Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips

Lendingkart, a fintech company, reported a revenue of Rs 1,090 crore for the financial year 2024, but saw a decline in profits. Despite the revenue growth, the company faced challenges in maintaining profitability. The decline in profits can be attributed to increased operational costs and competitive pressures in the fintech sector. Lendingkart has been focusing on expanding its lending operations and improving its technology infrastructure, which has driven up expenses. The company's performance reflects the broader trends in the fintech industry, where growth in revenue is often accompanied by challenges in sustaining profitability.