Lendingkart Finance Cuts Q1 FY27 Loss By 62% To ₹32.4 Crore
Lendingkart Finance reported a 62% reduction in its quarterly loss to ₹32.4 crore, though its operating revenue saw a 55% year-on-year decline.
Fintech firm Lendingkart Finance has reduced its net loss by 62% to ₹32.4 crore for the first quarter of fiscal year 2027 (ending June 30, 2026), compared to a loss of ₹84.8 crore in the same period last year.
The company's operating revenue, however, fell by 55% to ₹52.7 crore from ₹116.9 crore in the prior-year quarter. Total expenses decreased by 58% to ₹97.5 crore, primarily due to a significant drop in impairment of financial instruments and reduced finance costs.
Lendingkart Finance also transferred stressed loans totaling ₹94.7 crore in principal to an asset reconstruction company for ₹2 crore. This move comes after the company experienced widening losses and a pullback in loan disbursals through fiscal year 2026.
The NBFC arm of Lendingkart Technologies, founded in 2014, has been operating at a loss since FY25. The company has undergone leadership changes, with Prashant Prakash Joshi now serving as managing director and CEO.