Tata Capital Q2 FY27 Results: Consolidated Net Profit ₹1,832 Crore on Total Income of ₹9,356 Crore
Earnings
Financial services (lending)
Blacklitt Research3 min read
Tata Capital (NSE: TATACAP) reported consolidated total income of ₹9,356.11 crore and net profit of ₹1,831.88 crore for the quarter ended 30 Sep 2026, it said in a filing on 27 Oct 2026. Standalone total income was ₹6,724.14 crore and net profit ₹1,143.26 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹9,356.11 crore, up 20.7% YoY and 6.0% QoQ
Net profit: ₹1,831.88 crore, up 63.7% YoY and 12.5% QoQ
EPS: ₹3.91 basic, against ₹2.73 a year earlier
Finance costs: ₹4,680.01 crore, up 17.7% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹6,724.14 crore, up 20.2% YoY and 6.1% QoQ
Net profit: ₹1,143.26 crore, up 73.1% YoY and 14.4% QoQ
EPS: ₹2.10 basic, against ₹1.64 a year earlier
Finance costs: ₹3,261.77 crore, up 19.0% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
9,356.11
7,749.27
+20.7%
8,825.38
+6.0%
Revenue from operations
9,341.81
7,738.96
+20.7%
8,821.93
+5.9%
Other income
14.30
10.31
+38.7%
3.45
+314.5%
1,831.88
1,118.97
+63.7%
1,628.18
+12.5%
Profit before tax
2,383.57
1,507.02
+58.2%
2,159.12
+10.4%
Finance costs
4,680.01
3,975.58
+17.7%
4,369.91
+7.1%
Depreciation
165.43
135.21
+22.4%
154.33
+7.2%
Tax expense
551.69
388.05
+42.2%
530.94
+3.9%
Net profit margin
19.58%
14.44%
+5.14 pp
18.45%
+1.13 pp
EPS, basic (₹)
3.91
2.73
+43.2%
3.65
+7.1%
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 grew faster than total income. Consolidated net profit rose 63.7% YoY while total income rose 20.7%, and profit before tax rose 58.2%. Tax expense rose 42.2%, so the gap between profit before tax and net profit widened less than the profit growth itself.
Other income of ₹14.30 crore is 0.2% of total income and 0.6% of profit before tax, so the quarter's result rests mainly on lending income rather than on other income.
Profit attributable to owners of the company was ₹1,659.87 crore, against ₹1,097.32 crore a year earlier, and the difference from total net profit is the non-controlling interest of ₹172.01 crore. The notes do not give the reason for the increase in finance costs or in impairment charges.
The notes say the company agreed on 13 Jul 2026 to acquire about 88.6% of Yogakshemam Loans Limited, a gold loan business, and that regulatory approvals have been applied for and are awaited. The filing does not give the consideration or the expected completion date.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
6,724.14
5,592.12
+20.2%
6,336.96
+6.1%
Revenue from operations
6,710.47
5,584.16
+20.2%
6,334.12
+5.9%
Other income
13.67
7.96
+71.7%
2.84
+381.3%
1,143.26
660.61
+73.1%
999.44
+14.4%
Profit before tax
1,516.22
893.31
+69.7%
1,342.89
+12.9%
Finance costs
3,261.77
2,741.83
+19.0%
3,017.36
+8.1%
Depreciation
152.48
121.59
+25.4%
141.56
+7.7%
Tax expense
372.96
232.70
+60.3%
343.45
+8.6%
Net profit margin
17.00%
11.81%
+5.19 pp
15.77%
+1.23 pp
EPS, basic (₹)
2.10
1.64
+28.0%
2.35
-10.6%
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.
Standalone net profit rose 73.1% YoY, faster than total income at 20.2% and profit before tax at 69.7%. Standalone net profit of ₹1,143.26 crore is ₹688.62 crore below consolidated net profit, a gap the filing does not explain line by line.
Standalone finance costs of ₹3,261.77 crore are 48.5% of total income this quarter. Standalone tax expense of ₹372.96 crore is 24.6% of profit before tax, and other income of ₹13.67 crore is 0.9% of profit before tax.
Standalone net worth was ₹40,004.11 crore at 30 Sep 2026, and the capital adequacy ratio was 17.28%. Gross non-performing assets were 2.40% and net non-performing assets 1.01% of the loan book on the filing's ratio definitions.
Inference
The filing reports that the Board approved an increase in the medium term note programme from USD 2 billion to USD 3 billion, with bond issues subject to market conditions and approvals. It also reports that Non-convertible debentures of ₹3,435 crore on private placement were redeemed between 1 Apr 2026 and 30 Sep 2026, and that the IPO fresh-issue proceeds of ₹6,696.60 crore for augmenting the Tier-I capital base are fully utilised.
The company's debt equity ratio was 5.49 times on a consolidated basis and 4.52 times standalone. A final dividend of ₹0.57 per share for FY2025-26 was approved at the AGM on 19 Aug 2026 and paid on 20 Aug 2026. The filing does not say how the Yogakshemam Loans acquisition would be financed or when it would close.
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