FY26 Financial Tracker: Tracking The Financial Performance Of Indian Startups

The Indian startup ecosystem continued to mature in FY26, with 22 new-age tech companies making their public market debut as against 13 in FY25. At the same time, a growing number of startups turned profitable or moved closer to profitability after years of cost rationalisation to adjust to the new funding realities.

Despite a tough Q4 for many startups due to geopolitical uncertainties, Indian startups are expected to improve their top and bottom line numbers in FY26.

Of the 44 startups in the tracker, 33, or about 75%, reported profits in FY26. However, the profitability picture remained uneven. Together, these 33 startups generated a net profit of ₹9,346.5 Cr, while the remaining 11 posted cumulative loss of ₹14,356.5 Cr, underscoring that sustainable profitability remains a work in progress for a section of the ecosystem.

Even so, the scale of India’s startup ecosystem continued to expand. The 44 companies generated ₹2.25 Lakh Cr in operating revenue in FY26, a sharp 52% increase from ₹1.48 Lakh Cr in FY25.

To help you track the financial health of new-age tech companies, Inc42 has launched the FY26 Financial Tracker, bringing together key financial metrics in one place. The tracker will be updated periodically with the latest financial disclosures and deeper insights into the performance of India’s startup ecosystem.

So, without further ado, here’s a look at how Indian startups fared financially in FY26.

