India, July 12 -- Caught in a top-deck turmoil, fintech startup Lendingkart's NBFC arm Lendingkart Finance slipped into the red in FY25 due to a rise in impairment costs and decline in its top line.

The Ahmedabad-based NBFC incurred a net loss of INR 288.3 Cr during the year as against a net profit of INR 60.1 Cr in the previous fiscal year. Operating revenue declined 24.5% to INR 862.2 Cr in FY25 from INR 1,142 Cr in the previous fiscal year. Including other income, total revenue stood at INR 867 Cr, a decrease of 24.4% from INR 1,146.4 Cr.

It is pertinent to note that Lendingkart Finance first achieved profitability in FY23, when it reported a net profit of INR 118.8 Cr for the year. Its profit declined 97.2% YoY in FY24.

Lendingkart...