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PTC India Financial Services Q2 FY26 results: net profit up 86.2% to ₹88.14 crore, revenue down 19.3%
PTC India Financial Services Limited reported consolidated revenue of ₹131.84 crore for Q2 FY26, down 19.3% from Q2 FY25, while net profit rose to ₹88.14 crore from ₹47.34 crore. Basic EPS was ₹1.37, compared with ₹0.74 in the year-ago quarter, and profit margin was 66.9% against 29.0%.
Key points
- Consolidated revenue was ₹131.84 crore in Q2 FY26, down 19.3% from ₹163.40 crore in Q2 FY25 and down 7.1% from ₹141.91 crore in Q1 FY26.
- Net profit was ₹88.14 crore in Q2 FY26, up 86.2% from ₹47.34 crore a year earlier but down 35.5% from ₹136.63 crore in Q1 FY26.
- Basic EPS was ₹1.37 in Q2 FY26, compared with ₹0.74 in Q2 FY25 and ₹2.13 in Q1 FY26.
- Profit before tax was ₹117.63 crore, up 85.5% from ₹63.41 crore in the year-ago quarter and down 19.6% from ₹146.31 crore in the previous quarter.
- H1 FY26 profit after tax was ₹224.77 crore, up 145.0% from ₹91.74 crore in H1 FY25, while revenue fell 15.7% to ₹273.75 crore.
How did PTC India Financial Services perform in Q2 FY26?
PTC India Financial Services reported consolidated revenue of ₹131.84 crore for Q2 FY26, down ₹31.56 crore, or 19.3%, from ₹163.40 crore in Q2 FY25. Revenue was also down ₹10.07 crore, or 7.1%, from ₹141.91 crore in Q1 FY26. Consolidated net profit was ₹88.14 crore, up ₹40.80 crore, or 86.2%, from ₹47.34 crore in the year-ago quarter, but down ₹48.49 crore, or 35.5%, from ₹136.63 crore in the previous quarter.
Profit before tax was ₹117.63 crore in Q2 FY26, against ₹63.41 crore in Q2 FY25 and ₹146.31 crore in Q1 FY26. Basic EPS was ₹1.37, compared with ₹0.74 a year earlier and ₹2.13 in Q1 FY26. Profit margin was 66.9%, against 29.0% in Q2 FY25 and 96.3% in Q1 FY26. On the standalone basis, revenue was ₹131.84 crore and PAT was ₹88.14 crore.
The reported quarter figures are consolidated. The same filing also gave standalone results, including standalone revenue of ₹131.84 crore and PAT of ₹88.14 crore for the quarter, with standalone revenue down 19.3% and PAT before the specified comparison of ₹47.34 crore.
| ₹ crore | Q2 FY26 | Q1 FY26 | Q2 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 131.84 | 141.91 | 163.40 | −19.3% | −7.1% |
| Other income | 0.02 | 0.33 | 0.01 | +100.0% | −93.9% |
| Total expenses | 14.23 | −4.07 | 100 | −85.8% | |
| Profit before tax | 117.63 | 146.31 | 63.41 | +85.5% | −19.6% |
| Tax | 29.49 | 9.68 | 16.07 | +83.5% | +204.6% |
| Net profit | 88.14 | 136.63 | 47.34 | +86.2% | −35.5% |
| EPS (₹) | 1.37 | 2.13 | 0.74 | +85.1% | −35.7% |
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 PTC India Financial Services' costs and profit?
Finance costs were the main reported cost-line change in Q2 FY26, falling ₹25.52 crore, or 30.7%, from ₹83.09 crore in Q2 FY25 to ₹57.57 crore. Employee cost rose ₹1.69 crore, or 38.8%, to ₹6.05 crore, depreciation increased ₹0.31 crore, or 19.7%, to ₹1.88 crore, and other expenses increased ₹0.25 crore, or 5.1%, to ₹5.20 crore.
Total expenses were ₹14.23 crore, down ₹85.77 crore, or 85.8%, from ₹100 crore in the year-ago quarter. Other income was ₹0.02 crore against ₹0.01 crore. There was no exceptional item. Tax expense was ₹29.49 crore, up ₹13.42 crore, or 83.5%, from ₹16.07 crore.
