Startups deepen profit focus in Q3Intro: Most firms improve bottom lines as profit discipline sharpens

Several new-age tech-based companies reported improving profitability in the December quarter, underscoring a continued shift away from growth-at-all-costs strategies towards more sustainable business models. Of the 12 major startups that have reported results so far for the October-December quarter, nine showed an improvement in their bottomlines, with most also posting double-digit revenue growth.

Payments and fintech firms were among the strongest performers. MobiKwik swung to a profit of Rs 4 crore in Q3 from a loss of Rs 53 crore a year earlier, helped by sharply lower lending-related expenses.