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Cryptocurrency investment platform CoinSwitch turned profitable on an adjusted EBITDA basis in FY26, with revenue rising 150% year-on-year to Rs 324.19 crore, according to figures
released by the company on Monday.
The company’s adjusted EBITDA increased more than 50 times to Rs 86.38 crore in FY26, compared with Rs 1.65 crore in FY25. Its adjusted EBITDA margin also rose to 27%, from 1% a year earlier.
CoinSwitch’s revenue increased by Rs 194.49 crore during the financial year, while operating costs rose 37% to Rs 270.07 crore from the previous year. The company attributed the improvement in profitability to revenue growth outpacing the increase in its cost base.
Revenue per employee more than doubled during FY26, while the employee base increased by 11%, the company said. It added that spending continued across technology, product development, security and customer experience while operating costs were kept under control.
“Growth is only one part of the story. The harder part is building a business that can scale without losing discipline,” CoinSwitch co-founder Ashish Singhal said in a statement.
The company also said it continued to expand its active user base during FY26 and increased its focus on educational initiatives aimed at helping first-time users understand cryptocurrency and digital assets.
The financial performance comes as India's crypto industry continues to operate amid regulatory and taxation challenges. CoinSwitch said its focus remains on expanding its platform while improving user understanding of crypto assets.
The company’s adjusted EBITDA increased more than 50 times to Rs 86.38 crore in FY26, compared with Rs 1.65 crore in FY25. Its adjusted EBITDA margin also rose to 27%, from 1% a year earlier.
CoinSwitch’s revenue increased by Rs 194.49 crore during the financial year, while operating costs rose 37% to Rs 270.07 crore from the previous year. The company attributed the improvement in profitability to revenue growth outpacing the increase in its cost base.
Revenue per employee more than doubled during FY26, while the employee base increased by 11%, the company said. It added that spending continued across technology, product development, security and customer experience while operating costs were kept under control.
“Growth is only one part of the story. The harder part is building a business that can scale without losing discipline,” CoinSwitch co-founder Ashish Singhal said in a statement.
The company also said it continued to expand its active user base during FY26 and increased its focus on educational initiatives aimed at helping first-time users understand cryptocurrency and digital assets.
The financial performance comes as India's crypto industry continues to operate amid regulatory and taxation challenges. CoinSwitch said its focus remains on expanding its platform while improving user understanding of crypto assets.
