 240.3 Cr in FY25 from INR 171.1 Cr in FY24. Operating revenue surged 75% to INR 2,339.1 Cr in the year under review  from INR 1,342.4 Cr in FY24.

The IPO-bound unicorn’s expenses increased 73% to INR 2,059.3 Cr in FY25 from INR 1,190.9 Cr in the previous year.

Read More: Fintech Unicorn Moneyview’s FY25 Profit Surges 40% To INR 240 Cr

MasterChow’s Loss Widens 30% To INR 19.1 Cr

D2C brand MasterChow’s net loss widened 30% to INR 19.1 Cr in FY25 from INR 14.7 Cr in FY24.

Operating revenue also declined 33% to INR 25 Cr from INR 37.6 Cr in the previous fiscal due to reclassification of its financial statements to align with GAAP, which resulted in exclusion of inter-branch sales from the total revenue. Total expenses dropped 22% to INR 46.2 Cr from INR 59.3 Cr in FY24.

Read More: MasterChow’s FY25 Loss Widens 30% To INR 19.1 Cr Amid Top Line Dip

Myntra’s Profit Surges 18X To INR 548 Cr

Myntra’s net profit zoomed about 18X to INR 548 Cr in FY25 from INR 31 Cr in the previous fiscal year, driven by improvement in margins. The fashion ecommerce arm of Flipkart saw its revenue from operations rise 18% to INR 6,043 Cr during the year from INR 5,122 Cr in FY24.

Total expenditure grew 10.5% to INR 5,723.7 Cr during the period under review from INR 5,123 Cr in FY24.

Read More: Myntra’s FY25 Profit Surges 18X To INR 548 Cr

Nazara’s Profit Slips 32%

Gaming major Nazara’s net profit declined 32% to INR 51 Cr in FY25 from INR 74.8 Cr in the previous fiscal year. 

Its operating revenue rose 43% to INR 1,623.9 Cr from INR 1,138.3 Cr in FY24. EBITDA zoomed 20% YoY to INR 153.5 Cr in FY25, while EBITDA margin stood at 9.4% during the year under review. 

The company’s expenses surged 46% to INR 1,629.9 Cr in FY25 from INR 1,112.5 Cr in the previous fiscal year. 

Read More: Nazara Q4: Profit Declines 53% QoQ To INR 4 Cr

Navi Finserv’s Profit Crashes 

Sachin Bansal-led Navi Finserv’s profit after tax declined 67% to INR 221.9 Cr in FY25 from INR 668.8 Cr in the previous fiscal year. 

However, the startup’s top line growth remained robust. Navi Finserv’s operating revenue rose 19% to INR 2,271.2 Cr during the year from INR 1,906.2 Cr in FY24. 

Total expenses jumped 14% to INR 1,988.9 Cr from INR 1,750.4 Cr in FY24. 

Read More: IPO-Bound Navi Finserv’s FY25 Profit Tanks 67% To INR 222 Cr

Niyo Cuts Net Loss To INR 78 Cr IN FY25

Neobanking startup Niyo slashed its FY25 net loss by about 45% to INR 77.8 Cr from INR 143.5 Cr loss incurred in the previous fiscal year. Its top line zoomed 32% to INR 123.4 Cr in FY25 from INR 93.8 Cr in the previous fiscal.

Niyo cut its expenses by 15% in FY25 to INR 214 Cr from INR 250.7 Cr spent in the previous fiscal.

Read More: Neobanking Soonicorn Niyo Cuts FY25 Net Loss by 55% To INR 78 Cr

OkCredit Narrows Its Loss By 34%

Fintech startup OkCredit cut its FY25 loss by 34% to INR 23.2 Cr from INR 35.1 Cr in the previous fiscal year. Its operating revenue zoomed 64% to INR 23.3 Cr from INR 14.2 Cr, while expenses fell 4.7% YoY to INR 48.5 Cr on the back of lower employee and marketing costs. 

Read More: Tiger Global-Backed OkCredit Narrows FY25 Loss By 34% To INR 23 Cr

Nykaa’s Profit Zooms 82% 

Beauty ecommerce giant Nykaa’s net profit surged 82% to INR 72.1 Cr in FY25 from INR 39.7 Cr in the previous fiscal, helped by the improvement in margins. 

Operating revenue grew 25% to INR 7,949.8 Cr in FY25 from INR 6,385.62 in FY24. Its gross merchandise value (GMV) rose 25% YoY to Rs 15,604 Cr in FY25. While EBITDA increased 37% YoY to INR 474 Cr during the year under review, EBITDA margin improved to 6% from 5.4% in FY24. 

