42 listed Indian startups swing to Rs 5,162 cr profit in FY25, first black ink since FY19
Cohort flips from Rs 4,595 cr FY24 loss to Rs 5,162 cr FY25 profit, with consumer-retail names Nykaa, Mamaearth, Urban Company, Lenskart and Zomato joining Paytm, Groww and Delhivery in the turnaround. Marks a structural profitability reset for India's new-economy listings.
What happened
Indian listed startups · 42 listed Indian startups collectively posted Rs 5,162 crore net profit in FY25, first time since FY19, reversing prior losses. Paytm,
Key facts
- Rs 5,162 crore FY25 profit
- Rs 4,595 crore FY24 loss
- Rs 15,216 crore FY22 loss
- Paytm Rs 6,740 crore profit
- Groww Rs 1,824 crore profit
- Delhivery Rs 162 crore profit
- Nykaa, Mamaearth, Urban Company turnarounds
Why this matters
With listed peers like Lenskart, Zomato and Delhivery now printing profits, valuation benchmarks for retail M&A and strategic stakes will reset upward—accelerate target conversations before multiples fully reprice.