Finkurve Fin. Q1 FY27 Results (NSE: FINKURVE)
Signal: Earnings grew
The read
The key inflection is continued lending-led scale-up, with total income at ₹7,582.18 lakh, +89.4% YoY, but earnings conversion weakened as finance costs rose 277.5% and employee costs rose 239.6%; PAT still grew 65.8% to ₹843.81 lakh, while EPS growth of 31.6% materially lagged PAT.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹75.82 Cr | +89.4% | +16.3% |
| Net profit | ₹8.44 Cr | +65.8% | |
| EPS | ₹0.5 | +31.6% | |
| EBIT margin | 0% |
P&L walk
Total income rose to ₹7,582.18 lakh, +89.4% YoY and +16.3% QoQ, led by interest income of ₹7,478.68 lakh, while finance costs rose 277.5% YoY and PAT increased 65.8% to ₹843.81 lakh.
Key positives
- Total income reached ₹7,582.18 lakh, +89.4% YoY and +16.3% QoQ, with interest income at ₹7,478.68 lakh, +181.7% YoY.
- Co-lending performance remained strong: ₹44.23 crore cumulative disbursement, ₹37.86 crore outstanding and only ₹0.01 crore net NPA as of June 30, 2026.
- Reported asset quality was contained at 0.54% GNPA and 0.48% NNPA, with CRAR of 26.63%.
- PAT increased 65.8% YoY to ₹843.81 lakh despite finance-cost growth of 277.5% YoY.
Key concerns
- Finance costs rose to ₹2,672.31 lakh, +277.5% YoY and +34.4% QoQ, materially outpacing total-income growth of 89.4% YoY.
- Employee benefits expense increased 239.6% YoY to ₹1,347.08 lakh, indicating substantial cost growth alongside the lending expansion.
- Basic EPS rose only 31.6% YoY to ₹0.50 versus PAT growth of 65.8%, indicating dilution or a higher share base that reduces per-share earnings conversion.
- Provision Coverage Ratio was only 10.45%, leaving a relatively limited disclosed buffer against deterioration in loan losses.
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