 In the year under review, Nykaa reported a 23.6% increase in its expenses to INR 7,849.63 from INR 6,346.54 in the last year.

Read More: Nykaa Q4: Profit More Than Doubles YoY To INR 19.1 Cr 

Ola Electric’s Loss Zooms 44%

EV major Ola Electric’s loss surged 44% to INR 2,276 Cr in FY25 from INR 1,584 Cr in FY24. Meanwhile, its top line shrank 10% to INR 4,514 Cr from INR 5,010 Cr in the last fiscal year. 

In FY25, Ola Electric’s consolidated EBIDTA margin stood at -34.6%.

The company slightly reduced its expenses during the year under review to INR 6,253 Cr from INR 6,277 in FY24. 

Read More: Ola Electric Q4: Loss More Than Doubles YoY To INR 870 Cr

OPEN Trims Net Loss By 35%

OPEN reported a 35% reduction in its net loss to INR 108.9 Cr in FY25 from INR 168.4 Cr in the previous year. Revenue from operations surged 85% to INR 45.9 Cr during the year under review from INR 24.8 Cr in FY24.

The neobank managed to cut its total expenses by 17.4% to INR 158.4 Cr in FY25 from INR 191.9 Cr in the previous fiscal.

Read More: Neobank OPEN Spent INR 3.5 To Earn Every Rupee In FY25

OYO’s Profit Rises To INR 244.8 Cr

Hospitality major OYO’s net profit rose 7% to INR 244.8 Cr in FY25 from INR 229.6 Cr in the previous fiscal year, driven by a deferred tax gain of INR 765.6 Cr. Its operating revenue increased 16% to INR 6,252.8 Cr in FY25 from INR 5,388.8 Cr in the previous year.

The unicorn’s total expenses, too, rose 16% to INR 6,659.5 Cr in FY254 from INR 5,725.8 Cr in the previous year.

Read More: OYO Retains Profitability In FY25 On Deferred Tax Gain, Changes Corporate Identity

Paytm’s Revenue Falls 31% 

Fintech major Paytm’s operating revenue declined a sharp 31% to INR 6,900.4 Cr in FY25 from INR 9,977.8 Cr in FY24. 

However, the company also managed to reduce its loss by 54% to INR 663.2 Cr in FY25 from INR 1,422.4 Cr in the previous year.

The company’s total expenses fell 22% to INR 9,059 Cr during the year under review from INR 11,644.6 in FY24. 

Read More: Paytm Q4 Loss Flat YoY At INR 545 Cr As Exceptional Items Take Toll

PayU’s Loss Shrinks To INR 248 Cr

PayU India trimmed its net loss by 42% to INR 248.1 Cr in FY25 from INR 429.5 Cr in FY24 on the back of strong business growth and tax credit. Its operating revenue surged 23% to INR 5,563 Cr during the year under review from INR 4,527.9 Cr in FY24.

PayU India’s total expenses during the year under review jumped 21% to INR 5,846.1 Cr from INR 4,845.2 Cr in FY24.

Read More: PayU India FY25: Loss Down 42% YoY To INR 248 Cr, Top Line Zooms 23%

PB Fintech’s Profit Jumps Over 450% 

Insurtech major Policybazaar’s parent PB Fintech saw its operating revenue jump over 45% to INR 4,977 Cr in FY25 from INR 3,437 Cr it reported in the previous year. Meanwhile, net profit surged 451% to INR 353 Cr from INR 64 Cr in FY24. 

Total expenditure stood at INR 5,038.6 Cr in FY25, up 33% from INR 3,793.1 Cr in the previous fiscal year. 

Read More: PB Fintech Q4: Profit Zooms About 3X To INR 171 Cr

PharmEasy Posts INR 1,517 Cr Loss

Online pharmacy unicorn PharmEasy narrowed its net loss by 40% to INR 1,516.8 Cr in FY25 from INR 2,522 Cr in the previous fiscal year. Its operating revenue stood at INR 5,872.1 Cr during the year under review, up 3.6% from INR 5,664.2 Cr in FY24. 

Total expenses remained almost flat at INR 7,208.5 Cr in FY25 as against INR 7,254.8 Cr last year. 

