Lendingkart Finance Q1 Net Loss Swells 3.4x to INR 85 Crore, Revenue Falls 60% YoY

Lendingkart Finance reported a net loss of INR 85 crore in Q1, marking a 3.4 times increase from the previous year, while revenues fell by 60% year-on-year. The downturn is attributed to slowdowns in loan disbursement volumes and heightened borrowing costs amid macroeconomic pressures. The company continues restructuring efforts, focusing on optimizing operational costs and diversifying loan products to weather challenging financial markets. Lendingkart remains committed to its digital SME lending mission but faces competitive and economic headwinds affecting near-term financials. The report highlights the fintech lending sector’s volatility and strategic recalibrations in response to evolving market dynamics.