India Making Consistent Profits 19 of 431 adtech companies in India reported a profit in every one of the last 3 financial years. Who they are, what they earn and what the numbers say. 19 adtech companies profitable in ₹75 cr combined net profit in FY25 every year, FY23–FY25 431 independent adtech companies tracked in India Part 1 The list: the rule, the findings and the ranking of all 19 companies Part 2 Industry insights: sector finances, size, geography, segments, survival and capital Part 3 Company profiles: full descriptions, multi-year financials and funding history Method How the brief was built, its checks and its limits Updated October 2026 fliarbi.com/radar
S T How a company made this list A profit after tax in every one of the last 3 financial years (FY23–FY25) Independent adtech companies headquartered in India, not acquired or shut down. Filed annual accounts on record for each of the last 3 financial years (FY23–FY25). Net profit above zero in each of those years, and revenue of at least ₹5 cr in FY25 so that shell and dormant entities do not qualify. Ranked by combined net profit across the period. What the numbers say Radar tracks 431 independent adtech companies in India. 102 have filed accounts on record that passed Radar's attribution checks, and 19 of them reported a profit in each of FY23, FY24 and FY25. Of the 74 companies with FY25 accounts, 48 (65%) were profitable that year. Staying profitable for 3 years running, with ₹5 cr or more of revenue, narrows the list to 19. Together these 19 companies earned ₹74.7 cr of net profit in FY25, up from ₹51.5 cr in FY23 (+45%). Profit is concentrated: the top 3 (Vertoz, AdCounty Media, Adsolut) account for 64% of the combined 3-year profit. The median net margin of the 19 was 5.6% in FY25. For the other 55 companies filing that year it was 0.3%. Consistent does not mean growing: 7 of the 19 earned less in FY25 than in FY23. 11 of the 19 have been profitable for 8 or more consecutive years on record. 8 of the 19 are based in the Delhi NCR (Delhi, Gurugram and Noida). 14 of the 19 have no outside funding round on record. The other 5 have at least one. 2 of the 19 are listed on a stock exchange. Radar by Fliar · Adtech Companies in India Making Consistent Profits 2
S T Profit by year, and where these companies sit Net profit by financial year, the 10 largest profit earners on the list. FY25 revenue against net margin. Green: profitable in every year of the window. Grey: every other company with FY25 accounts. Radar by Fliar · Adtech Companies in India Making Consistent Profits 3
T R Y I N S I G H T S The adtech sector in India, in numbers Computed from the same company records as the list, covering every adtech companies Radar tracks in India, not just the 19 listed. The short version 1 38% of the 742 Indian adtech companies Radar has tracked are recorded as shut down. 11 of the 19 on this list have been profitable for 8 or more consecutive years on record. 2 The smallest companies are the likeliest to be loss-making: 50% of those under ₹5 cr made a profit in FY25, against 83% and 89% in the two bands from ₹5 cr to ₹100 cr. 3 Funding and profit did not go together here: 13 of 27 funded companies (48%) with FY25 accounts were profitable, against 35 of 47 (74%) with no round on record. That describes the two groups, not why they differ. 4 Revenue is concentrated: the five largest of the 65 companies with a full record hold 63% of FY25 revenue, and the group's combined net margin was 2.6%. 5 Among the 19 on this list the median net margin in FY25 was 5.6%, ranging from 0.3% to 20.4%. The sector’s financial shape 65 companies have accounts on record for every year from FY23 to FY25. Together their revenue went from ₹1,916 cr to ₹2,667 cr (+39%), and their combined net profit from ₹41 cr to ₹70 cr. The number in profit rose from 44 of 65 in FY23 to 46 of 65 in FY25. The five largest (Glance, Adyogi, Silver Push, Vertoz, MoMAGIC Technologies) account for 63% of FY25 revenue in this group, so the totals say more about them than about a typical company. Only companies with every year on record are counted, so the three years are like for like. Radar by Fliar · Adtech Companies in India Making Consistent Profits 5
