Q2 FY27 profit rises as growth rebounds, but margins face pressure
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On the reaction day the stock moved 3.9 pts less than Nifty Smallcap 250 and 5.5 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Disbursements were Rs 2,078 crore, up 74% year on year, and assets under management reached Rs 14,640 crore, up 14%. Profit after tax was Rs 299 crore, including a Rs 19 crore one-time tax benefit. Collections improved and loans over 30 days past due fell to 11.5%, while Stage-3 assets held at 3.48%. Net interest margin was 19.87%. Management expects funding costs to rise and margins to compress, but remains confident of exceeding annual growth guidance.
Strong growth and collections support earnings, but higher funding costs and expected margin compression may limit near-term gains.