New Delhi, India:
Cashify, India’s leading platform for buying and selling refurbished smartphones, has sharply reduced its losses by 80% year-on-year, bringing them down to just ₹10 crore in FY25, compared to ₹50 crore in FY24.
The company’s total revenue increased 20% to ₹760 crore during FY25, driven by a strong surge in demand for refurbished and pre-owned smartphones amid rising prices for new devices.
Cashify’s CEO attributed the improved financials to cost efficiency, better pricing models, and an expanded retail presence across metro and tier-2 cities.
“Our focus on sustainable consumption and affordability has helped us reach more customers, while maintaining profitability discipline,” said a company spokesperson.
The brand, which also operates recycling and trade-in programs in partnership with smartphone giants such as Apple, Samsung, and Xiaomi, has benefited from India’s growing circular economy and the increasing acceptance of refurbished electronics.
Industry experts believe that Cashify’s turnaround positions it well for a potential IPO in the next few years, especially as the refurbished electronics segment is expected to grow at over 25% CAGR in India.
Summary Table
| Particulars | FY24 | FY25 | Change |
|---|---|---|---|
| Revenue | ₹635 crore | ₹760 crore | 🔼 20% increase |
| Net Loss | ₹50 crore | ₹10 crore | 🔽 80% decline |
| Key Growth Driver | Refurbished smartphone sales | Increased consumer adoption | |
| Profitability Focus | Cost optimisation, higher resale margins | Improved efficiency |