Against Q1 FY26, finance costs fell ₹7.77 crore, or 11.9%, to ₹57.57 crore, while employee cost rose ₹0.72 crore, or 13.5%, to ₹6.05 crore. Other income fell ₹0.31 crore, or 93.9%, to ₹0.02 crore, and tax rose ₹19.81 crore, or 204.6%, to ₹29.49 crore. The filing did not state a reason for these quarter-on-quarter changes.
| ₹ crore | Q2 FY26 | Q2 FY25 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 6.05 | 4.36 | +1.69 | +38.8% |
| Finance costs | 57.57 | 83.09 | −25.52 | −30.7% |
| Depreciation | 1.88 | 1.57 | +0.31 | +19.7% |
| Other expenses | 5.20 | 4.95 | +0.25 | +5.1% |
| Total expenses | 14.23 | 100 | −85.77 | −85.8% |
| Other income | 0.02 | 0.01 | +0.01 | +100.0% |
| Tax | 29.49 | 16.07 | +13.42 | +83.5% |
Source: Company's results filing (XBRL).
How did the first half of FY26 go?
For H1 FY26, consolidated revenue was ₹273.75 crore, down ₹50.87 crore, or 15.7%, from ₹324.62 crore in H1 FY25. Total income was ₹274.1 crore, down ₹50.54 crore, or 15.6%, from ₹324.64 crore.
H1 FY26 profit before tax was ₹263.94 crore, up ₹141.19 crore, or 115.0%, from ₹122.75 crore. PAT was ₹224.77 crore, up ₹133.03 crore, or 145.0%, from ₹91.74 crore, while EPS rose from ₹1.43 to ₹3.50. The investor presentation also reported H1 FY26 total income of ₹274.1 crore and PAT of ₹224.77 crore.
| ₹ crore | H1 FY26 | H1 FY25 | Change |
|---|---|---|---|
| Revenue from operations | 273.75 | 324.62 | −15.7% |
| Profit before tax | 263.94 | 122.75 | +115.0% |
| Net profit | 224.77 | 91.74 | +145.0% |
| EPS (₹) | 3.50 | 1.43 | +144.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹5,350.84 crore as on 30 September 2025, compared with ₹5,682.59 crore as on 31 March 2025. Total equity was ₹2,978.16 crore, compared with ₹2,754.32 crore at the previous balance sheet date, while cash and cash equivalents were ₹123.74 crore against ₹762.52 crore.
H1 FY26 operating cash flow was ₹1,166.21 crore, compared with ₹397.02 crore in H1 FY25. Investing cash flow was negative ₹1,083.45 crore, compared with positive ₹959.45 crore, and financing cash flow was negative ₹721.54 crore against negative ₹746.07 crore. Capital expenditure was ₹0.19 crore, compared with ₹0.22 crore, and closing cash was ₹841.24 crore in H1 FY25.
| ₹ crore | As of 30 September 2025 | As of 31 March 2025 |
|---|---|---|
| Total assets | 5,351 | 5,683 |
| Total equity | 2,978 | 2,754 |
| Cash and equivalents | 123.74 | 762.52 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY26 | H1 FY25 |
|---|---|---|
| Cash from operations | 1,166 | 397.02 |
| Cash from investing | −1,083 | 959.45 |
| Cash from financing | −721.54 | −746.07 |
| Capital expenditure | 0.19 | 0.22 |
Source: Company's results filing (XBRL).
How has PTC India Financial Services done over the last 8 quarters?
Revenue declined from ₹204.32 crore in Q3 FY24, the highest quarterly revenue in the supplied series, to ₹131.84 crore in Q2 FY26, the lowest. PAT moved from ₹13.85 crore in Q4 FY24, the lowest level, to a peak of ₹136.63 crore in Q1 FY26 before falling to ₹88.14 crore in Q2 FY26.
