India, June 19 -- SaaS company Capillary Technologies turned profitable in the run up to its IPO. The SaaS company posted a profit after tax (PAT) of INR 13.3 Cr in FY25 as against a loss of INR 59.4 Cr in FY24, as per its DRHP.

The company, which was founded in 2008, had been a loss-making entity for the previous three fiscal years. After reporting a net profit of INR 16.7 Cr in FY21, Capillary slipped into the red in FY22, reporting a loss of INR 22.2 Cr. Its loss increased further to INR 87.7 Cr in FY23.

Notably, this is Capillary's second attempt at public listing. In 2021, the company filed DRHP to raise INR 850 Cr from its IPO. However, it deferred its IPO plans owing to market conditions.

In January this year, Inc42 reported tha...