OfBusiness, a B2B ecommerce startup preparing for its IPO, reported a 21% increase in consolidated profit to ₹724 crore in FY26 from ₹597 crore in FY25, according to inc42.com. The company’s operating revenue remained largely flat at ₹20,645 crore, while its EBITDA rose 34% year-on-year to ₹769 crore, with the EBITDA margin expanding to 4% from 2.6%.
The company attributed the margin improvement to deeper manufacturing integration and exiting lower-return business categories. Its commerce business generated ₹19,174 crore in revenue during the year. OfBusiness’ lending arm, Oxyzo Financial Services, ended FY26 with an asset base of ₹11,822 crore, up 28% year-on-year, and reported a net profit increase of 11% to ₹375.5 crore. CEO Asish Mohapatra highlighted the focus on generating higher operating cash flows and executing investments sharply in FY27.
OfBusiness’ financial performance comes amid a competitive B2B ecommerce and fintech landscape in India, where companies are increasingly focusing on profitability and operational efficiency ahead of public listings. The company’s growth in lending assets and improved margins position it alongside peers who are consolidating their market presence before IPOs. Oxyzo’s gross non-performing asset ratio stood at a low 0.75%, reflecting disciplined credit management.
The company’s workforce more than doubled to over 30,000 employees in FY26, underscoring its expansion efforts. Oxyzo Financial Services’ operating revenue also grew 23% to ₹1,488.8 crore. Asish Mohapatra described FY27 as a pivotal year for OfBusiness, with returns from prior investments expected to enhance shareholder value.