The latest reading shows revenue and profit both lower than in the preceding quarter, while the year-on-year profit comparison was higher. PAT rose year-on-year in each of the last four quarters. The supplied trend data did not include EBITDA or EBITDA-margin figures, so no quarterly margin peak or trough can be stated.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025. The company also filed an investors’ presentation for the same results on 23 October 2025. The same-day presentation noted that three independent directors resigned on 26 September 2025 and that Mini Ipe was appointed, with additional appointments of independent directors underway.
The presentation also reported gross Stage III of ₹193 crore in Q2 FY26, compared with ₹764 crore in Q2 FY25, and stated that provision coverage for Stage III assets was 76% in Q2 FY26, compared with 62% in Q1 FY26. No dividend, fund raise or further appointment was stated in the same-day filing excerpts.
What did PTC India Financial Services' management say?
Management said the Q2 disbursement shortfall was deferred rather than cancelled and attributed it to lower power-sector and construction demand following a better-than-normal monsoon in late August and September. It said the company was focused on sound credit quality, operational efficiency, customer-centric structuring solutions, granular lending and diversification into SME and private-sector lending.
How did PTC India Financial Services shares react?
The stock moved after the filing. From the previous close, it was up 11.5% on the reaction day, up 8.6% by the next day’s close and up 4.1% by the fifth session’s close. From the price when the filing appeared, the stock was up 8.0% after 5 minutes, 6.5% after 15 minutes and 8.1% after 30 minutes.
The NBFC industry median was unchanged on the reaction day, down 0.2% by the next day’s close and down 0.4% by the fifth session’s close. PTC India Financial Services’ excess performance over the industry median was 11.5 percentage points on the reaction day, 8.9 percentage points by the next day’s close and 4.5 percentage points by the fifth session’s close. Past results-day moves were positive on 30 July 2025, 10 May 2025, 28 January 2025, 28 October 2024 and 30 July 2024, and negative on 30 May 2024.
| After the filing | Stock | Non Banking Financial Company (NBFC) median |
|---|---|---|
| 5 minutes | +8.0% | |
| 15 minutes | +6.5% | |
| 30 minutes | +8.1% | |
| Reaction day | +11.5% | +0.0% |
| Next day | +8.6% | −0.2% |
| 5 days | +4.1% | −0.4% |
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 |
|---|---|
| 30 July 2025 | +0.9% |
| 10 May 2025 | +7.8% |
| 28 January 2025 | +8.8% |
| 28 October 2024 | +2.3% |
| 30 July 2024 | +1.6% |
| 30 May 2024 | −0.8% |
Source: MarketPing price-reaction measurement.
How did other Non Banking Financial Company (NBFC) companies do?
Among 228 NBFC peers compared, the median revenue growth was 6.2%. PTC India Financial Services’ revenue growth was below the peer median, with 76 peers growing slower than the company and 152 growing faster than the company. Of 257 peers for which profit was compared, 127 reported higher profit.
| PTC India Financial Services revenue growth (YoY) | −19.3% |
|---|---|
| Median of 228 other Non Banking Financial Company (NBFC) companies | +6.2% |
| Companies with slower revenue growth than PTC India Financial Services | 76 of 228 |
| Companies with faster revenue growth than PTC India Financial Services | 152 of 228 |
| Companies whose net profit rose | 127 of 257 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was PTC India Financial Services' revenue in Q2 FY26?
Revenue from operations was ₹131.84 crore, down 19.3% from ₹163.40 crore in Q2 FY25 (consolidated).
Did PTC India Financial Services make a profit in Q2 FY26?
Yes. Net profit was ₹88.14 crore, against a net profit of ₹47.34 crore in Q2 FY25.
What was PTC India Financial Services' EPS in Q2 FY26?
Basic earnings per share were ₹1.37, against ₹0.74 in Q2 FY25.
How did PTC India Financial Services shares react to the Q2 FY26 results?
On the reaction day the stock moved +11.5% from the previous close; the median Non Banking Financial Company (NBFC) stock moved +0.0%.
When did PTC India Financial Services announce its Q2 FY26 results?
On 23 October 2025, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 23 October 2025) · PDF
- The earnings call (27 October 2025)
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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