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Fusion Finance Q2 FY27 results: net profit ₹86.48 crore vs ₹22.14 crore loss, revenue up 16.8%
Fusion Finance Limited reported standalone revenue of ₹485.61 crore and a net profit of ₹86.48 crore for Q2 FY27, compared with revenue of ₹415.79 crore and a net loss of ₹22.14 crore in Q2 FY26. In H1 FY27, revenue rose 10.0% to ₹943.78 crore and profit after tax turned positive at ₹148.89 crore.
Key points
- Q2 FY27 standalone revenue was ₹485.61 crore, up 16.8% from ₹415.79 crore in Q2 FY26 and 6.0% from ₹458.17 crore in Q1 FY27.
- Q2 FY27 profit before tax and net profit were ₹86.48 crore, compared with a net loss of ₹22.14 crore in Q2 FY26 and net profit of ₹62.41 crore in Q1 FY27.
- Basic EPS was ₹5.35 in Q2 FY27, against a loss of ₹1.69 in Q2 FY26 and ₹3.86 in Q1 FY27.
- H1 FY27 revenue was ₹943.78 crore, up 10.0% from ₹858.07 crore in H1 FY26, while net profit was ₹148.89 crore against a net loss of ₹114.39 crore.
- Total assets were ₹8,856.98 crore at 30 September 2026, compared with ₹8,294.80 crore at 31 March 2026, while cash and cash equivalents were ₹1,660.73 crore against ₹1,874.84 crore.
How did Fusion Finance perform in Q2 FY27?
Fusion Finance reported standalone revenue of ₹485.61 crore for Q2 FY27, up 16.8% from ₹415.79 crore in Q2 FY26 and 6.0% from ₹458.17 crore in Q1 FY27. Total income was ₹485.67 crore, against ₹432.69 crore a year earlier and ₹458.31 crore in the previous quarter. The company did not report an EBITDA or EBITDA margin for the quarter. The results are standalone; the board also approved the standalone unaudited results for the quarter and half year ended 30 September 2026.
Profit before tax was ₹86.48 crore in Q2 FY27, compared with a net loss of ₹22.14 crore in Q2 FY26 and profit before tax of ₹62.41 crore in Q1 FY27. Net profit was ₹86.48 crore in both comparison periods’ respective figures: a net loss of ₹22.14 crore in the year-ago quarter and net profit of ₹62.41 crore in the previous quarter. Basic EPS was ₹5.35, against a loss of ₹1.69 in Q2 FY26 and ₹3.86 in Q1 FY27. The profit margin was 17.8%, compared with a loss margin of 5.3% a year earlier and 13.6% in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 485.61 | 458.17 | 415.79 | +16.8% | +6.0% |
| Other income | 0.06 | 0.14 | 16.90 | −99.6% | −57.1% |
| Total expenses | 399.19 | 395.90 | 454.83 | −12.2% | +0.8% |
| Profit before tax | 86.48 | 62.41 | −22.14 | turned to profit | +38.6% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 86.48 | 62.41 | −22.14 | turned to profit | +38.6% |
| EPS (₹) | 5.35 | 3.86 | −1.69 | turned to profit | +38.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Fusion Finance's costs and profit?
Total expenses fell 12.2% to ₹399.19 crore from ₹454.83 crore in Q2 FY26, with lower depreciation of ₹1.76 crore against ₹2.49 crore and lower other expenses of ₹50.68 crore against ₹52.78 crore. Employee cost rose to ₹157.73 crore from ₹154.14 crore, while finance costs rose to ₹150.51 crore from ₹134.27 crore. The filing gives the cost movements but does not state reasons for them. Other income declined 99.6% to ₹0.06 crore from ₹16.90 crore, and there was no exceptional item. Tax was unchanged at ₹0 crore.
Against Q1 FY27, total expenses were higher by 0.8% at ₹399.19 crore versus ₹395.90 crore. Employee cost rose to ₹157.73 crore from ₹155.49 crore, finance costs to ₹150.51 crore from ₹149.84 crore and other expenses to ₹50.68 crore from ₹49.15 crore; depreciation was ₹1.76 crore against ₹1.74 crore. Other income fell to ₹0.06 crore from ₹0.14 crore, with no exceptional item and tax unchanged at ₹0 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 157.73 | 154.14 | +3.59 | +2.3% |
| Finance costs | 150.51 | 134.27 | +16.24 | +12.1% |
| Depreciation | 1.76 | 2.49 | −0.73 | −29.3% |
| Other expenses | 50.68 | 52.78 | −2.10 | −4.0% |
| Total expenses | 399.19 | 454.83 | −55.64 | −12.2% |
| Other income | 0.06 | 16.90 | −16.84 | −99.6% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Fusion Finance reported standalone revenue of ₹943.78 crore, up 10.0% from ₹858.07 crore in H1 FY26. Total income rose 7.5% to ₹943.98 crore from ₹878.26 crore. Profit before tax and net profit were ₹148.89 crore, compared with a net loss of ₹114.39 crore in H1 FY26, marking a return to profit.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 943.78 | 858.07 | +10.0% |
| Profit before tax | 148.89 | −114.39 | turned to profit |
| Net profit | 148.89 | −114.39 | turned to profit |
| EPS (₹) | 9.22 | −8.97 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
For H1 FY27, operating cash flow was negative ₹572.09 crore, compared with positive ₹1,111.74 crore in H1 FY26. Investing cash flow was ₹3.16 crore against ₹2.18 crore, financing cash flow was ₹354.82 crore against negative ₹1,087.08 crore, and capital expenditure was ₹0.52 crore against ₹0.93 crore. The available filing figures do not include closing cash for either cash-flow period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,857 | 8,295 |
| Total equity | 2,614 | 2,456 |
| Cash and equivalents | 1,661 | 1,875 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −572.09 | 1,112 |
| Cash from investing | 3.16 | 2.18 |
| Cash from financing | 354.82 | −1,087 |
| Capital expenditure | 0.52 | 0.93 |
Source: Company's results filing (XBRL).
