CreditAccess Grameen Q2 FY27 Results: Consolidated Net Profit ₹502 Crore on Total Income of ₹1,905 Crore
Earnings
Microfinance (NBFC)
Blacklitt Research3 min read
CreditAccess Grameen reported total income of ₹1,904.80 crore and net profit of ₹501.57 crore for the quarter ended 30 Sep 2026, on both a consolidated and a standalone basis. Net profit was ₹125.81 crore in the same quarter a year earlier.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,904.80 crore, up 26.2% YoY and 6.7% QoQ
Net profit: ₹501.57 crore, up 298.7% YoY and 1.7% QoQ
EPS: Basic ₹31.27, diluted not shown in table; not annualised
Finance costs: ₹553.04 crore, up 15.3% YoY, 29.0% of total income
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,904.80 crore, up 26.2% YoY and 6.7% QoQ
Net profit: ₹501.57 crore, up 298.7% YoY and 1.7% QoQ
EPS: Basic ₹31.27, not annualised
Finance costs: ₹553.04 crore, up 15.3% YoY, 29.0% of total income
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,904.80
1,509.02
+26.2%
1,784.41
+6.7%
Revenue from operations
1,903.74
1,508.35
+26.2%
1,783.49
+6.7%
Other income
1.06
0.67
+58.2%
0.92
+15.2%
501.57
125.81
+298.7%
493.39
+1.7%
Finance costs
553.04
479.52
+15.3%
550.05
+0.5%
Depreciation
16.66
15.80
+5.4%
16.21
+2.8%
Tax expense
169.38
43.35
+290.7%
166.64
+1.6%
Net profit margin
26.33%
8.34%
+17.99 pp
27.65%
-1.32 pp
Tax as share of profit before tax
25.2%
25.6%
-0.38 pp
25.2%
-0.00 pp
EPS, basic (₹)
31.27
7.87
+297.3%
30.79
+1.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose far faster than total income. Total income grew 26.2% year on year to ₹1,904.80 crore, while net profit rose from ₹125.81 crore to ₹501.57 crore, an increase of 298.7%. Profit before tax moved from ₹169.16 crore to ₹670.95 crore, and tax expense from ₹43.35 crore to ₹169.38 crore. Tax was 25.2% of profit before tax this quarter against 25.6% a year earlier, so the tax rate was broadly similar in the two quarters.
The base is low: the year-ago quarter carried a profit of ₹125.81 crore, and the filing's notes do not give a reason for the change in profit before tax. Finance costs rose 15.3% to ₹553.04 crore, which is 29.0% of total income. Other income of ₹1.06 crore is only 0.1% of total income, so the quarter's income comes almost entirely from revenue from operations of ₹1,903.74 crore. The consolidated net profit margin is 26.33%, against 8.34% a year earlier.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,904.80
1,509.02
+26.2%
1,784.41
+6.7%
Revenue from operations
1,903.74
1,508.35
+26.2%
1,783.49
+6.7%
Other income
1.06
0.67
+58.2%
0.92
+15.2%
501.57
125.81
+298.7%
493.39
+1.7%
Finance costs
553.04
479.52
+15.3%
550.05
+0.5%
Depreciation
16.66
15.80
+5.4%
16.21
+2.8%
Tax expense
169.38
43.35
+290.7%
166.64
+1.6%
Net profit margin
26.33%
8.34%
+17.99 pp
27.65%
-1.32 pp
Tax as share of profit before tax
25.2%
25.6%
-0.38 pp
25.2%
-0.00 pp
EPS, basic (₹)
31.27
7.87
+297.3%
30.79
+1.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone figures are the same as the consolidated ones for total income, revenue from operations, other income, finance costs, tax, net profit and EPS, so the subsidiary, CreditAccess India Foundation, adds no difference to these lines in this quarter. The standalone net profit margin is 26.33% and the EPS is ₹31.27.
The company operates in a single business segment, lending to borrowers, and a single geographical segment, domestic. The filing reports 2,58,646 equity shares allotted on exercise of employee stock options in the quarter. The subsidiary's interim financials were not reviewed by its auditors, and the auditors say they are not material to the Group. Walker Chandiok & Co LLP and Sundaram & Srinivasan gave limited review reports with unmodified conclusions.
Inference
The results show a much higher net profit than a year earlier on a broadly similar tax rate, with finance costs rising more slowly than total income. The half-year figures in the filing are net profit of ₹995.00 crore and profit before tax of ₹1,331.03 crore. Debt-equity was 2.86 and the total capital to risk-weighted assets ratio 26.90% at the half-year end. Secured non-convertible debentures are covered 1.11 times, and ₹725 crore of private placement debentures raised in June and September 2026 are reported as used for on-lending and general corporate purposes with no deviation. On a basic EPS of ₹31.27 and net profit of ₹501.57 crore, the implied share count is about 16.04 crore shares. The filing does not state a dividend, and it does not give the reason for the rise in profit; the effect of the proposed auditor change depends on shareholder approval, which the filing does not date.
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CREDITACCCreditAccess Grameen Ltd.