Read More: PharmEasy FY25 Loss Declines 40% To INR 1,517 Cr

PhonePe’s Revenue Crosses INR 7,000 Cr Mark 

Fintech giant PhonePe’s revenue surpassed the INR 7,000 Cr mark in FY25, zooming 40.5% to INR 7,114.8 Cr from INR 5,064.1 Cr in the previous year. Alongside, the Walmart-owned company managed to narrow its net loss by 13.5% to INR 1,727.4 Cr in FY25 from INR 1,996.1 Cr in the previous year.

Its total expenditure grew 21.2% to INR 9,394 Cr from INR 7,754.2 Cr in FY24.

Read More: PhonePe FY25: Loss Narrows 13.5% To INR 1,727 Cr, Revenue Crosses INR 7,000 Cr Mark

PhysicsWallah’s Loss Declines 78% 

IPO-bound edtech major PhysicsWallah (PW) saw its net loss fall 78% to INR 243.3 Cr in FY25 from INR 1,131.1 Cr in the previous fiscal year.

The Alakh Pandey-led company’s operating revenue surged 49% to INR 2,886.6 Cr during the year under review from INR 1,940.7 Cr in FY24. It turned EBITDA profitable in FY25, posting an EBITDA of INR 193.2 Cr as against an EBITDA loss of INR 829.4 Cr in FY24.

PW managed to cut its total expenses by a marginal 0.4% to INR 3,264.9 Cr in FY25 from INR 3,279.3 Cr in FY24 as a result of a sharp decline in its loss due to remeasurement of financial instruments at fair value.

Read More: PhysicsWallah FY25: Loss Down 78% To INR 243 Cr, Revenue Nears INR 3,000 Cr Mark

Pine Labs’ Loss Declines To INR 146 Cr 

Pine Labs posted a 57.4% decline in its net loss to INR 145.5 Cr from INR 341.9 Cr in the previous fiscal year. Revenue from operations rose 28.5% to INR 2,274.3 Cr from INR 1,769.5 Cr in FY24. 

The fintech company’s total expenditure zoomed 10.7% to INR 487.4 Cr during the year from INR 440.0 Cr in FY24. 

Read More: Pine Labs IPO To Open On Nov 7, Cuts Issue Size

Porter Turns Profitable

Logistics unicorn Porter swung to profitability in FY25, posting a consolidated net profit of INR 55.2 Cr in FY25 as against a loss of INR 95.7 Cr in the previous fiscal year. Its revenue from operations surged 58% to INR 4,306.2 Cr in FY25 from INR 2,733.7 Cr in FY24. 

The unicorn’s expenditure grew 50% to INR 4,286.3 Cr from INR 2,862.1 Cr in FY24. 

Read More: Porter Turns Profitable In FY25, Revenue Crosses INR 4,000 Cr Mark

Purple Style Labs’ Loss Jumps 295%

IPO-bound Pernia’s Pop-Up Shop parent Purple Style Labs’ loss surged more than 295% to INR 188.6 Cr in FY25 from INR 47.7 Cr in the previous fiscal year. 

The premium house of brands also saw its top line shrink 3% to INR 490 Cr from INR 504.4 Cr in FY24. Its expenses climbed to INR 559.8 Cr in FY25 from INR 557.7 Cr spent in FY24. 

Read More: Pernia’s Pop-Up Shop FY25: Loss Surges 3X YoY To INR 189 Cr

RateGain’s FY25 Profit Jumps 64%

The travel-focussed SaaS company’s profit grew 43% to INR 208.9 Cr during the year under review from INR 145.3 Cr in FY24. Operating revenue increased 12% to INR 1,077 Cr from INR 957 Cr in FY24. 

Total expenses, too, rose 9% to INR 880.8 Cr in FY25 from INR 809.7 Cr in FY24. 

Read More: RateGain Q4 Profit Zooms 10% YoY To INR 55 Cr

Rebel Foods’ Loss Declines 12%

Cloud kitchen unicorn Rebel Foods reduced its net loss by 12% to INR 336.6 Cr in FY25 from INR 380.3 Cr in FY24. Operating revenue rose 14% to INR 1,617.4 Cr in FY25 from INR 1,420.2 Cr a year ago. 

Its expenses rose 7% to INR 1,986.62 Cr in FY25 from INR 1,857.03 Cr in the previous year. 

Read More: Rebel Foods FY25: Loss Declines 11.5% To INR 337 Cr

SEDEMAC’s Profit Jumps 8X To INR 47

Deeptech startup SEDEMAC reported an 8X jump in net profit to INR 47 Cr in FY25 from INR 5.9 Cr in FY24. Its operating revenue surged 24% to INR 658.4 Cr in FY25 from INR 535.9 Cr in the previous year.

