Finkurve Q2 profit rises 71% to ₹592 lakh, revenue up 51%

Finkurve Financial Services reported a 71% year-on-year increase in profit after tax to ₹591.89 lakh for the quarter ended September 30, 2025, driven by a significant rise in interest income. Revenue from operations grew 51% to ₹4,804.83 lakh compared to ₹3,190.18 lakh in the corresponding period of the previous year. For the half year ended September 30, 2025, the company recorded a profit of ₹1,101.00 lakh on total revenue of ₹8,792.68 lakh.

Financial Performance

The surge in revenue was primarily led by interest income, which climbed to ₹3,402.50 lakh in Q2FY25 from ₹1,876.07 lakh in Q2FY24. Fees and commission income also increased to ₹1,388.78 lakh from ₹1,314.11 lakh. Total expenses for the quarter rose to ₹4,074.89 lakh, with finance costs increasing to ₹835.76 lakh and impairment on financial instruments standing at ₹526.57 lakh.

Key Financial Metrics (Q2FY25)

Metric	Amount (₹ in Lakhs)
Total Revenue from Operations	4,804.83
Total Income	4,814.11
Total Expenses	4,074.89
Profit Before Tax	739.22
Profit for the Period	591.89
Basic EPS (INR)	0.42

Asset Quality and Ratios

As of September 30, 2025, the Gross Non-Performing Asset (GNPA) stood at ₹748.94 lakh, while Net Non-Performing Asset (NNPA) was ₹588.96 lakh. The Capital to risk-weighted assets ratio (CRAR) was reported at 47.13%, with Tier I CRAR at 46.89% and Tier II CRAR at 0.24%. The Net Worth of the company was recorded at ₹32,856.79 lakh.

Governance and Appointments

The Board of Directors, at its meeting held on November 13, 2025, approved the unaudited financial results for the quarter and half year ended September 30, 2025. Additionally, the Board appointed Mr. Naveen Kottala as the Chief Executive Officer and Key Managerial Personnel, effective November 18, 2025. The Board also reconstituted the Asset-Liability Committee and Risk Management Committee, with Mr. Naveen Kottala serving as Chairman for both committees.

Fund Utilization and Security Cover

The company confirmed that there was no deviation or variation in the use of proceeds from the Preferential Issue of Equity Shares and Share Warrants, which raised ₹141.50 crore in May 2025. Funds utilized for onward lending and investment stood at ₹111.50 crore. Furthermore, the statutory auditors certified that the company maintained an asset cover of 110% of the outstanding principal amount of Secured Redeemable Non-Convertible Debentures amounting to ₹7,000.00 lakh as of September 30, 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.39%	-7.67%	-3.35%	-36.35%	-42.07%	-42.07%

Finkurve Financial Services Limited has approved a proposal to raise ₹50 crore through the issuance of secured, redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The board meeting, held on June 25, 2026, sanctioned the issuance of 5,000 NCDs with a face value of ₹1,00,000 each, carrying a coupon rate of 11.55% per annum. The funds will be raised via the Electronic Bidding Platform (EBP) under the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, to ensure wider participation and transparent price discovery.

The debt instruments have a tenure of 33 months and 19 days, with a maturity date set for April 17, 2029. Interest payments will be made quarterly, commencing from September 28, 2026. The NCDs will be secured by a first-ranking, exclusive, and continuous charge on identified receivables by way of hypothecation in favor of the Debenture Trustee. The issue is proposed to be listed on BSE Limited, providing an exit route for investors.

Key Details of the Fundraising Proposal

Parameter	Details
Instrument	Non-Convertible Debentures (NCDs)
Aggregate Amount	₹50 crore
Face Value	₹1,00,000 per NCD
Issue Price	₹1,00,000 per NCD
Coupon Rate	11.55% per annum
Tenor	33 months and 19 days
Maturity Date	April 17, 2029
Mode of Issue	Private Placement via Electronic Bidding Platform (EBP)

In addition to the capital raising initiative, the board appointed two senior management personnel based on the recommendations of the Nomination & Remuneration Committee. Mr. Raju Bipinkumar Shah was appointed as the Chief Risk Officer (CRO) effective June 25, 2026, bringing over 21 years of experience in risk management and credit administration. Mr. Husain Mohammed Pittalwala was appointed as the Compliance Head, effective June 29, 2026, with expertise in regulatory compliance and corporate governance.

The regulatory filing was signed by Kajal Parmar, Company Secretary & Compliance Officer of Finkurve Financial Services Limited. The meeting was conducted in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.