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

Inside The FY25 Financials Of Indian Startups

Note: All amount in ₹ Cr

Company Name	Operating Revenue (FY26)	Operating Revenue (FY25)	YoY Change In Operating Revenue (In %)	Loss/ Profit (FY26)	Loss/ Profit (FY25)	Loss/Profit Change In % YoY	Total Expenses (FY26)	Total Expenses FY25)	Expense Change In % YoY
Amagi Media Labs	1505.6	1162.6	29.50%	71.7	-68.7		1482.9	1274.8	16.32%
Ather Energy	3,671.80	2,255	62.83%	-517.2	-812.3	-36.33%	4,335.21	3,117.50	39.06%
ArisInfra Solutions	1,067.50	767	39.18%	60.3	6	905.00%	998.80	762.30	31.02%
Awfis	1,493.50	1,207.50	23.69%	70.9	67.9	4.42%	1,513.90	1,217.10	24.39%
Aye Finance	1,814.70	1,459.70	24.32%	193.6	171.3	13.02%	1,615.90	1,280	26.24%
BlackBuck	652	426.7	52.80%	163.7	-8.6		998.80	762.30	31.02%
BlueStone	2,436.40	1,770	37.65%	13.2	-221.8		2,467.30	2,049.90	20.36%
Capillary Technologies	748.3	598.2	25.09%	52.4	14.1	271.63%	641.7	533.3	20.33%
CarTrade	779.3	641.5	21.48%	243.5	145.3	67.58%	573.4	543	5.60%
Delhivery	10,508.30	8,931.90	17.65%	152.5	162.1	-5.92%	10,707.80	9,216.70	16.18%
EaseMyTrip	535.6	587.3	-8.80%	-47.6	108.6		572.7	460.3	24.42%
Eternal	54,364	20,243	168.56%	366	527	-30.55%	55,145	20,623	167.40%
Fractal	3,362.6	2,816.2	19.40%	286.8	220.6	30.01%	2,974.6	2,575.5	15.50%
FirstCry	8547.9	7659.6	11.60%	-203.6	-264.8	-23.11%	8285.6	7429.6	11.52%
Groww	4,645	3,901.70	19.04%	2,083	1,824.40	14.17%	1,992	1,597	24.77%
Honasa (Mamaearth)	2,391.90	2,066.90	15.72%	200.2	72.7	175.38%	2,213.30	2,056.10	7.65%
ideaForge	226.1	161.2	40.26%	-17	-62.3	72.70%	268.4	244.8	9.64%
Info Edge	3,284.7	2849.5	15.27%	1,762.8	1,309.9	34.58%	2262.5	2021.2	11.94%
ixigo	1275.3	932.2	36.81%	71.5	60.2	18.77%	1172.8	846.1	38.61%
Justdial	1213.9	1141.9	6.31%	497	584.2	-14.93%	910.4	864.3	5.33%
Lenskart	8,814	6,652.50	32.49%	500.9	297.3	68.48%	8,287.90	6,619.50	25.20%
MapmyIndia	474.1	463.2	2.35%	134	147.6	-9.21%	330.8	306.1	8.07%
Meesho	12,626.30	9,389.90	34.47%	-1,357.70	-3,942	-65.56%	14,167.20	10,009.30	41.54%
MobiKwik	1,119.20	1,170.20	-4.36%	-62.1	-121.5	-48.89%	1,159.40	1,271.90	-8.85%
Nazara Tech	1829	1623.9	12.63%	81.9	51	60.59%	1833	1629.9	12.46%
Nykaa	10,022.30	7,949.82	26.07%	203.9	72.1	182.80%	9707.5	7850	23.66%
Ola Electric	2,253	4,514	-50.09%	-1,833	-2,276	-19.46%	3,245	6,253	-48.10%
Paytm	8,437	6,900	22.28%	552	-663		8,521	9,096	-6.32%
PB Fintech (Policybazaar)	6,794	4,977	36.50%	670	352.2	90.26%	6,458	5,040	28.14%
Physics Wallah	3,899.50	2,886.60	35.09%	-24.17	-243.26	-90.06%	4,068.80	3,264.80	24.63%
Pine Labs	2710.6	2274.3	19.18%	112.5	-145.5		2,706.40	2,426.90	11.52%
Nazara Tech	1829	1623.9	12.63%	81.9	51	60.59%	1833	1629.9	12.46%
SEDEMAC Mechatronics	1,058.4	658.4	60.75%	103.6	47.1	119.96%	913.5	594.8	53.58%
Shadowfax	4,202.40	2,485.10	69.10%	111.7	6.4	1645.31%	4,127.90	2,509	64.52%
Swiggy	23,053	15,227	51.40%	-4,154	-3,117	33.27%	27,701	18,725	47.94%
TAC Infosec	57.3	30.5	87.87%	26.3	14.8	77.70%	29.3	16.4	78.66%
Unicommerce	204.3	134.8	51.56%	20.5	17.6	16.48%	179.6	116.1	54.69%
Urban Company	1,556	1,144	36.01%	-235	240		1,835.70	1,223.50	50.04%
Wakefit	1,488.90	1,273.70	16.90%	189.2	-35		1,440	1,340.40	7.39%
WeWork India	2,440.10	1,949.20	25.18%	74.9	128.2	-41.58%	2,435.30	2132.9	14.18%
Yatra	1,006.50	791.4	27.18%	46.8	36.6	27.87%	979.8	788.1	24.32%
Zaggle	1,852.8	1,302.60	42.24%	132.8	87.5	51.77%	1,712.1	1,209.7	41.53%
Zappfresh	220.8	130.7	68.94%	14.4	90.3	-84.05%	198.8	119.8	65.94%
Zepto	22,623.60	11,109.90	103.63%	-5,905.20	-4,699.70	25.65%	29,026.70	16,241.10	78.72%

Amagi Turns Profitable

Media SaaS company Amagi recorded a net profit of ₹71.7 Cr in FY26 as against a loss of ₹68.7 Cr in the previous year. Operating revenue grew 29.5% to ₹1,505.6 Cr from ₹1,162.6 Cr in FY25.

Its total expenses jumped 16.3% during the period under review to ₹1,482.9 Cr from ₹1,274.8 Cr in the previous year. Meanwhile, employee benefit expenses rose 11.8% YoY to ₹777.2 Cr from ₹694.8 Cr earlier.

