Navi, the fintech startup preparing for an IPO, reported a net loss of ₹465.99 crore for FY26, a 268.7% increase from ₹126.4 crore in the previous fiscal year, according to inc42.com. This loss expansion occurred despite a 16.2% rise in operating revenue to ₹2,981.7 crore. Including other income of ₹108.9 crore, Navi’s total income reached ₹3,090.6 crore for the year.
The company’s total expenses exceeded ₹3,500 crore in FY26, while tax expenses dropped by half to ₹42.2 crore. Navi achieved profit before tax (PBT) breakeven in Q4 FY26 and recorded a PBT of ₹104 crore in Q1 FY27. Operationally, the lending book grew 57.2% year-on-year to ₹13,138 crore, and monthly transacting users more than doubled to 2.9 crore. Loan disbursements increased 73% to ₹23,332 crore, with assets under management at ₹19,740 crore.
Navi’s gross and net non-performing asset (NPA) ratios improved, falling to 1.25% and 0.16% respectively. The startup holds a 3.5% market share in India’s UPI ecosystem, processing about 80 crore transactions monthly, making it the country’s fourth largest UPI player. CareEdge Ratings upgraded Navi’s credit rating to CARE A+, citing its experienced promoter Sachin Bansal, scalable technology-driven model, and integrated financial services platform supported by adequate capitalization.
Navi’s improving quarterly profitability and operational metrics position it strongly ahead of its planned IPO. The company’s PBT of ₹104 crore in Q1 FY27 marks a significant turnaround from previous losses, highlighting its potential for sustainable growth in India’s competitive fintech sector.