India, July 23 -- OnEMi Technologies Pvt Ltd, the parent entity of IPO-bound fintech startup Kissht, saw its net profits decline 18.3% to INR 161 Cr in the fiscal year 2024-25 (FY25), as per a report by credit rating agency Crisil Ratings.

In contrast, the startup clocked a net profit of INR 197 Cr in FY24.

The note, dated July 4 for the company's NBFC arm Si Creva Capital Services Private Limited, read that OnEMI's income declined 20.4% to INR 1,353 Cr in FY25 compared to INR 1,700 Cr in the year ago period.

The ratings agency attributed the decline in the consumer lending startup's bottom line and top line to a one-time write-off on account of the discontinuation of a "short-term loan product".

". Profitability got impacted in fisca...