Ather Energy Trims Loss To ₹517 Cr

EV major Ather Energy managed to trim its net loss by 36% to ₹517.2 Cr in FY26 from ₹812.3 Cr in the previous fiscal year. Operating revenue rose 62.8% to ₹3,671.8 Cr from ₹2,255 Cr in FY25.

Its expenses rose 53.7% during the period under review to ₹2,808.1 Cr from ₹1,826.88 Cr in FY25, around a quarter of which went towards employee benefits. The company reported a drag on its production line due to China’s export ban on rare earth magnets, which led to lower revenue recognition during the year.

Awfis Sees Marginal Uptick In Profit

Coworking space provider Awfis’ net profit rose 4.3% YoY to ₹70.8 Cr during the year under review from ₹67.9 Cr in FY25. Operating revenue for the full fiscal jumped around 24% to ₹1,493.5 Cr from ₹1,207.5 Cr reported in the previous year.

Total expenses rose 24.4% YoY to ₹1,514 Cr from ₹1,217.1 Cr in FY25.

ArisInfra’s Profit Jumps 10X

B2B ecommerce company ArisInfra Solutions saw its net profit grow over 10X in FY26 to ₹60.3 Cr from ₹6 Cr in FY25. Operating revenue grew 39.9% to ₹1,067.5 Cr from ₹767 Cr in the previous year.

Its expenses rose 31% to ₹998.8 Cr in FY26 from ₹762 Cr in FY25. Employee costs stood at ₹494.7 Cr during the year under review.

Aye Finance Posts 13% Rise In Profit

Aye Finance reported a net profit of ₹193.6 Cr in FY26, a 13% increase compared to ₹171.3 Cr in FY25. Operating revenue grew 24.3% to ₹1,814.7 Cr during the period under review from ₹1,459.7 Cr in FY25.

Total expenses grew at a marginally higher pace than the revenue, rising 26.2% to ₹1,615.9 Cr in the fiscal year from ₹1,280 Cr. Employee expenses rose 43.8% YoY during the period to ₹1,784.6 Cr.

BlackBuck In The Black

Logistics company BlackBuck reported a net profit of ₹163.7 Cr in FY26 as against a net loss of ₹8.6 Cr in the previous year. Its operating revenue surged 52% to ₹652 Cr from ₹426.7 Cr in FY25.

Total expenses grew 31% to ₹998.8 Cr during the year from ₹147 Cr in FY25, while employee expenses grew 8.9% to ₹160 Cr.

BlueStone Reports First Profitable Year

Omnichannel jewellery brand BlueStone reported its first full year of profitability in FY26, posting a net profit ₹13.2 Cr as against a net loss of ₹221.8 Cr in the previous year.

The company’s operating revenue grew 37.6% to ₹2,436.4 Cr from ₹1,770 Cr in FY25. Its expenses during the fiscal rose 20% YoY to ₹2,467.3 Cr, while employee benefit costs jumped almost 40% to ₹282.4 Cr.

Capillary Technologies’ Profit Crosses ₹50 Cr Mark

SaaS major Capillary Technologies’ net profit skyrocketed 271% to ₹52.4 Cr in FY26 from ₹14.1 Cr in the previous fiscal year. Operating revenue grew 25.1% to ₹748.3 Cr from ₹598.2 Cr in FY25.

Total expenses during the year stood at ₹641.7 Cr, up 20.3% from ₹533.3 Cr in FY25.

CarTrade’s Profit Zooms 68%

Auto classifieds platform CarTrade’s profit surged 67.6% to ₹243.5 Cr in FY26 from ₹145.3 Cr in the previous fiscal year. Operating revenue increased 21.5% to ₹779.3 Cr during the year under review from ₹641.5 Cr in FY25.

Meanwhile, total expenses rose a mere 5.6% YoY to ₹573.4 Cr during the year under review. EBITDA improved 70% to ₹257 Cr.