the share in profit was 50% in the Under ₹5 cr band (20 of 40), 83% in the ₹5–25 cr band (15 of 18), 89% in the ₹25–100 cr band (8 of 9), 71% in the ₹100 cr and above band (5 of 7). The share in profit was highest in the ₹25–100 cr band (89%) and lowest in the Under ₹5 cr band (50%). Size alone does not decide it: the share in profit does not rise steadily with revenue. REVENUE BAND, FY25 COMPANIES IN PROFIT MEDIAN NET MARGIN ON THIS LIST Under ₹5 cr 40 20 -0.1% 0 ₹5–25 cr 18 15 2.2% 10 ₹25–100 cr 9 8 3.0% 5 ₹100 cr and above 7 5 2.1% 4 The ₹100 crore and above band has few companies, so treat its percentage with care. Where the companies are Delhi NCR (Delhi, Gurugram, Noida and neighbours) is home to 120 of the 431 tracked companies, against 76 in Bengaluru and 51 in Mumbai. Among companies with FY25 accounts, 16 of 28 in the NCR were profitable, against 11 of 20 in Bengaluru and 5 of 7 in Mumbai. CITY TRACKED WITH FY25 ACCOUNTS IN PROFIT ON THIS LIST Bengaluru 76 20 11 3 Gurugram 51 16 9 4 Mumbai 51 7 5 2 Delhi 43 8 5 2 Hyderabad 28 4 3 2 Noida 22 4 2 2 Radar by Fliar · Adtech Companies in India Making Consistent Profits 6
accounts, Demand-side platforms had the highest share in profit (8 of 9, 89%) and Mobile advertising the lowest (12 of 20, 60%). Segments use Radar’s own business-category labels, so one company can appear in more than one row. SEGMENT TRACKED WITH FY25 ACCOUNTS IN PROFIT SHARE ON THIS LIST Ad networks 174 19 12 63% 5 Mobile advertising 96 20 12 60% 4 Demand-side platforms 21 9 8 89% 6 Marketing technology 64 18 12 67% 3 AI in advertising * 18 5 1 20% 0 * Fewer than 8 companies with FY25 accounts: too small a base to compare. Who survives Radar has tracked 742 Indian adtech companies. 435 (59%) are still independent, 279 (38%) are recorded as shut down and 28 (4%) as acquired. The shut-down rate is highest for companies founded in 2013–15: 106 of 209 (51%). For companies founded in 2022 or later it is 10 of 93 (11%), but they have had little time to fail. “Shut down” is the status recorded in Radar’s data, which can lag reality in either direction. Radar by Fliar · Adtech Companies in India Making Consistent Profits 7
a funding round on record: 92 rounds in all, between 2007 and 2025. Amounts were disclosed for 81 of those rounds and total $1.3 billion. The three largest rounds make up 57% of it. Of the 27 funded companies with FY25 accounts, 13 (48%) were profitable. Of the 47 without a recorded round, 35 (74%) were. MOST ACTIVE INVESTORS IN THE SECTOR TYPE COMPANIES BACKED Angel List Firm 3 Anupam Mittal Angel 3 Netcore Firm 3 Smile Group Firm 3 Aloke Bajpai Angel 2 Chiratae Ventures Firm 2 Dinesh Agarwal Angel 2 Inflection Point Ventures Firm 2 Radar by Fliar · Adtech Companies in India Making Consistent Profits 8
Y P R O F I L E S The 19 companies in full Descriptions are the company descriptions on record. Financials are as filed, in ₹ crore. 10-yr profit streak 1. Vertoz Mumbai · founded 2012 · files as Vertoz Ltd · consolidated accounts Listed No funding on record “Empowering Digitization For Businesses” Provider of MadTech and CloudTech platforms for digital advertising solutions. The company offers tools for programmatic advertising, media representation, and advertising exchanges. It also provides cloud technology solutions to establish online presence and streamline business operations. The platforms empower agencies, publishers, and brands with monetization tools and real-time performance optimization. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 42.3 59.0 42.6 83.8 156.9 262.2 NET PROFIT 4.1 8.2 6.1 11.0 16.1 25.7 NET MARGIN 9.6% 13.9% 14.3% 13.2% 10.3% 9.8% 8-yr profit streak Listed NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹52.8 cr +213% Funding. No funding round on record. Radar profile fliarbi.com/company/vertoz/105rcf5omz/ 2. AdCounty Media Jaipur · founded 2017 · files as Adcounty Media India Ltd · standalone No funding on record accounts Provider of market research and advertising services. It offers services such as performance marketing, lead generation, media buying and planning, and more. It leverages data-driven strategies, user-centric thinking, digital transformation, attribution modelling, and automation to deliver customer-focused solutions. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 19.4 16.2 31.0 53.8 43.1 69.6 NET PROFIT 1.1 1.0 2.1 7.7 8.2 13.8 NET MARGIN 5.6% 6.0% 6.7% 14.4% 19.0% 19.8% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹29.7 cr +29% Funding. No funding round on record. Radar profile fliarbi.com/company/adcounty-media/13vqwqiip0/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 9
files as Adsolut Media Pvt Ltd · standalone accounts No funding on record Adsolut is a contextual Ad Network company to optimize ad inventory. The features for publishers include real user engagement for conversion optimization and partnership with ad exchanges for premium ads. Customized Ad Formats are also offered in the form of Display Ads, Video Ads, and In-App Ads. ₹ CRORE FY23 FY24 FY25 REVENUE 106.1 97.2 121.3 NET PROFIT 8.9 8.1 12.2 NET MARGIN 8.4% 8.3% 10.0% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹29.2 cr +14% Funding. No funding round on record. Radar profile fliarbi.com/company/adsolut/gavdotjf1y/ 4. AdElement 7-yr profit streak Pune · founded 2010 · files as Adelement Media Solutions Pvt Ltd · standalone No funding on record accounts “Self-service Display Ad Platform with Dynamic Creative and Algorithmic Buying” Self-serve platform for advertisers to create dynamic ads, target audience by location, behaviour and context, retargeting visitors and automated bid optimisation for real-time media buying. Has offices in California and Pune, India. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 4.8 4.3 6.0 9.0 16.1 22.0 NET PROFIT 0.3 1.3 1.8 2.7 5.1 4.5 NET MARGIN 6.1% 29.9% 29.5% 30.2% 31.8% 20.4% NET PROFIT FY23–FY25 ₹12.3 cr REVENUE FY23→FY25 +144% Funding. No funding round on record. Radar profile fliarbi.com/company/adelement/3vxsk2rcai/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 10
files as Icubeswire Technologies Pvt Ltd · standalone accounts No funding on record “IcubesWire- Digital Marketing for over 500 Brands” Ad tech platform that optimizes customer acquisition and retention. It is ad tech platform, leveraging its network of connected devices to optimize customer acquisition and retention through machine learning-driven advertising solutions. It offers an affiliate advertising network for advertisers to reach their target consumers across industry verticals including news, travel, finance, jobs, eCommerce, automobile, sports, and entertainment. Enables advertisers to track affiliate marketing campaign performance and monitor conversion rates. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 41.0 31.6 47.3 95.4 105.0 112.4 NET PROFIT 0.2 0.4 1.9 8.4 0.9 0.3 NET MARGIN 0.6% 1.4% 3.9% 8.9% 0.8% 0.3% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹9.6 cr +18% Funding. No funding round on record. Radar profile fliarbi.com/company/icubeswire/2gsxrvzwjx/ 6. mFilterIt 9-yr profit streak Gurugram · founded 2015 · files as Six Dee Netad Solutions Pvt Ltd · standalone accounts Has recorded funding “Ad Traffic Validation & Ecommerce Intelligence Solutions” Provider of digital advertising traffic validation and brand safety software. This technology monitors advertising campaigns to identify invalid traffic and bot activity across web and mobile applications. It provides tools for tracking ad placements to ensure content alignment with safety guidelines. The platform includes features for monitoring affiliate and influencer marketing performance to verify audience authenticity. Additionally, it offers digital commerce intelligence for tracking product availability and pricing trends on retail platforms. The software suite assists in managing creative content compliance and protecting digital assets from unauthorized use or security risks. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 20.8 26.9 41.8 41.6 39.6 51.2 NET PROFIT 5.5 7.8 9.5 2.8 0.9 4.4 NET MARGIN 26.4% 29.1% 22.8% 6.7% 2.2% 8.6% NET PROFIT FY23–FY25 ₹8.1 cr REVENUE FY23→FY25 +23% Funding. 1 round on record, the latest a Seed round in 2016. Investors include 6D Technologies. Radar profile fliarbi.com/company/mfilterit/359c422ohe/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 11
files as 3Dot14 Mobitech Pvt Ltd · standalone accounts No funding on record “Mobile app user acquisition & retention platform with predictive algorithms” ML powered DSP and mobile app user acquisition platform. The platform leverages machine learning and creative technology to find users for the app, and serve suitable ads at relevant time. Its DSP integrates with ad exchanges to provide access to inventories. It runs AB testing on posts to target the relevant audience for the brand. Features include user targeting, fraud prevention, and real-time performance tracking. ₹ CRORE FY21 FY22 FY23 FY24 FY25 REVENUE 1.6 72.8 55.5 38.9 37.9 NET PROFIT 0.06 1.5 2.6 1.1 4.3 NET MARGIN 3.9% 2.0% 4.6% 2.7% 11.3% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹7.9 cr −32% Funding. No funding round on record. Radar profile fliarbi.com/company/3dot14/1b21rurx77/ 8. Escape Velocity 11-yr profit streak Hyderabad · founded 2014 · files as Escape Velocity Digital Pvt Ltd · standalone No funding on record accounts Platform offering campaign management software. It offers an ad server that helps to create, distribute, customize and optimize ad campaigns across screens. It provides various options for streamlined campaign management tools, creative authoring, and advanced creative optimization capabilities. Its product Sizmek ad suite provides control to the clients to engage audiences with impactful ads while centralizing cross channel insights to help campaign optimization. It helps clients to maintain ownership of the ad campaign data and derive insights from them. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 11.3 12.0 16.5 16.1 22.8 23.7 NET PROFIT 0.2 1.2 2.6 1.2 2.7 2.0 NET MARGIN 1.7% 9.8% 15.7% 7.4% 11.8% 8.4% NET PROFIT FY23–FY25 ₹5.9 cr REVENUE FY23→FY25 +47% Funding. No funding round on record. Radar profile fliarbi.com/company/escape-velocity/3p2zckj83h/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 12
· files as Momagic Technologies Pvt Ltd · consolidated accounts Has recorded funding “Data Science-Driven Tech Company in SE Asia Market” Provider of AI-driven mobile adtech and IoT platform solutions. It delivers solutions and services in marketing, analytics, and IoT solution development. The company helps to design, develop, and market products and services that leverage AI. It offers solutions for audience segmentation and targeting, user engagement, and traffic monetization. The company also provides hardware design to bring IoT devices to life and enhance user experience. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 38.0 38.8 85.6 116.2 117.4 122.0 NET PROFIT −8.3 −7.2 4.0 0.2 2.0 3.7 NET MARGIN -22.0% -18.6% 4.6% 0.2% 1.7% 3.1% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹5.9 cr +5% Funding. 