Rentomojo's net profit dropped 62.6% in the Sept quarter, landing at ₹18.19 crore, down from last year's ₹48.61 crore.
This sharp dip was mostly because of a tax change, flipping from a big tax credit last year to a tax expense this time.
Rentomojo subscribers up 42.5% to 3.24L
Even with profits down, Rentomojo's total income jumped 53.1% to ₹143.79 crore.
Orders shot up by 45%, and the subscriber base grew to 3.24 lakh, up 42.5%.
The company also expanded fast, now running 96 stores across 14 cities (up from 67 last year).
Founder and CEO Geetansh Bamania says they're focused on growing even more while keeping an eye on profitability: "We remain focused on scaling Rentomojo through subscriber growth, better asset utilization and technology, while maintaining strong profitability, cash generation and returns on capital."