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After years of burn, Slice plots FY26 profit turnaround

Livemint

Livemint · 1m ago

After years of burn, Slice plots FY26 profit turnaround

Slice, a fintech startup, transformed into a full-stack digital bank following its merger with North East Small Finance Bank, amid regulatory challenges. Previously hindered by an RBI circular in 2022 that impacted its credit line offerings via prepaid payment instruments, this strategic move helped Slice stabilize and revitalize its business model. The company, now operating as a regulated bank, aims for full-year profitability by FY26 after achieving monthly profitability.

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Related News

Slice SFB aiming to close FY26 in the black; not looking to raise any capital - The Economic Times

Economic Times

Economic Times · 1m ago

Slice SFB aiming to close FY26 in the black; not looking to raise any capital - The Economic Times

Slice Small Finance Bank, formed from a merger between fintech Slice and North East SFB, is now profitable monthly and targets FY26 for full-year profitability. The bank, led by Executive Director Rajan Bajaj, is well-capitalized and not seeking additional funds. Its strategy focuses on pan-India expansion via digital channels without further mergers. They aim to transition to a universal bank, expanding services like consumer credit and UPI-based credit cards, targeting underserved banking populations.

Exclusive: slice Doubles Down On Its Lending Play; Pilots Personal Loans Of Up To INR 5 Lakh

Inc42 · 1y ago

Exclusive: slice Doubles Down On Its Lending Play; Pilots Personal Loans Of Up To INR 5 Lakh

Slice, a fintech startup, is testing a new lending product called "slice personal loan." This product allows users to borrow up to INR 5 Lakh for a period of 5 years. While currently available to a limited number of users, slice plans to expand the offering to more customers in the near future. In a recent funding round, slice secured $20 million in debt funding from Neo Asset Management's Credit Opportunities Fund.

IFCI turns a corner with advisory biz; posts first profit in 7 years

Livemint

Livemint · 1y ago

IFCI turns a corner with advisory biz; posts first profit in 7 years

Government-owned non-bank IFCI Ltd has reported a profit of INR 128 crore in the financial year 2023-24, marking a turnaround after seven consecutive years of losses. The company expanded into government and private corporate advisory services, which contributed to the improved financial performance. IFCI's revenue increased by 19% to INR 896 crore. In recent years, the company focused on curtailing lending operations and expanding its advisory services. The government infused INR 500 crore into IFCI through equity shares, increasing its stake to 71.72%. IFCI's stock price has nearly tripled in the past year.

Fintech Slice merges with North East Small Finance Bank

Economic Times

Economic Times · 1y ago

Fintech Slice merges with North East Small Finance Bank

Fintech company Slice is set to acquire North East Small Finance Bank (NESFB) after receiving approval from the Reserve Bank of India (RBI). While awaiting shareholder consent and other regulatory approvals, Slice, backed by Tiger Global and RTP Global, plans to merge with NESFB. This move comes as Slice, originally an NBFC, faced the option of converting into a bank or acquiring one. The recent RBI directive prohibiting loading credit lines on prepaid cards affected Slice, prompting the merger.

Slice giving loans upto ₹5 lakh under new project: Sources

Inshorts · 1y ago

Slice giving loans upto ₹5 lakh under new project: Sources

Bengaluru-based fintech unicorn slice is piloting a new lending product under the name 'slice personal loan', under which users can avail a loan of up to ₹5 lakh for a tenure of 5 years (60 months), sources told Inc42. Currently, the product is being offered only to select users, the sources added.

All you need to know about Greater Noida Authority’s commercial plots scheme

Money Control

Money Control · 1y ago

All you need to know about Greater Noida Authority’s commercial plots scheme

The Greater Noida Industrial Development Authority (GNIDA) has launched a scheme for the sale of 12 commercial plots in Greater Noida. These plots will be used to build commercial complexes, malls, and other commercial stores. The plots are located across four different sectors and have good connectivity with the Yamuna Expressway and Eastern Peripheral Expressway. The sizes of the plots range between 3,600 and 10,600 square meters, with a reserve price of Rs 90,821 per square meter. The allotment will be done through an e-auction, and the payment can be made in full or through a 3-year installment plan. The plots have a floor area ratio of 4, allowing for more high-rise commercial buildings in the region.

Razorpay projects EBITDA breakeven in FY26

The Arc Web

The Arc Web · 9m ago

Razorpay projects EBITDA breakeven in FY26

Razorpay's management anticipates that the company's EBITDA loss will shrink further in FY25 before it declares a small EBITDA profit of $3-4 million in FY26. It has projected a topline of nearly $550-600 million for FY26.

Tracxn profit dips 12% in Q1 FY26; revenue remains flat

Entrackr

Entrackr · 12h ago

Tracxn profit dips 12% in Q1 FY26; revenue remains flat

Data and research platform Tracxn announced its financial results for the first quarter of the ongoing fiscal year (Q1 FY26) on Thursday. The firm’s revenue grew by a mere 3.4% over the period, while profit fell 12.6%. Tracxn's revenue from operations increased 3.4% to Rs 21.2 crore in Q1 FY26, compared to Rs 20.5 crore in Q1 FY25, its financial statements sourced from the National Stock Exchange (NSE) show. On a quarter-on-quarter basis, Tracxn’s operating revenue remained flat at Rs 21.2 crore in Q1 FY26 from Rs 21.14 crore in Q4 FY25. Tracxn generated its entire operating revenue from subscription sales, offering access to its data and software. However, the Bengaluru-based firm did not provide a detailed revenue breakdown for the quarter. The company also made Rs 1.68 crore from non-operating sources which took Tracxn’s total revenue to Rs 22.88 crore in the first quarter. Employee benefits remained the largest cost center for Tracxn, accounting for 88% of its total expenditure. This expense increased by 7% year-on-year, rising to Rs 18.95 crore in Q1 FY26 from Rs 17.67 crore in Q1 FY25. Overall, Tracxn's total costs grew by approximately 6%, reaching Rs 21.43 crore in Q1 FY26. The company’s profit after tax decreased to Rs 1.11 crore in Q1 FY26 from a profit of Rs 1.27 crore in Q1 FY25. However, the company reported a profit before tax of Rs 1.45 crore. At the end of Thursday’s session, Tracxn’s share price was trading at Rs 56.24, giving the company a market capitalization of Rs 604 crore ($69 million).

A&M India appoints two former Accenture Strategy execs as MD

VCCircle

VCCircle · 9m ago

A&M India appoints two former Accenture Strategy execs as MD

Professional services and turnaround firm, Alvarez & Marsal (A&M) India, has named Jugnu Sakuja and Shubhra Goel as managing directors. The appointments come as the company aims to achieve five-fold growth over the next five years. Sakuja brings more than 18 years of consulting experience to the role, while Goel has over 20 years of experience in financial services and consulting. A&M provides advisory, business performance improvement, and turnaround management services.

slice Ropes In Former Kotak Executive Arvind Kathpalia As Chief Risk Advisor

Inc42 · 1y ago

slice Ropes In Former Kotak Executive Arvind Kathpalia As Chief Risk Advisor

Fintech unicorn slice has appointed Arvind Kathpalia, the group president and chief risk officer at Kotak Mahindra Bank, as its chief risk advisor. This comes after the Competition Commission of India approved the merger of slice with North East Small Finance Bank. In his new role, Kathpalia will focus on providing risk advisory and enhancing the risk management systems during the merger process. Slice, formerly known as slicepay, initially operated as a buy now, pay later platform before pivoting to offer personal loans and UPI payment services.

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