Krazybee, the non-banking financial company (NBFC) arm of KreditBee, experienced significant growth in the fiscal year ending March 2024 (FY24), nearly doubling its revenue and tripling its profits. According to its standalone annual financial statement, Krazybee’s revenue increased to Rs 1,399 crore in FY24 from Rs 717 crore in FY23. Specializing in personal loans through its own and third-party NBFCs and banks, Krazybee's interest income rose 2.5 times to Rs 1,225.83 crore, while fees and commissions contributed Rs 169 crore, bringing the total revenue to Rs 1,400 crore.
Krazybee’s total expenses saw an 80% increase, reaching Rs 1,132 crore in FY24 from Rs 630 crore in FY23. The amortized cost of loans, which made up 38% of these expenses, grew by 74% to Rs 432 crore. Additionally, finance costs increased by 43% to Rs 235 crore during the same period.
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