India, July 15 -- Norwest Ventures-backed lending tech startup Finova Capital recorded an 11% year-on-year (YoY) decline in its net profit for the fiscal year FY26 to Rs.165.3 Cr from Rs.185 Cr in the previous fiscal year.

Operating revenue grew 21% to Rs.921.4 Cr from Rs.762.3 Cr in the previous year. Interest income accounted for Rs.901.7 Cr of its revenue while a further Rs.10.6 Cr came from fees and commissions. It earned the remainder Rs.9.1 Cr revenue from net gain on fair value changes (profit on investments).

Notably, Finova's loan disbursements fell sharply by 17% to Rs.1,161.9 Cr in FY26 from Rs.1,396.9 Cr in the previous fiscal, while its gross assets under management (AUM) grew 10% to Rs.3,827.8 Cr.

Gross and net NPAs also ...