Delhivery’s Profit Declines 6%

Logistics major Delhivery’s net profit contracted nearly 6% to ₹152.5 Cr from ₹162.1 Cr in FY25. The decline in the bottom line came despite a 17.6% jump in its operating revenue to ₹10,508.3 Cr from ₹8,932 Cr in FY25.

Total expenses during the year stood at ₹10,707.8 Cr, up 16.2% from ₹9,216.7 Cr in FY25.

EaseMyTrip Slips Into The Red

Online travel aggregator EaseMyTrip posted a net loss of ₹47.5 Cr in FY26 as against a profit of ₹108.6 Cr in the previous fiscal year. Revenue from operations also declined 8.8% to ₹535.7 Cr from ₹587.3 Cr in FY25.

The company’s EBITDA tanked more than 85.8% YoY to ₹22.9 Cr in FY26, while EBITDA margin shrank to 4% from 26.7% in FY25. Its expenses during the year stood at ₹572.7 Cr, up 24% YoY.

Eternal’s Profit Declines 31%

Zomato parent Eternal’s net profit declined 31% to ₹366 Cr in FY26 from ₹527 Cr in the previous year, as the company continued its investment in quick commerce platform Blinkit.

Its operating revenue jumped over 168.6% to ₹54,364 Cr from ₹20,243 Cr in FY25, driven largely by growth in Blinkit and its transition to an inventory-led model. Total expenses grew 167.4% to ₹55,145 Cr during the year under review from ₹20,623 Cr in FY25.

FirstCry’s Loss Narrows 23%

Omnichannel kidswear brand FirstCry managed to trim its net loss to ₹203 Cr in FY26, down 23.1% from ₹264.8 Cr reported in the previous year. Its operating revenue grew 11.6% to ₹8,547.9 Cr from ₹7,659.6 Cr in FY25.

Total expenses grew in tandem with the revenue, rising 11.5% to ₹8,285.6 Cr from ₹7,429.6 Cr in FY25.

Fractal’s Profit Zooms 30%

AI and analytics company Fractal reported a 30% rise in its net profit to ₹286.8 Cr in FY26 from ₹220.6 Cr in the previous fiscal year. Operating revenue grew 19.4% to ₹3,362.6 Cr from ₹2,816.2 Cr in FY25.

Total expenses during the fiscal year stood at ₹2,974.6 Cr, up 15.5% from ₹2,575.5 Cr in FY25. Notably, employee expenses accounted for 77% of the total expenditure during the year at ₹2,291.4 Cr.

Groww’s Profit Crosses ₹2,000 Cr Mark

Discount broker Groww’s net profit surged 14% to ₹2,083 Cr in FY26 from ₹1,824.4 Cr in the previous fiscal year. Operating revenue for the year grew 19% to ₹4,644.6 Cr from ₹3,901.7 Cr in FY25.

Total expenses in FY26 stood at ₹1,992 Cr, up nearly 25% from ₹1,597 Cr in the previous year. Meanwhile, employee benefit expenses grew 87.4% YoY to ₹590.8 Cr during the period under review.

Honasa’s Profit Surpasses ₹200 Cr Mark

Mamaearth parent Honasa Consumer recorded a net profit of ₹200.2 Cr in FY26, up 175.4% from ₹72.7 Cr in the previous fiscal year. Operating revenue grew 15.7% to ₹2,391.9 Cr from ₹2,066.9 Cr in FY25.

EBITDA skyrocketed 237% to ₹231 Cr from ₹69 Cr in FY25, while total expenses declined almost 2% YoY to ₹2,213 Cr. The beauty and personal care company credited its younger brands like The Derma Co., Aqualogica, Dr Sheth’s, BBlunt, Staze and Reginald Men for the growth momentum.

ideaForge’s Loss Narrows Over 70% YoY

Dronetech company IdeaForge managed to trim its net loss by 72.1% in FY26 to ₹17 Cr from ₹62.3 Cr reported in the year-ago period. Its operating revenue jumped over 40% to ₹226.1 Cr from ₹161.2 Cr in FY25.