Total expenses increased 12.9% to INR 594.8 Cr in FY25 from INR 527 Cr in FY24.

Read More: A91 Partners, Xponentia-Backed SEDEMAC Files For IPO

Shadowfax Posts INR 6 Cr Profit 

Logistics company Shadowfax posted a consolidated net profit of INR 6.4 Cr in FY25 as against a loss of INR 11.8 Cr in the previous year. Its revenue from operations rose 31.8% to INR 2,485.1 Cr during the year from INR 1,884.8 Cr in FY24. 

Total expenses rose 31.4% to INR 2 508.6 Cr during the year under review from INR 1,908.4 Cr in FY24. 

Read More: IPO-Bound Shadowfax’s Profit Surges 114% To INR 21 Cr In H1 FY26

Shiprocket’s Loss Declines To INR 75 Cr 

Shiprocket saw its consolidated net loss decline 87.5% to INR 74.5 Cr in the year ended March 2025 from INR 595.2 Cr in FY24. Operating revenue grew 24% to INR 1,632 Cr in FY25 from INR 1,316 Cr in the previous fiscal year. 

Shiprocket’s total expenditure rose marginally to INR 1,749 Cr during the year under review from INR 1,709 Cr in FY24.

Read More: IPO-Bound Shiprocket’s FY25 Loss Narrows 88% To INR 74.5 Cr

Spinny’s Loss Narrows To INR 424 Cr

Used car marketplace Spinny’s net loss declined 28% to INR 423.8 Cr in FY25 from INR 590.3 Cr in the previous fiscal year, on the back of a strong uptick in its top line. The unicorn’s operating revenue jumped 25% to INR 4,656.1 Cr from INR 3,730.0 Cr in FY24. 

Total expenditure grew 17% to INR 5,170.1 Cr during the year under review from INR 4,409.5 Cr in FY24. 

Read More: Spinny Cuts FY25 Loss By 28% To INR 424 Cr On Strong Revenue Growth

Swiggy’s Loss Crosses INR 3,000 Cr Mark

Foodtech giant Swiggy, which went public last year, saw its net loss zoom 33% to INR 3,116.8 Cr in FY25 from INR 2,350.2 Cr in the previous fiscal year, on the back of quick commerce expansion.

The company’s expenses went up almost 34.3% to INR 18,725.4 Cr in FY25 from INR 13,947.4 Cr in the previous year.

However, its top line also rose 35% to INR 15,226.8 Cr during the year under review from INR 11,247.4 Cr in FY24.

Read More: Swiggy’s Q4 Loss Surges 95% YoY To INR 1,081 Cr

TAC Infosec’s Revenue Jumps 2.6X

The Mohali-based cybersecurity firm saw its operating revenue surge 2.6X to INR 30.5 Cr in FY25 from INR 11.7 Cr in the previous year. As a result, net profit jumped 2.3X to INR 14.8 Cr during the year under review from INR 6.3 Cr in FY24. 

Total expenses almost tripled to INR 16.4 Cr in FY25 from INR 5.5 Cr in the previous fiscal year. 

Read More: TAC Infosec’s H2 FY25 Profit Surges 89% YoY To INR 8.3 Cr

TBO Tek’s Profit Jumps To INR 230 Cr

B2B travel tech company TBO Tek’s net profit rose 15% to INR 229.9 Cr in FY25 from INR 200.6 Cr in FY24. 

Operating revenue increased 25% to INR 1,737.5 Cr during the year under review from INR 1392.9 Cr in FY24. The company’s expenses grew 29% to INR 1,537.4 Cr in FY25 from INR 1,187 Cr in FY24.

Read More: TBO Tek Q4: Profit Zooms 27% YoY To INR 59 Cr

Tracxn Slips Into Red

Delhi NCR–based data intelligence platform Tracxn reported an operating revenue of INR 84.4 Cr in FY25, a mere 2% increase from INR 83 Cr in the previous fiscal year. The startup slipped into the red during the year under review, reporting a loss of INR 9.5 Cr as against a profit of INR 6.5 Cr in FY24. 

Total expenses rose 7% to INR 83.7 Cr from INR 78.3 Cr in FY24. 

