Navi’s FY26 losses up fourfold to Rs 466 crore on massive UPI push
Navi reported a notable increase in net losses for FY26, largely attributed to its strategic investments in UPI and new market initiatives. Despite this setback, the company projects a turnaround to profitability in FY27. UPI is recognised as a vital mechanism for attracting customers, and lending remains a core source of revenue.
Navi's net loss more than quadrupled to Rs 466 crore in the financial year 2026 (FY26) from Rs 126 crore the previous year. CEO Sachin Bansal's fintech company increased spending on the unified payments interface (UPI) and new ventures in an effort to generate revenue beyond lending. Revenue from operations climbed 16% to Rs 2,982 crore, while total income increased 15% to Rs 3,091 crore.
Navi anticipates profitability in FY27, according to Ankit Agarwal, cofounder and chief financial officer. UPI, a popular digital payments method in India, serves as Navi's customer acquisition engine and the primary source of monetization alongside lending, insurance, and investments. The fintech firm has been in discussions with Prosus and Accel Growth Fund to invest between $250-300 million, its first external financing since inception.
The fintech previously postponed its IPO plans in 2022 despite obtaining approval from the Securities and Exchange Board of India (SEBI) for a Rs 3,350 crore offering.
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