Total expenses rose a marginal 9.6% to ₹268.4 Cr from ₹244.8 Cr in the previous fiscal year.

Info Edge’s Profit Zooms Past ₹1,700 Cr Mark

Consumer internet services company Info Edge reported a consolidated net profit of ₹1,762.8 Cr in FY26, a 34.6% increase from ₹1,309.9 Cr in the previous fiscal year. Its revenue surged 15.3% to ₹3,284.7 Cr from ₹2,849.5 Cr in FY25.

The company reported an almost 12% jump in its expenses during the period to ₹2,262.5 Cr from ₹2,021.2 Cr in FY25. Employee expenses grew 8.6% YoY to ₹1,341.5 Cr in FY26.

ixigo’s Revenue Crosses ₹1,000 Cr Mark

Traveltech company ixigo posted a net profit of ₹71.5 Cr in FY26, up 18.7% from ₹60.2 Cr in the previous year. Its operating revenue zoomed 36.8% to ₹1,275.3 Cr from ₹932.2 Cr in FY25.

Total expenses rose 38.6% to ₹1,172.8 Cr from ₹846.1 Cr in the previous year. ixigo said its monthly active users (MAUs) crossed the 544 Mn mark in FY26, while monthly transacting users (MTUs) rose to 5.7 Mn.

Justdial’s Profit Dips 15% YoY

Digital classifieds platform Justdial’s net profit slipped almost 15% in FY26 to ₹497 Cr from to ₹584.2 Cr in the previous year. Operating revenue rose 6.3% to ₹1,213.9 Cr from ₹1,141.9 Cr in FY25.

Justdial incurred expenses worth ₹910.4 Cr during the year, up 5.33% from ₹864.3 Cr in FY25. EBITDA improved 6.6% YoY to ₹ 357.5 Cr, while EBITDA margin shot up 8 basis points YoY to 29.5%.

Lenskart’s Profit Crosses ₹500 Cr Mark

Eyewear giant Lenskart’s net profit jumped 69% to ₹500.9 Cr in FY26 from ₹297.3 Cr in the previous year. Operating revenue rose 33% to ₹8,814 Cr during the year under review from ₹6,652.5 Cr in FY25, driven by strong operating leverage, premiumisation, and international growth.

Total expenses increased 25.2% to ₹8,288 Cr from ₹6,619.5 Cr in FY25. Employee costs, which made up more than a quarter of the company’s total expenses, jumped 48% YoY to ₹2,043.5 Cr.

MapmyIndia’s Profit Declines Over 9% YoY

Geotech company MapmyIndia’s net profit went down 9.2% to ₹134 Cr in FY26 from ₹147.6 Cr in FY25. Operating revenue during the year under review rose a marginal 2.3% to ₹474.1 Cr from ₹463.2 Cr in the previous year.

Total expenses rose 8.1% to ₹330.8 Cr in FY26 from ₹306.1 Cr in FY25.

Meesho’s Loss Narrows 66%

Ecommerce giant Meesho managed to trim its net loss by 65.6% to ₹1,357.7 Cr in FY26 from ₹3,942 Cr in the previous fiscal year. Operating revenue rose 35% to ₹12,626 Cr from ₹9,390 Cr in FY25.

Total expenses jumped 41.5% YoY to ₹14,167 in FY26, even as employee benefit costs rose only 7.5% to ₹912 Cr.

The adjusted EBITDA loss of the company’s marketplace vertical soared 906% to ₹1,178 Cr from to ₹117 Cr in FY25. According to Meesho, this was due to consolidation in the third-party logistics space, high customer acquisition costs and its aggressive AI push driving up expenses.

Mobikwik Halves Net Loss To ₹62 Cr

Fintech company Mobikwik reported a 48.9% reduction in its net loss to ₹61.9 Cr in FY26 from ₹121 Cr in the previous fiscal year. This was despite its revenue from operations declining 4.4% to ₹1,119.2 Cr from ₹1,170.2 Cr in FY25.

