News Post

OfBusiness revenue crosses Rs 15,000 Cr in FY23, profits surge 2.3X

Entrackr

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Industrial goods and services procurement platform OfBusiness experienced significant growth in the last fiscal year, with its gross merchandise value (GMV) more than doubling to Rs 15,342 crore in FY23 from Rs 7,140 crore in FY22. The company primarily operates in trading and manufacturing sectors, with trading contributing to 82% of its GMV. Overall expenditure also increased 2.14 times, reaching Rs 15,037 crore in FY23. Despite this, OfBusiness achieved a 2.3 times increase in profits to Rs 463 crore in FY23. The company has also introduced various tech offerings for SMEs and its lending arm, Oxyzo, reported a profit of Rs 197 crore in FY23.

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