Niyogin Fintech Limited has reported steady consolidated profitability for the quarter ended December 31, 2025, supported by sustained performance across its iServeU and NBFC businesses, along with disciplined cost management.
The company said both its NBFC and iServeU verticals delivered profitable results in line with internal guidance, marking multiple consecutive quarters of sustained profitability. This consistency, management noted, remains central to the company’s strategic objectives for the year.
iServeU continued to strengthen its operating momentum during the quarter, with its order book expanding to approximately Rs 635 crore across 43 contracts. These contracts span soundbox solutions, POS deployments, and bill payment services. The business also added 17 new partners under its program management vertical, broadening its distribution network and geographic reach. Net revenue for iServeU stood at Rs 21.2 crore during Q3 FY26, reflecting a 23.5 per cent quarter-on-quarter growth, alongside continued improvement in EBITDA performance.
The company highlighted that while Q3 numbers were partially supported by RBI subsidy benefits under the Payment Infrastructure Development Fund (PIDF) scheme, strong growth in soundbox deployments, rising UPI transaction volumes, and expanding bill payment activity are expected to sustain momentum in upcoming quarters.
On the NBFC front, assets under management (AUM) stood at Rs 314 crore, including off-book exposure, with partnerships contributing nearly 89 per cent of the portfolio. The calibrated approach reflects the company’s cautious stance amid evolving unsecured lending dynamics. Net revenue for the NBFC business stood at Rs 7.4 crore during the quarter, while profit before tax (excluding ESOP costs) reached Rs 1.6 crore. Gross disbursements during Q3 were Rs 120 crore, with lifetime loans disbursed crossing 2.2 lakh.
The balance sheet remains conservatively structured, with a debt-to-equity ratio below 1.0. During the quarter, Niyogin raised Rs 40 crore, further strengthening liquidity and financial flexibility.
The company also confirmed that it has received a formal no-objection certificate (NOC) from SEBI for its proposed demerger and is currently awaiting final approval from the Reserve Bank of India, after which the process will move to the National Company Law Tribunal (NCLT) stage. Management reiterated its focus on scaling both digital infrastructure and lending operations profitably, positioning the platform for sustainable growth across fintech and embedded finance segments.
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