SynopsisSoftBank-backed OfBusiness reported a 7% fall in FY26 revenue to Rs 20,645 crore, while net profit rose 21% to Rs 724 crore. The company improved margins and generated positive free cash flow. Its proposed $750 million-$1 billion initial public offering remains deferred.ETtechOfBusiness cofounders (clockwise from left) - Nitin Jain, Asish Mohapatra, Vasant Sridhar, Ruchi Kalra and Bhuvan GuptaSoftBank-backed business-to-business commerce and lending platform OfBusiness reported a 7% decline in consolidated revenue to Rs 20,645 crore in FY26 from Rs 22,241 crore a year earlier. Net profit, however, rose 21% to Rs 724 crore from Rs 597 crore, the company said in a statement on Wednesday.Its commerce unit reported revenue of Rs 19,174 crore, flat after adjusting for discontinued operations. Earnings before interest tax depreciation and amortisation (Ebitda) increased to Rs 769 crore from Rs 575 crore, with margin widening to 4% from 2.6% as the company integrated manufacturing and exited low-return subcategories, the company said.OfBusiness said its operating cash flow from commerce rose to Rs 1,302 crore from Rs 715 crore, while free cash flow to the firm turned positive at Rs 390 crore. Oxyzo, its lending arm, ended FY26 with assets of about Rs 11,800 crore, up 28%, a 3.8% return on assets and gross bad loans of 0.75%.OfBusiness converted into a public company in January 2025 ahead of a proposed $750-million-to-$1-billion initial public offering, which has since been deferred. It was valued at $5 billion it raised funding in 2021. OfBusiness said its consolidated net worth stood at Rs 10,300 crore, with liquidity exceeding Rs 2,000 crore. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now