EBITDA loss for FY26 declined to ₹5.2 Cr from ₹79.4 Cr in FY25. Meanwhile, total expenses fell 8.8% YoY to ₹1,159.4 Cr. The company is betting on merchant payments as a new growth vertical and is targeting a 10X increase in revenue from the business by FY28.

Nazara’s Profit Zooms Over 60%

Gaming major Nazara Technologies’ net profit jumped 60.6% YoY in FY26 to ₹82 Cr from ₹51 Cr in the previous year. Its top line grew 12.6% during the period under review to ₹1,829 Cr from ₹1,624 Cr in FY25.

Total expenses grew at a similar rate as revenue, rising 12.5% to ₹1,833 Cr from ₹1,630 Cr in the previous year. Advertising expenses during the year increased 22.4% to ₹461 Cr.

Nykaa’s Revenue Crosses ₹10,000 Cr Mark

Beauty and personal care major Nykaa’s operating revenue grew 26% to ₹10,022 Cr in FY26 from ₹7,949.8 Cr reported in the year-ago period. Total expenses grew 23.7% YoY to ₹9707.5 Cr.

As a result, the Falguni Nayar-led company’s net profit zoomed 182.8% to ₹203.9 Cr from ₹72.1 Cr in FY25, driven by offline expansion, launch of over 200 new beauty brands and more than 1,200 brands for its fashion vertical.

Ola Electric’s Loss Narrows 20%

EV major Ola Electric trimmed its net loss by 19.5% to ₹1,833 Cr from ₹2,276 Cr reported in FY25.

This was despite a 50% reduction in its operating revenue to ₹2,253 Cr in FY26 from ₹4,514 Cr in the previous year on the back of a slowdown in customer demand for its escooters amid complaints about after-sales services.

The OEM trimmed its total expenses by 48% to ₹3,245 Cr in FY26, while employee benefit costs declined 36.5% YoY.

Paytm Posts First Full Profitable Year

Fintech major Paytm reported a net profit of ₹552 Cr in FY26 as against a net loss of ₹663 Cr in the previous year. Its operating revenue in FY26 jumped 22.3% to ₹8,437 Cr from ₹6,900 Cr in FY25.

EBITDA stood at ₹502 Cr during the fiscal under review as against an EBITDA loss of ₹1,506 Cr in FY25. Total expenses during the year declined over 6% to ₹8,521 Cr ₹9,096 Cr in FY25, while employee benefit costs contracted over 15% YoY to ₹2,765 Cr.

PB Fintech’s Profit Almost Doubles To ₹670 Cr

Policybazaar parent PB Fintech’s net profit zoomed over 90% to ₹670 Cr in FY26 from ₹352 Cr in the previous year, with PAT margin expanding to 10% from 6%.

Its operating revenue during the fiscal year stood at ₹6,794 Cr, up 36.5% from ₹4,977 Cr in FY25. Meanwhile, total expenses rose over 28% YoY to ₹6,458 Cr.

PhysicsWallah Narrows Net Loss by 90%

Edtech major PhysicsWallah trimmed its net loss by 90% to ₹24.2 Cr from ₹243.3 Cr in FY25. Operating revenue jumped 35% YoY to ₹3,899.5 Cr from ₹2,886.6 Cr, with a 31% increase in revenue generated from offline business. The offline business now accounts for 45% of the top line. Uptake in courses beyond JEE and NEET also drove revenue growth during the fiscal.

In FY26, PhysicaWallah’s total expenses grew 24.6% to ₹4,068.8 Cr. Employee costs accounted for about half of the total expenses, rising 36% YoY to ₹1,906 Cr.