2 rounds on record, the latest a Series A round in 2015. US$476 thousand disclosed in total. Investors include MediaTek, Smarthead, FIH, Wonderful Stars. Radar profile fliarbi.com/company/momagic-technologies/2es3tvawcy/ 10. GreedyGame Media 4-yr profit streak Bengaluru · founded 2013 · files as Greedygame Media Pvt Ltd · consolidated Has recorded funding accounts “GreedyGame - Democratizing the App Economy” Provider of all in one solutions for all app growth and app monetization requirement. It is a native advertising platform for mobile games and apps. It helps advertisers to deliver dynamic and native ads within mobile games. It allows developers to monetize their in-game assets and apps. It leverages AI to scale the app revenue. The platform offers various solutions for monetization, advertisers, and publishers. ₹ CRORE FY22 FY23 FY24 FY25 REVENUE 133.3 142.2 94.6 80.1 NET PROFIT 3.4 2.1 1.1 0.8 NET MARGIN 2.5% 1.5% 1.2% 1.0% NET PROFIT FY23–FY25 ₹4.1 cr REVENUE FY23→FY25 −44% Funding. 4 rounds on record, the latest a Angel round in 2020. US$1.3 million disclosed in total. Investors include Brand Capital, TLabs, Ankit Nagori, Anuj Choudhary. Radar profile fliarbi.com/company/greedygame-media/2tplyzu8cc/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 13
files as Veniso Solutions Pvt Ltd · standalone accounts No funding on record “Technology based traditional services with industry leading standards” Provider of mobile based technology solutions for publishers. Products include Mtruss, in-app payment platform for game publishers; Admofi, advertising platform for publishers to effectively monetize mobile inventory. It is a mobile ad management/mediation platform integrated with 15+ ad networks supporting several ad types. Also offers Aptifun, a white labelled application store infrastructure for the mobile. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 5.5 6.5 7.2 5.5 6.1 8.6 NET PROFIT 1.3 1.8 2.1 0.8 0.8 1.0 NET MARGIN 23.7% 27.5% 29.3% 14.8% 12.7% 12.1% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹2.6 cr +56% Funding. No funding round on record. Radar profile fliarbi.com/company/veniso/2m3j2jjqgz/ 12. Airtory 8-yr profit streak Bengaluru · founded 2016 · files as Airtory Interactive Pvt Ltd · standalone Has recorded funding accounts Developer of a digital advertising platform designed to incorporate augmented reality and virtual reality into digital advertisements. The company's platform offers a toolkit for mobile performance marketers to create interactive experiences that deliver click-through rates, interaction rates, brand recall, and purchase intent, enabling advertisers to build and deploy interactive engaging advertisement experiences within a short turnaround time, without any coding or engineering overhead. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 1.2 1.7 3.0 4.6 5.6 5.6 NET PROFIT 0.05 0.08 0.3 0.5 0.8 0.3 NET MARGIN 3.8% 4.9% 8.8% 10.9% 14.7% 5.6% NET PROFIT FY23–FY25 ₹1.6 cr REVENUE FY23→FY25 +21% Funding. 1 round on record, the latest a Angel round in 2016. US$36 thousand disclosed in total. Investors include Surojit Niyogi. Radar profile fliarbi.com/company/airtory/168gmt0dp0/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 14
files as Aduclick Business Services Pvt Ltd · standalone accounts No funding on record “AduClick - Programmatic Media Advertising Solution” Platform offering ad network solution. It enables users to advertise the ads by leveraging the first and thirdparty data and connects them with the targeted audience. It provides publishers with a supply-side monetization solution to convert the audience and generate revenue. Its offerings include fraud detection tools, DSP, monetization solutions, etc. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 4.2 8.8 6.2 21.6 10.0 5.9 NET PROFIT 0.2 0.6 0.07 0.6 0.6 0.1 NET MARGIN 3.9% 6.3% 1.1% 2.9% 6.2% 2.4% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹1.4 cr −73% Funding. No funding round on record. Radar profile fliarbi.com/company/aduclick/ashjhki3p4/ 14. Vaizle 11-yr profit streak No funding on record Chandigarh · founded 2015 · files as Xor Labs Pvt Ltd · standalone accounts “Vaizle: Social media analytics tool for actionable insights” Provider of an AI agent for Meta ads analysis and optimization. The agent offers reporting, interactive graphs, charts, and tables for ad insights. It features a natural-language interface, contextual recommendations, and quick plan generation. The AI tool conducts in-depth analysis to understand the reasons behind ad performance. It provides automated reporting, trend forecasting, and instant optimization tips. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 0.5 0.6 1.3 2.0 4.1 5.3 NET PROFIT 0.01 0.01 0.1 0.2 0.5 0.6 NET MARGIN 2.5% 2.2% 9.0% 11.6% 11.5% 11.7% NET PROFIT FY23–FY25 ₹1.3 cr REVENUE FY23→FY25 +167% Funding. No funding round on record. Radar profile fliarbi.com/company/vaizle/18f65n07pl/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 15
