Latest news with #Oxyzo
Economic Times
5 days ago
- Business
- Economic Times
Lender Oxyzo's revenue rises 34% to Rs 1,207 crore in FY25; net profit up 17%
Oxyzo Financial Services, the lending arm of SoftBank-backed B2B commerce startup OfBusiness, reported a 33.6% jump in operating revenue to Rs 1,207 crore for the fiscal year ended March 2025, driven by a 32% increase in interest income. The Gurugram-based company posted a net profit of Rs 339.1 crore for the year, up 16.7% from Rs 290.5 crore the previous fiscal year. Interest income from loan disbursements contributed Rs 1,140.6 crore, accounting for 95% of Oxyzo's operating revenue. The remainder largely came from fee and commission in 2015 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta and Nitin Jain, IPO-bound OfBusiness operates an ecommerce platform that enables manufacturing companies to source raw materials online. Its catalogue includes steel, non-ferrous metals, chemicals, agricultural products, polymers, energy commodities, textiles, construction materials and majority-owned by OfBusiness, works closely with the parent platform to offer credit facilities to its customers. Despite the improved financial performance, the company's total expenses rose 46% year-on-year to Rs 754.6 crore in FY25, up from Rs 514.2 crore. Finance costs increased 38.3%, while employee benefit expenses rose 24.3% to Rs 143 crore. In 2022, ET reported that Oxyzo raised its first external funding round of $200 million at a post-money valuation of $1 billion, making it a unicorn.'We've grown with prudence — focusing not just on scale, but on the quality of our book, our risk practices, and our deepening presence across core sectors of the Indian economy,' Kalra, CEO and cofounder, said in a statement. According to data from Tracxn, OfBusiness holds a 67.5% stake in Oxyzo, while Alpha Wave Global owns around 7.1% and Tiger Global holds about 4.3%. OfBusiness converted into a public entity in January, a key step toward its planned initial public offering, which is expected to raise between $750 million and $1 billion when it happens, according to reports.
Time of India
5 days ago
- Business
- Time of India
Unlisted SME financier Oxyzo hits total assets of Rs 9,236 crore
Tired of too many ads? Remove Ads SME financier Oxyzo has scaled up assets to Rs. 9236 crore in financial year 2024-25, the Tiger Global and Alpha Wave backed company said in a statement. This is a 25% growth in its assets from the previous financial year. It has assets of Rs. 7364 crore in financial year 2023-24. Oxyzo is a part of OfBusiness financier which lends to micro, small and medium enterprises and emerging corporates across core sectors such as manufacturing and infrastructure said it had debt of Rs. 6,028 crore extended by large public and private sector banks, foreign banks, non bank finance companies, alternative investment funds and mutual posted total income of Rs. 1211 crore and profit after tax of Rs. 339 crore in financial year other shareholders include Norwest Venture Partners, Creation Investments and Z47.'Oxyzo's approach of combining prudent credit practices with sectoral depth has allowed us to support SMEs at scale. We've grown with prudence —focusing not just on scale, but on the quality of our book, our risk practices, and our deepening presence across core sectors of the Indian economy,' said Ruchi Kalra, the company's chief executive officer and co-founder.
