India, Oct. 15 -- Ahmedabad-based fintech startup Lendingkart has recorded another profitable year with nearly 118% increase in its margins before tax from INR 19 Cr in the previous year to INR 41.9 Cr in the financial year 2020, ending in March.

According to the company's financial statement accessed by Inc42, Lendingkart has doubled its revenue to INR 464 Cr, registering a 113% growth compared to the previous financial year. In FY19, the company has noted INR 218 Cr revenue. With this, the company's expense also doubled up from INR 198 Cr to INR 422 Cr, leading to a profit of INR 29.6 Cr after tax.

Founded in 2014 by ex-banker Harshvardhan Lunia and former ISRO scientist Mukul Sachan, Lendingkart turned profitable in FY2019. In FY2018...