IPO-Bound Kissht Sees 18% Profit Decline, Revenue Down by 20% in FY25

OnEMi Technologies Pvt Ltd, the parent entity of Mumbai-based consumer lending start-up Kissht, has reported 18% declined in net profit to ₹160 crore in the financial year 2025, according to a report published by Inc42.

Its overall revenue stood at ₹1,353 crore, marking a 20% year-on-year drop. The company attributed the slowdown to a broader slump in the consumer lending business and the shutdown of high-margin, ultra short-duration personal loans. It is pertinent mention that these loans were once a key product for digital lenders like Kissht.

However, the start-up has now pivoted to offering consumer loans with tenures longer than six months. It has also ventured into secured credit products such as loans against property, and small business loans, aiming to evolve into a full-stack digital lending platform.

“Profitability got impacted in fiscal 2025 (FY25), with profit after tax of ~INR 161 Cr and RoMA (return on managed assets) of 4.4%. The impact is largely pertaining to the one-time sizeable write-off taken by the company in the first quarter of fiscal 2025 as it discontinued (a) short-term loan product,” the statement read, as quoted by the report.

As per CRISIL note available on Si Creva, the NBF arm of Kissht shows that disbursements also dropped sharply to ₹9,776 crore in FY25, down from ₹18,527 crore the previous year.

Despite this, the company’s assets under management (AUM) rose to ₹4,129 crore from ₹2,670 crore and the loans with durations over six months now make up 99.5% of the portfolio, up from 65% in FY24.

The company’s muted performance shows the broader trend in the unsecured consumer lending sector. The report also noted that OnEMi experienced an increase in delinquencies during FY25 due to earlier write-offs and the company’s strategic shift toward promoting longer-tenure loans.

The slowdown comes at a time when the fintech start-up is preparing to public. Some media reports suggested that Kissht is eyeing a $225 million IPO. For this, it has roped in ICICI Securities, UBS Securities, and Motilal Oswal as banks to helm the IPO launch.

Last month, Kissht shareholders have passed a resolution to convert the start-up into a public entity. Since then, it has appointed Alok Bansal (PB Fintech cofounder) and Sangeeta Pendurkar (Aditya Birla Fashion and Retail CEO) as independent directors to its board.

The start-up is backed by investors like Endiya Partners and Brunei Investment Authority. So far, it has raised over $142 million funds.