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Indifi Turns Profitable In Q1 FY23

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Indifi Technologies today announced that it recorded its first profitable quarter in the first quarter of FY23. In FY22, upon emerging from COVID, the company had cautiously begun to accelerate growth and more than doubled its loan portfolio. The momentum continued in FY23 as the company reported successive months of record disbursement growth in the first quarter.

Indifi’s partnerships with digital ecosystems and the launch of new credit programs, which serve a wider range of segments, have been key growth drivers. Growth in disbursements continues to come from tighter credit standards, increase in avg. ticket size, duration and margin improvement. This has been made possible through sustained investment in risk analytics, increased machine learning (ML) capabilities, and constant alignment with industry-specific data-driven dashboards ( developed internally) to assess the solvency of SME borrowers.

Additionally, the ability to discriminate, rank and order risk for each disbursement has underpinned important business decisions such as choice of growth segments, quality control of acquisition and NPAs/losses on receivables. As a result, Indifi ensured a collection efficiency of over 98% and the NPA was kept below 1%.

Indifi’s long-standing partnerships with leading digital ecosystems across all segments (e-commerce, retail, food, travel, payments, etc.) include big name names such as Amazon, Fiserv, Flipkart; Swiggy; Google; Meesho; Meta, Myntra, among many others. At the same time, on the supply side, the number of banks and NBFCs that now rely on the company’s rating models to extend credit to the end borrower, has also increased on the platform. Some of the recent additions to the list have been SIDBI, IDFC First Bank, DMI Finance, U-Gro Capital, InCred, IIFL Finance, ABFL to name a few.

Commenting on this milestone, Aditya Harkauli, Chief Commercial Officer of Indifi said, “We aim to meet customer needs, in a cost effective manner. The measures of growth and profitability, in tandem, remain the measures of success for us. This approach incorporates the inalienable and obvious need to also calibrate and control credit losses. Going forward, we hope to grow at a faster rate – aiming to double our pound year on year with gradually improving our ROTA/ROE numbers. We will build on expanding and deepening our network of digital partners and lenders; and continuously investing in new products as well as, as it is important to say more than once, our risk management capabilities”.


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