Niyo FY26 income rises 78% to Rs 178 crore, net loss narrows

Travel fintech Niyo reported a 78% year-on-year increase in consolidated income to Rs 178 crore in FY26, up from Rs 100 crore in the previous fiscal, a company statement said.

Net loss narrowed 58% to Rs 33 crore in FY26 from Rs 78 crore in FY25, driven by productivity improvements and operational efficiencies across customer service, operations, marketing and product development.

Niyo’s total operating expenses grew 20% to Rs 201 crore in FY26, compared with Rs 168 crore in the previous fiscal.

Employee costs increased 17% to Rs 92 crore from Rs 79 crore a year earlier, largely due to the integration and expansion of Kanji Forex under its Authorised Dealer Category-II licence and the addition of more than 200 employees to support the business.

The company’s EBITDA loss also improved, declining to Rs 32 crore in FY26 from Rs 77 crore in FY25.

Founded in 2015 by Vinay Bagri and Virender Bisht, Niyo has been expanding its cross-border financial services portfolio, with growing contributions from forex cash, remittances, flights, hotels, travel experiences, international eSIMs and insurance products. The company has also strengthened its presence through the expansion of its Niyo Forex network across India.

During the year, Niyo incorporated Finnew Global Solutions IFSC Private Limited in GIFT City and received approval to operate as a Payment Service Provider under IFSCA regulations. The company is also pursuing the acquisition of RemitX’s cross-border business to deepen its presence in the consumer cross-border payments segment.