Un-Audited Financial Results for the Quarter and Half year ended 30th September, 2025
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TCFC Finance Ltd reported mixed H1 FY26 results. Total revenue from operations fell to ₹480.58 lakhs vs ₹688.81 lakhs in H1 FY25, a drop of about 30%, mainly driven by a sharp swing in fair value changes (₹371.71 lakhs vs ₹497.30 lakhs) and lower interest income. Q2 FY26 alone posted a negative total revenue from operations of ₹(178.00) lakhs due to a ₹232.84 lakh loss on fair value changes. Despite this, PAT for H1 stood at ₹377.36 lakhs (vs ₹476.70 lakhs), helped by a deferred tax credit, with Q2 PAT at ₹203.26 lakhs. EPS for H1 was ₹3.60 vs ₹4.55, and operating cash flow turned negative at ₹(52.00) lakhs versus ₹58.60 lakhs last year. Auditor Desai Saksena & Associates issued an unqualified limited review report.
Shareholders should note a clear decline in revenue and profit versus the prior year, driven by volatile fair value gains on investments, which is the company's main business segment. The negative operating cash flow in H1 FY26 may concern income-focused investors, though the balance sheet remains strong with negligible debt and a healthy equity base.