How has Fusion Finance done over the last 8 quarters?
Fusion Finance’s revenue declined across the earlier quarterly sequence from ₹473.81 crore in Q3 FY25 to ₹415.79 crore in Q2 FY26, before rising to ₹416.44 crore in Q3 FY26, ₹424.02 crore in Q4 FY26, ₹458.17 crore in Q1 FY27 and ₹485.61 crore in Q2 FY27. Revenue therefore increased year on year in each of the last two quarters. The latest quarter was the highest revenue point in the reported series.
Loss after tax narrowed from ₹719.32 crore in Q3 FY25 to ₹164.56 crore in Q4 FY25, ₹92.25 crore in Q1 FY26 and ₹22.14 crore in Q2 FY26, before turning to profit of ₹14.05 crore in Q3 FY26. Profit then rose to ₹114.19 crore in Q4 FY26, eased to ₹62.41 crore in Q1 FY27 and increased to ₹86.48 crore in Q2 FY27. EBITDA margin figures were not provided for the trend periods.
What else did the company announce?
The board approved the standalone unaudited financial results for the quarter and half year ended 30 September 2026, along with the limited review report issued by B.K. Khare & Co., Chartered Accountants. The board meeting ran from 02:30 P.M. to 05:25 P.M. The company filed the investor presentation under Regulation 30 and the applicable listing disclosures. The same-day board filing also stated that MSME lending ticket size limits would be enhanced from ₹25 lakhs to ₹50 lakhs.
The company’s prior intimation said that the trading window for dealing in securities would reopen after 48 hours from the declaration of the standalone unaudited results. No dividend, fund raise or appointment was identified in the available same-day filings and excerpts.
What did Fusion Finance's management say?
Management said the next-generation LOS and LMS would be rolled out across the remaining branches in H2 FY27, with approximately 150 branches already covered. It also said the company planned to consolidate low-productivity branches and open approximately 50 new branches, while using the infrastructure of approximately 50 MFI branches for MSME distribution. Management said its AI capabilities would be built and owned by its own AI team on its own infrastructure.
Management said Fusion Mitra AI was targeted for full-scale deployment by mid-November, while Fusion Vaani was targeted to go live by end-November. The presentation also identified flood disruption across five states, lower sequential disbursements, geographic concentration and provisioning on impaired loans as watchpoints. Management said collections were prioritised during the floods and that disbursement had normalised to normal run rates.
Management said the presentation reflected profitability recovery, improving asset quality and collection efficiency, disciplined MFI growth and borrower deleveraging, MSME scaling through the branch network, branch consolidation and geographic expansion, and an AI-led technology transformation. The presentation reported NIM or spread at 12.52% and GNPA at 1.60%. No analyst questions or answers were provided in the available excerpts.
How did Fusion Finance shares react?
The filing appeared after market hours. From the price when it appeared, Fusion Finance’s shares were up 4.4% after 5 minutes, 3.4% after 15 minutes and 2.6% after 30 minutes. On the reaction day, the stock closed 9.5% above its pre-results close. The Finance industry median was unchanged on the reaction day.
By the next day’s close, the stock was up 15.4% from its pre-results close, against a 0.5% median move for the industry’s other stocks. Its excess move was 14.9 percentage points. Earlier reaction-day moves were positive on 10 August 2026 at 2.3%, 8 August 2025 at 3.8%, and negative on 15 May 2026 at 11.8%, 6 February 2026 at 2.5%, 4 November 2025 at 4.9%, 24 May 2025 at 2.4%, 12 February 2025 at 4.1% and 15 November 2024 at 5.0%.
| After the filing | Stock | Finance median |
|---|---|---|
| 5 minutes | +4.4% | |
| 15 minutes | +3.4% | |
| 30 minutes | +2.6% | |
| Reaction day | +9.5% | +0.0% |
| Next day | +15.4% | +0.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 10 August 2026 | +2.3% |
| 15 May 2026 | −11.8% |
| 6 February 2026 | −2.5% |
| 4 November 2025 | −4.9% |
| 8 August 2025 | +3.8% |
| 24 May 2025 | −2.4% |
| 12 February 2025 | −4.1% |
| 15 November 2024 | −5.0% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Fusion Finance's revenue in Q2 FY27?
Revenue from operations was ₹485.61 crore, up 16.8% from ₹415.79 crore in Q2 FY26 (standalone).
Did Fusion Finance make a profit in Q2 FY27?
Yes. Net profit was ₹86.48 crore, against a net loss of ₹22.14 crore in Q2 FY26.
What was Fusion Finance's EPS in Q2 FY27?
Basic earnings per share were ₹5.35, against a loss of ₹1.69 in Q2 FY26.
How did Fusion Finance shares react to the Q2 FY27 results?
On the reaction day the stock moved +9.5% from the previous close; the median Finance stock moved +0.0%.
When did Fusion Finance announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Prior Intimation Of The Board Meeting Under Regulation 29 And Regulation 50 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 2026) · PDF
- The investor presentation (2 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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