Pine Labs Posts ₹113 Cr Profit

Fintech major Pine Labs turned profitable in FY26, posting a net profit of ₹112.5 Cr as against a loss of ₹145.5 Cr in FY25. Its revenue grew 19% to ₹2,710.6 Cr from ₹2,274.3 Cr in FY25.

Meanwhile, total expenses increased 11% to ₹2,706.4 Cr from ₹2,426.9 Cr in FY25. The company’s growth in FY26 was driven by the execution of multiple landmark contracts and international expansion.

RateGain’s Profit Narrows 30% YoY

Travel-focused SaaS company RateGain’s consolidated net profit slipped 30.2% in FY26 to ₹50.3 Cr from ₹72.1 Cr in the previous year. Operating revenue rose 18.2% to ₹248.8 Cr from ₹210.4 Cr in FY25.

RateGain’s expenses stood at ₹220.3 Cr during the year, up 21.2% from ₹181.8 Cr in FY25. Employee benefit expenses increased 23.6% to ₹176.8 Cr from ₹143 Cr in FY25.

SEDEMAC’s Profit Doubles To Cross ₹100 Cr

Deeptech company SEDEMAC Mechatronics’ net profit more than doubled in FY26 to ₹103.6 Cr from ₹47.1 Cr in the previous year. Operating revenue jumped 60.7% YoY to ₹1,058.4 Cr from ₹658.4 Cr in FY25.

Total expenses also increased 53.6% to ₹913.5 Cr during the year under review from ₹594.8 Cr in FY25.

Shadowfax’s Profit Skyrockets 19X

Logistics firm Shadowfax’s net profit surged to ₹115.2 Cr from ₹6.2 Cr in FY25, an uptick of 1,758% YoY. Its adjusted EBITDA for the year stood at ₹159 Cr with a margin of 3.8%.

The company’s operating revenue zoomed 65.4% to ₹4,080.3 Cr from ₹2,467.2 Cr in FY25.

The growth was largely driven by increase in customer order volume, especially in the hyperlocal and express segments, focus on premium offerings, and expansion across pincodes.

Total expenses grew over 60% YoY to ₹4,001.8 Cr in FY26, while employee benefit costs jumped 37.7% to ₹357.4 Cr.

Swiggy’s Loss Crosses ₹4,000 Cr Mark

Food delivery major Swiggy’s net loss jumped 33% to ₹4,154 Cr in FY26 from ₹3,117 Cr in the previous year. Operating revenue rose 51% to ₹23,053 Cr from ₹15,227 Cr in FY25.

Meanwhile, total expenses grew 48% YoY to ₹27,701 Cr, driven largely by the expansion of its quick commerce arm Instamart, which lost significant market share over the year.

TAC Infosec’s Profit Zooms 79%

Cybersecurity firm TAC Infosec saw its net profit jump 78.7% in FY26 to ₹26.3 Cr from ₹14.8 Cr in FY25, driven by growth in its core operations. Operating revenue zoomed 87.9% in FY26 to ₹57.3 Cr from ₹30.5 Cr in the previous year.

Its expenses in FY26 jumped 78.6% to ₹29.3 Cr from ₹16.4 Cr in FY25. Employee benefit expenses jumped 47% during the year to ₹12.5 Cr from ₹8.5 Cr.

Unicommerce’s Profit Crosses ₹20 Cr Mark

Ecommerce-focused SaaS company Unicommerce reported a 16.5% rise in its net profit to ₹20.5 Cr in FY26 from ₹17.6 Cr in the previous year. Operating revenue jumped 51.5% during the year to ₹204.3 Cr from ₹134.8 Cr in FY25.

The SaaS firm incurred ₹179.6 Cr in expenses in FY26, up almost 55% from ₹116.1 Cr reported in the previous year.

Urban Company Slips Into The Red

Home services unicorn Urban Company slipped into the red in FY26, posting a net loss of ₹234.8 Cr AS against a net profit of ₹239.8 Cr in previous year. Its operating revenue grew 35.9% to ₹1,555.5 Cr from ₹1,144.5 Cr in FY25.

