Piramal Finance lifts Q2 net profit 67% on core income growth
Non-bank lender Piramal Finance posted a 67% profit jump to 545 crore rupees for the September quarter, helped by stronger core income and lower costs.
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what happened
According to Moody's, Piramal Finance reported on Monday a 67% rise in net profit to 545 crore rupees for the September quarter. Core net interest income climbed 35% to 1,530 crore rupees, supported by 24% growth in assets under management and a net margin expansion to 6.5%. The cost-to-income ratio fell to 52.1% from 61.2%.
Chief Executive Jairam Sridharan said the company expects to widen net interest margins by up to 0.20 percentage points over the next year, citing a recent rating upgrade that should lower borrowing costs over two to three years. The gross non-performing assets ratio held at 2.4%. The shares closed 0.08% lower at 1,948.05 rupees on the BSE.
why it matters
The results suggest Indian non-bank lenders can protect margins even as rates rise, which matters for investors in the NBFC sector. Early loan repayments and weak realty demand, however, are holding back portfolio growth.
market impact
Indian NBFC sector: strong profit and margins support sector valuations
tags
instruments
sources
- Piramal Finance Q2 net profit surges 67% to ₹545 crore on core income growth; guides towards NIM expansion — Moody's, 19 October 2026 at 16:40 UTC
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