BENGALURU, Sept. 30 (CandyPulse) — One of India's biggest crypto platforms has hit a major milestone. CoinSwitch said its revenue jumped 150% in the 2026 financial year to ₹324.19 crore, and it turned profitable on an adjusted EBITDA basis, according to reports from Moneycontrol and Deccan Herald.
Key takeaways
| Metric | FY25 | FY26 |
|---|---|---|
| Revenue | ₹129.7 crore | ₹324.19 crore |
| Adjusted EBITDA | ₹1.65 crore | ₹86.38 crore |
| Adjusted EBITDA margin | 1% | 27% |
| Operating costs | ₹196.9 crore | ₹270.07 crore |
FY25 revenue and costs are derived from the reported year-on-year changes.
The story is one of operating leverage. Revenue rose by ₹194.49 crore during the year, while operating costs rose by only ₹73.17 crore, or 37%. That gap is what turned a near-breakeven business into a profitable one.
CoinSwitch also said revenue per employee more than doubled, even as its headcount grew 11%.
India's crypto industry has had a tough few years, with heavy taxes on crypto trading and profits and years of regulatory uncertainty. A leading platform reaching profitability shows that demand from Indian investors is holding up, and that exchanges can make the numbers work despite the tax burden.
A note on the figure: adjusted EBITDA is a measure of operating profit that leaves out items such as interest, taxes, depreciation and certain one-off costs. It isn't the same as net profit.
Investors will watch whether CoinSwitch can keep growing revenue faster than costs, and whether India's crypto rules become clearer over the next year.
This article is for information only and is not financial advice.
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