Bengaluru-based CoinSwitch, a crypto investing and trading platform, said on September 29 it became profitable on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis in FY26 as revenue rose 150% year on year to 3.2 billion rupees (US$33.8 million).

Adjusted EBITDA rose to 863.8 million rupees (US$9.02 million) from 16.5 million rupees (US$172,000) in FY25.

Its adjusted EBITDA margin widened to 27% from 1%, while operating costs rose 37% to 2.7 billion rupees (US$28.2 million).

CoinSwitch’s core business remains crypto services that let users buy and trade digital assets.

It also offers SIPs, or systematic investment plans, as a recurring crypto investment product.

The company had previously raised US$260 million in a series C round announced in October 2021 from investors including Coinbase Ventures and Andreessen Horowitz.

The move to profitability comes as India’s crypto sector continues to operate under a tighter tax regime that previously hurt trading volumes at local exchanges.

🔗 Source: CoinSwitch