files as Collectcent Digital Media Pvt Ltd · standalone accounts Has recorded funding “Programmatic Supply Platform” Mobile based ad networking platform for publishers. It helps advertisers acquire engaging users through inapp, display, and video advertising. It works with direct publishers and advertisers on various pricing models, including CPM, CPI, and CPA. It provides digital advertising solutions via mobile, desktop, OTT, and in-app. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 72.2 45.8 51.4 57.1 52.6 51.4 NET PROFIT 0.7 0.4 0.7 0.5 0.4 0.4 NET MARGIN 0.9% 0.9% 1.4% 0.8% 0.8% 0.8% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹1.3 cr −10% Funding. 1 round on record, the latest a Seed round in 2015. US$142 thousand disclosed in total. Investors include Kalawa Solutions, Seebo Enterprise. Radar profile fliarbi.com/company/collectcent/ut7ey0vyhr/ 16. AD2Click 11-yr profit streak Noida · founded 2012 · files as Sgs Global Services Pvt Ltd · standalone accounts No funding on record “AD2Click Media manages a wide range of digital display, email and text ads for affiliate online marketing.” Ad2click runs affiliate marketing campaigns for advertisers including lead generation through online CPC, CPL, CPM and CPA campaigns on its own websites and through affiliates, email marketing and SMS marketing campaigns. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 9.1 5.7 14.3 18.2 8.6 8.4 NET PROFIT 0.3 0.2 0.6 0.7 0.10 0.1 NET MARGIN 3.2% 3.5% 4.2% 3.7% 1.1% 1.3% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹0.9 cr −54% Funding. No funding round on record. Radar profile fliarbi.com/company/ad2click/1qny8e1qo8/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 16
files as Kritter Software Technology Pvt Ltd · standalone accounts No funding on record “Kritter: A digital advertising technology company for ready-to-go ad trading stack and data management infrastructure.” Kritter is an adtech infrastructure enabler for digital advertising providing technology for DSP, SSP, ad components, adnetworks, Ad Exchange and DMP. Solutions primarily cater to ad agencies, publishers, adtech companies. Leverages big data and machine learning techniques to provide customizable solutions for enterprises. For publishers it offers supply side platform technology whos features include transparancy to data, single selling destination, self serving reporting tools, floor optimizer etc. For advertisers, it offers technology for DSP whos features include single buying destination, campaign management suite, multiple platform integration etc. Other products include customizable user data store to build an in-house Data Management Platform(DMP), on-location ad-exchange software as an extension to ad-server to enable sell side RTB, customizable ad-server enabling programmatic trade between direct advertiser and publishers and multiple ad components. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 2.1 2.4 3.7 4.6 6.7 6.9 NET PROFIT −0.06 0.03 0.3 0.3 0.08 0.1 NET MARGIN -2.8% 1.2% 7.2% 7.1% 1.2% 2.1% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹0.6 cr +51% Funding. No funding round on record. Radar profile fliarbi.com/company/kritter/4j857b6w5b/ 18. The Lead Sense 3-yr profit streak Chennai · founded 2014 · files as Leadsense Media India Pvt Ltd · standalone No funding on record accounts “Digital marketing agency providing a wide range of services to help businesses grow.” Lead Sense provides an advertising exchange. The platform is used by advertisers and publishers to carry out advertising campaigns and to monetize their advertising inventory. The company provides a real-time marketplace to buy and sell display advertising space with transparency. The campaigns that can be carried out include popup, banner, email, preroll, in-app, native, and several others. