Navi’s FY26 losses up fourfold to Rs 466 crore
Navi's net loss nearly quadrupled to Rs 466 crore in the fiscal year 2026 (FY26) from Rs 126 crore in the previous year, as the company ramped up spending on unified payments interface (UPI) and new ventures to diversify revenue streams beyond lending, according to Navi cofounder and chief financial officer Ankit Agarwal. Revenue from operations grew 16% to Rs 2,982 crore, and total income rose 15% to Rs 3,091 crore.
The March quarter break-even included all costs without one-offs or cuts to investments. Navi anticipates profitability in FY27, Agarwal stated. UPI, the widely-used digital payments platform among Indians, serves as Navi's customer acquisition engine, while lending, insurance, and investments act as monetization engines. Most of Navi's lending customers utilize UPI, while unsecured loans generate the majority of profits for Navi Finserv, the group's profitable lending arm. Navi's expansion plans include a potential Rs 3,000-crore IPO by March next year.
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