India, Aug. 15 -- CRED-backed NBFC NewTap Finance reported a net profit of Rs.2.4 Cr in the financial year ended March 31, 2026 (FY26), more than doubling from Rs.1 Cr in the previous fiscal year, as the lender sharply expanded its managed loan portfolio.

NewTap's total income, excluding interest expense, jumped 116% to Rs.259 Cr in FY26 from Rs.120 Cr in FY25, according to CRISIL Ratings. Its return on assets improved to 0.25% from 0.15% during the period.

The NBFC's managed assets under management (AUM) stood at Rs.4,582 Cr at the end of FY26, having grown at a CAGR of about 156% between FY23 and FY26, CRISIL said.

Around 81% of NewTap's AUM was held off-book under non-first-loss default guarantee (FLDG) arrangements, while the remai...