Please find enclosed Press Release - Q3 FY26 reports steady consolidated profitability, Supported by iServeU Performance, NBFC operations and cost discipline
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Niyogin Fintech reported steady consolidated profitability for Q3 FY26 (quarter ended Dec 31, 2025). Its iServeU subsidiary posted net revenue of Rs. 21.2 Cr, up 23.5% QoQ, with a healthy order book of Rs. 635 Cr across 43 contracts and 17 new program management partners added. The NBFC arm turned profitable with PBT (ex-ESOP) of Rs. 1.6 Cr, net revenue of Rs. 7.4 Cr, AUM of Rs. 314 Cr (89% via partnerships), and quarterly disbursements of Rs. 120 Cr. The company raised Rs. 40 Cr during the quarter to strengthen liquidity, and debt-to-equity remains below 1.0. Management noted Q3 was partly supported by an RBI subsidy under the PIDF scheme. The company has received SEBI's NOC for its proposed demerger and is awaiting RBI approval before moving to NCLT.
Positive for shareholders — both core businesses delivered sustained profitability, iServeU shows strong growth momentum with a robust order book, and the balance sheet remains conservative. Near-term growth may face some moderation as the RBI subsidy tapers, but the demerger approval pipeline remains a key catalyst to watch.