Only six of India's 51 unicorns that have filed results were profitable in FY22
Among the 51 unicorns, Of Business had the highest profit of Rs 201 crore, which grew nearly fourfold from its previous year’s profit of Rs 56 crore. The company, which counts SoftBank, Tiger Global, and Alpha Wave Global, among others, as its backers, managed to register a 313 percent growth in revenue in FY22 over the previous year.
Infra.Market, a platform catering to the construction industry, was the only other unicorn with a profit of more than Rs 100 crore during the year. The Accel and Tiger Global-backed company’s profit grew fivefold in FY22 from a year earlier.