Piramal Finance, the financial services entity of the Piramal Group, reported a 64.79% year-on-year increase in consolidated net profit attributable to owners of the company to ₹538.59 crore in the September quarter of the financial year 2026-27, compared with ₹326.83 crore in the corresponding quarter last year.
Consolidated revenue from operations rose 27.43% year on year to ₹3,659.19 crore from ₹2,871.55 crore. Total expenses increased 20.55% to ₹3,174.02 crore from ₹2,632.99 crore, according to the company’s unaudited financial results released on Monday (October 19).
The company’s press release reported net interest income of ₹1,530 crore for the September quarter, up 35% year on year from ₹1,132 crore. Pre-provision operating profit (PPOP) increased 64% to ₹846 crore from ₹515 crore in the corresponding quarter last year. PPOP is a measure of operating earnings before loan-loss provisions and fair-value losses or gains.
Assets under management (AUM) grew 24% year on year to ₹1,13,112 crore. Retail AUM increased 30% to ₹97,462 crore, while wholesale AUM rose 24% to ₹13,978 crore. Retail disbursements increased 34% to ₹14,646 crore during the quarter.
The company also reported a net income margin of 6.5%, an expansion of 35 basis points year on year. Its cost-to-income ratio declined to 52.1% from 61.2% in the September 2025 quarter. Gross non-performing assets stood at 2.4%, while net non-performing assets were at 1.7%.
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Sequential performance
On a quarter-on-quarter basis, consolidated net profit attributable to owners of the company increased 17.31% from ₹459.12 crore in the June 2026 quarter to ₹538.59 crore in the September quarter.
Revenue from operations rose 9.04% from ₹3,355.92 crore in the preceding quarter, while total expenses increased 3.28% from ₹3,073.07 crore to ₹3,174.02 crore.
Separately, Piramal Finance also completed an equity capital raise of ₹3,850 crore, comprising a qualified institutional placement of ₹2,100 crore and a preferential allotment of ₹1,750 crore of warrants to the promoter group.
Commenting on the performance, Anand Piramal, Chairman of Piramal Finance, said, “Q2 marks another quarter of consistent performance across growth, profitability and predictability, with our Growth AUM increasing 30% yoy.”
He added that the quarter marked five years since the merger with Dewan Housing Finance Corporation (DHFL), describing it as an important milestone in the company’s transformation into a diversified, retail-led financial institution serving around 6.5 million customers.
Piramal Finance also announced the appointment of Dinesh Kumar Khara, former Chairman of the State Bank of India, as an independent director for a five-year term.
Shares of the lender closed at ₹1,950 on October 19, down 0.015%, or ₹0.30, during the trading session. The stock has gained 18.61% year to date and 16.32% over the past six months. However, it has declined 2.25% over one week, 15.28% over one month and 9.12% over three months.