Read More: Tracxn Slips Into The Red In Q4, Posts INR 7.6 Cr Loss

Turtlemint Slips Into Red 

Turtlemint slipped into the loss in FY25, posting a net loss of INR 47.1 Cr as against a profit of INR 7.4 Cr in the previous year despite a strong revenue growth during the year under review. The Mumbai-based startup’s operating revenue jumped 33.6% to INR 674.5 Cr from INR 505 Cr in FY24.

Total expenditure grew at a faster pace, rising 45.7% to INR 723.6 Cr from INR 496.7 Cr in FY24. 

Read More: IPO-Bound Turtlemint Slips Into Red, Post INR 47 Cr Loss In FY25

Trust Fintech’s Profit Slides 28%

Fintech SaaS company Trust Fintech saw its standalone net profit decline 28% to nearly INR 9 Cr in FY25 from INR 12.57 Cr in the previous fiscal.

Operating revenue also fell 10.8% to INR 31.26 Cr during the year from INR 35.04 Cr in FY24.

Meanwhile, total expenses increased 26.3% to INR 23.48 Cr in FY25 from INR 18.59 Cr in the previous year.

Read More: Trust Fintech’s Profit Declines 28% To INR 9 Cr In FY25

Unicommerce Posts INR 18 Cr Profit

Ecommerce-focussed SaaS company Unicommerce’s net profit increased 34.3% to INR 17.6 Cr in FY25 from INR 13.1 Cr in FY24 on the back of strong top line growth and a rise in number of clients.

The company’s operating revenue rose 30.2% to INR 134.8 Cr in FY25 from INR 103.5 Cr in the previous fiscal year. Adjusted EBITDA increased 56% to INR 28.4 Cr in FY25 from INR 18.2 Cr in FY24.

Total expenses for the year stood at INR 116.1 Cr, up 26.3% from INR 91.9 Cr in FY24. 

Read More: Unicommerce Q4: Profit Rises 17% YoY To INR 3.4 Cr

Ultrahuman Turns Profitable 

Smart ring manufacturer Ultrahuman posted a net profit of INR 71.5 Cr in FY25 as against a loss of INR 37.7 Cr in the previous fiscal, driven by a sharp jump in top line and notable tax credit gains. 

Ultrahuman’s operating revenue grew nearly 5X to INR 564.7 Cr in FY25 from INR 104.6 Cr in FY24. Meanwhile, expenses rose 4X to INR 535.1 Cr from INR 146.4 Cr in FY24.

Read More: Ultrahuman Rings In INR 73 Cr Profit On 5X Revenue Surge

Ultraviolette’s Loss Zooms 89% To INR 116.3 Cr

EV maker Ultraviolette saw its net loss surge 89% to INR 116.3 Cr in FY25 from INR 61.6 Cr in FY24.

Operating revenue rose 114% to INR 32.3 Cr from INR 15.1 Cr in FY24. Total expenses grew 76% to INR 188.7 Cr from INR 107.4 Cr in FY24.

Read More: Ultraviolette’s FY25 Loss Magnifies 89% To INR 116 Cr Despite Healthy Top Line Growth

Urban Company Turns Profitable

Hyperlocal services unicorn Urban Company reported a net profit of INR 239.7 Cr in FY25 as against a net loss of INR 92.7 Cr in FY24. Its revenue increased 38.2% to INR 1,144.4 Cr in FY25 from INR 828 Cr in the previous fiscal year.

Total expenses zoomed 19.8% to INR 1,223.4 Cr in FY25 from INR 1,020.7 Cr in the previous fiscal year.

Read More: Urban Company Turns Profitable, Posts INR 240 Cr PAT In FY25

Veefin’s Revenue More Than Triples 

BSE SME-listed Veefin Solutions’ operating revenue surged 215% to INR 78.5 Cr in FY25 from INR 20.7 Cr in the previous fiscal year. The fintech SaaS company’s net profit jumped 119% to  INR 16.2 Cr from INR 7.3 Cr in FY24. 

Total expenditure rose to INR 59.9 Cr in FY25, up 291% from INR 15.3 Cr in the previous fiscal year. 

Read More: Veefin’s H2 FY25 Profit Jumps 94% To INR 16.35 Cr

WeWork India Posts INR 128 Cr Profit

IPO-bound WeWork India posted a net profit of INR 128.2 Cr during the year under review as against a loss of INR 135.7 Cr in the previous fiscal year due to deferred tax gains. Excluding the gains on deferred tax, the company would have continued to be in the red.

Its operating revenue rose 17% to INR 1,949.2 Cr during the year under review from INR 1,665.1 Cr in FY24. Total expenses rose 14% to INR 2,132.9 Cr from 1,869.9 Cr from FY24.