Total expenses during the fiscal year jumped over 50% YoY to ₹1,835.7 Cr, as it poured cash into its newest offering ‘Insta Help’ offering. The cash burn in the new vertical is expected to remain elevated in the coming quarters amid intense competition.

Wakefit Posts ₹189 Cr Profit

Mattress brand Wakefit reported a net profit of ₹189.2 Cr in FY26 as against a net loss of ₹35 Cr in the previous year. Its operating revenue for the fiscal rose 17% to ₹1,488.9 Cr from ₹1273.7 Cr in FY25.

Total expenses rose 7.6% YoY to ₹1,307 Cr, while employee benefit costs remained almost flat at ₹166 Cr.

WeWork India Profit Declines 41% YoY

Coworking space provider WeWork India reported a net profit of ₹74.9 Cr during the year under review, down 41.6% from ₹128.2 Cr in FY25. Operating revenue during the fiscal year rose 25% to ₹2,440 Cr from ₹1,949 Cr in FY26. Free cash flow from operations rose 44.3% YoY to ₹585.5 Cr during FY26.

Meanwhile, total expenses grew 14.2% YoY to ₹2,435.3 Cr, while employee benefit costs jumped 28% to ₹198.5 Cr.

Desk sales in FY26 jumped 19.8% YoY to a record 48,000, translating into 3.3 Mn sq ft of leasing activity. The company claimed to have opened FY27 with ₹1,885 Cr of locked-in core revenue, up 38.1% from the start of FY26.

Yatra’s Profit Rises 28%

Online travel aggregator Yatra’s net profit jumped nearly 28% to ₹46.8 Cr from ₹36.6 Cr in FY25. Revenue from operations rose 27.2% to ₹1,006.5 Cr from ₹791.4 Cr in FY25.

Total expenses grew 24.3% to ₹979.8 Cr in FY26 from ₹788 Cr in the previous year.

Zaggle’s Profit Crosses ₹100 Cr Mark

Fintech SaaS company Zaggle reported a 51.8% jump in its net profit to ₹132.8 Cr in FY26 from ₹87.5 Cr in the previous year. Its revenue grew 42.2% to ₹1,852.8 Cr from ₹1,302.6 Cr in FY25.

Meanwhile, expenses jumped 41.5% to ₹1,712 Cr from ₹1,209.7 Cr in FY25. Notably, its employee expenses grew a marginal 3.3% in FY26 to ₹67.8 Cr.

Zappfresh’s Profit Surges 59%

Online meat delivery company Zappfresh saw its consolidated net profit for FY26 surge 59% to ₹14.3 Cr from ₹9 Cr in the previous year. Operating revenue zoomed 69% to ₹220.8 Cr in FY26 from ₹130.7 Cr in FY25.

Its expenses during the period jumped 65.9% to ₹198.8 Cr from ₹119.8 Cr reported in FY25. The online marketplace’s EBITDA zoomed 91% YoY to ₹31.1 Cr in FY26, while EBITDA margin improved 160 basis points YoY to 14.1%.

Zepto’s Loss Jumps 25.6% To ₹5,905 Cr

Quick commerce major Zepto more than doubled its operating revenue in FY26 to ₹22,623.6 Cr from ₹11,109.9 Cr in the previous year. Despite the revenue uptick, its net loss widened 25.6% to ₹5,905 Cr from ₹4,699.7 Cr in FY25.

Total expenses grew 78.7% during the fiscal year to ₹29,026.7 Cr from ₹16,241.1 Cr in the previous year. Zepto saw a 43.8% YoY uptick in its employee expenses to ₹1,784.6 Cr.

The post FY26 Financial Tracker: Tracking The Financial Performance Of Indian Startups appeared first on Inc42 Media.

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FY26 Financial Tracker: Tracking The Financial Performance Of Indian Startups

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Note: All amount in ₹ Cr

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