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 0.9 0.5 — 2.1 4.4 5.3 NET PROFIT −0.01 −0.05 — 0.02 0.2 0.09 NET MARGIN -1.3% -9.7% — 1.0% 4.6% 1.6% NET PROFIT FY23–FY25 REVENUE FY23→FY25 ₹0.3 cr +152% Funding. No funding round on record. Radar profile fliarbi.com/company/the-lead-sense/3kubm3xhze/ Radar by Fliar · Adtech Companies in India Making Consistent Profits 17
files as Opicle Technologies Pvt Ltd · standalone accounts No funding on record Opicle is an online affiliate advertising network for advertisers and publishers. Features for publishers include live reporting and 24/7 Support. Features for advertisers include intelligent tracking and fraud management. ₹ CRORE FY20 FY21 FY22 FY23 FY24 FY25 REVENUE 19.8 11.5 16.8 11.3 7.0 15.7 NET PROFIT 0.3 0.3 0.5 0.08 0.03 0.1 NET MARGIN 1.4% 2.5% 2.8% 0.7% 0.5% 0.7% NET PROFIT FY23–FY25 ₹0.2 cr REVENUE FY23→FY25 +39% Funding. No funding round on record. Radar profile fliarbi.com/company/opicle/iqodkmmaez/ METHOD How this brief was built Universe. 431 independent adtech companies in India tracked by Radar. Companies that have been acquired or shut down are excluded from the list and the company statistics; they are included in the survival analysis, which covers every company ever tracked. Financials. Annual accounts on record for the company's own legal entity. 102 of the 431 have accounts on record that passed the checks below; 74 of those reach FY25. Consolidated accounts are used where they cover the whole period because they describe the whole group; otherwise standalone accounts are used. The two are never mixed for one company. Attribution. Accounts filed by a parent or group entity are not credited to a brand. Where several brands resolve to one legal entity, it is counted once. A filer whose registration shows it was set up well before the brand existed, or whose name differs from the brand and whose registration year does not fit the brand's founding, is held out until checked. Cross-check. For 76 companies the filed revenue and the sign of the filed profit were compared against Radar's separately held company record for the same year; 10 companies that failed a check were held out of the list. Funding. A company counts as funded if any round appears in Radar's funding records, whether or not the amount was disclosed. Amounts shown are the disclosed ones. Industry statistics. Size bands, cities and segments use companies with FY25 accounts. Segments use Radar's own business-category labels and can overlap. “Shut down” and “acquired” are the statuses recorded in Radar's data. Descriptions. Company descriptions are the text on record for each company. Dated self-reported claims from earlier years are left out. Limits. This is a screen of filed accounts, not investment advice. Companies without accounts on record cannot be assessed and are not on the list, which does not mean they are unprofitable. Figures are as filed and not restated. Radar by Fliar · Adtech Companies in India Making Consistent Profits 18
list with you See the full list of adtech companies in India Radar tracks revenue, funding, founders, investors, hiring and live business signals for companies across India and the world. Filter by sector and city, then export the list. Open the full list on Radar → fliarbi.com/companies/best-adtech-companies-in-india/ Radar is a product of Fliar. fliarbi.com/radar · Data as of October 2026. Radar by Fliar · Adtech Companies in India Making Consistent Profits 19
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