Read More: WeWork India FY25: Posts INR 128 Cr Profit On Deferred Tax Gains

WROGN’s Loss Jumps 32% 

Virat Kohli-backed D2C fashion brand WROGN’s net loss jumped 32% to INR 75.5 Cr in FY25 from INR 56.8 Cr in the previous fiscal year, despite a decline in its revenue. Its operating revenue slipped 9% to INR 223.2 Cr during the year under review from INR 245.3 Cr in FY24.

The D2C brand’s total expenses grew 2% to INR 312.6 Cr from INR 306.4 Cr in FY24.

Read More: Virat Kohli-Backed WROGN’s FY25 Loss Surges 32% To INR 76 Cr

Yatra Turns Profitable 

The online travel aggregator’s operating revenue grew 87% to INR 791 Cr in FY25 from INR 422 Cr in the previous fiscal year. It also turned profitable, posting a net profit of INR 36.5 Cr during the year under review as against a loss of INR 4.5 Cr in FY24. 

Total expenditure rose 75% to INR 788 Cr from INR 449.5 Cr in FY24. 

Read More: Yatra Q4: Profit Surges 2.7X To INR 15.2 Cr

Yubi’s FY25 Net Loss Rises 5% 

Fintech unicorn Yubi (erstwhile known as CredAvenue)’s net loss for FY25 widened about 5% to INR 416.1 Cr from INR 395.8 Cr loss incurred in the previous fiscal year. Yubi’s operating revenue zoomed 36% to INR 660.1 Cr from INR 483.7 Cr in FY24. 

The startup’s net loss rose on the back of an increase in non-cash items such as depreciation and ESOP-related expenses. Its adjusted EBITDA loss declined 55% to INR 69 Cr from INR 155 Cr loss incurred in the previous fiscal.

Read More: Yubi’s FY25 Net Loss Rises 5% To INR 416 Cr Despite 36% Revenue Uptick

Yudiz’s Revenue Takes A Hit

Blockchain and IT development company Yudiz saw its consolidated operating revenue fall 19% to INR 21 Cr in FY25 from INR 26.1 Cr in the previous fiscal. However, net loss narrowed 39.3% to INR 1.7 Cr in FY25 from INR 2.8 Cr in FY24.

Meanwhile, total expenses fell 13% to INR 27.2 Cr from INR 31.3 in FY24. 

Zaggle’s Profit Doubles 

Fintech SaaS company Zaggle reported a profit of INR 87.9 Cr in FY25, a twofold increase from INR 44 Cr in FY24. Its operating revenue soared 68% to INR 1,303.7 Cr during the year ended March 31, 2025 from INR 775.5 Cr in the last fiscal. 

Zaggle’s adjusted EBITDA grew 45.5% to INR 124.4 Cr in FY25 from INR 85.6 Cr in FY24. EBITDA margin stood at 9.6% during the year under review. 

Total expenses increased 66% to INR 1,212.1 Cr in FY25 from INR 727 Cr in FY24.

Read More: Zaggle Q4: Profit Jumps 62% YoY To INR 31 Cr

Zappfresh’s Profit Doubles To INR 9 Cr

Zappfresh’s net profit jumped 95.6% to INR 9 Cr in FY25 from INR 4.6 Cr in the previous fiscal year. The D2C meat delivery startup’s operating revenue rose 44.5% to INR 130.7 Cr during the year under review from INR 90.4 Cr in FY24.

Meanwhile, total expenditure surged 43.4% to INR 119.8 Cr in FY25 from INR 83.5 Cr in the previous fiscal.

Read More: Zappfresh FY25: Profit Zooms 94% To INR 9 Cr, Top Line Jumps 45%

Zerodha’s Profit & Revenue Decline 

Zerodha’s net profit declined 22% to INR 4,237 Cr in FY25 from INR 5,496 Cr in FY24. Its operating revenue also fell 23% to INR 8,847 Cr from INR 9,993 Cr in the previous fiscal year. 

The brokerage’s total expenses stood at INR 3,238 Cr in FY25, up 3.8% from INR 3,119 Cr in FY24.

Read More: Zerodha Mulls Ending Zero-Brokerage Model After 40% Decline In Q1 FY26 Revenue 

---

With Inputs From: Anne Florentyna & Ananya Upadhyaya

Edited By: Vinaykumar Rai

Last Updated: Oct 4, 4 PM IST