Sachin Bansal’s digital lending startup Navi posted its financial reports for Q1 FY24
Navi saw a 124% YOY growth in revenue from operations from Rs 184.2 crore in Q1 FY23 to Rs 438.7 crore in Q1 FY24.
Other income for Navi dropped from Rs 35.5 crore in Q1 FY23 to Rs 1.5 crore in Q1 FY24.
Navi posted a net profit of Rs 262 crore in Q1 FY24, slightly higher than the Q1 of the previous fiscal year but lower than the previous quarter that ended in March 2023.
Navi’s expenses doubled from Rs 200 crore in Q1 FY23 to Rs 405 crore in Q1 FY24