Indbank Merchant Banking Services Q3FY26 Results: Profit Surges 63% YoY
Indbank Merchant Banking Services delivered impressive Q3FY26 results with profit jumping 63% to ₹191.66 lakhs and revenue growing 11% to ₹625.23 lakhs, driven by strong fees and commission income of ₹449.60 lakhs and improved expense management. However, nine-month performance showed revenue declining 10.47% to ₹1,921.79 lakhs and profit falling 19.31% to ₹591.11 lakhs compared to the previous year.
*this image is generated using AI for illustrative purposes only.
Indbank Merchant Banking Services Limited, a subsidiary of Indian Bank, has announced its unaudited financial results for Q3FY26 ended December 31, 2025, showcasing a remarkable turnaround with strong profit growth and improved operational performance.
Strong Q3FY26 Performance
The company delivered impressive financial results for Q3FY26, marking a significant improvement from the previous year:
| Particulars | Q3FY26 | Q3FY25 | YoY Change |
|---|---|---|---|
| Total Revenue from Operations | ₹625.23 lakhs | ₹563.48 lakhs | +10.95% |
| Profit | ₹191.66 lakhs | ₹117.39 lakhs | +63.27% |
| Earnings Per Share | ₹0.43 | ₹0.26 | +65.38% |
| Total Comprehensive Income | ₹187.14 lakhs | ₹114.02 lakhs | +64.11% |
Nine-Month Performance Analysis
For the nine-month period ended December 31, 2025, the company's performance showed mixed results compared to the previous year:
| Particulars | 9M FY26 | 9M FY25 | YoY Change |
|---|---|---|---|
| Total Revenue from Operations | ₹1,921.79 lakhs | ₹2,146.54 lakhs | -10.47% |
| Profit | ₹591.11 lakhs | ₹732.54 lakhs | -19.31% |
| Earnings Per Share | ₹1.33 | ₹1.65 | -19.39% |
Revenue Stream Breakdown
The company's diversified revenue streams for Q3FY26 demonstrated stability across key segments:
| Revenue Source | Q3FY26 Amount (₹ lakhs) |
|---|---|
| Fees and Commission Income | 449.60 |
| Interest Income | 164.36 |
| Net Gain on Fair Value Changes | 7.50 |
| Rental Income | 3.75 |
| Dividend Income | 0.02 |
Fees and commission income remained the primary revenue driver, contributing over 71% of total operational revenue, while interest income provided substantial support at ₹164.36 lakhs.
Expense Management and Profitability
The company maintained disciplined expense management during Q3FY26:
| Expense Category | Q3FY26 (₹ lakhs) | Q3FY25 (₹ lakhs) |
|---|---|---|
| Total Expenses | 367.09 | 375.70 |
| Employee Benefits | 202.50 | 220.22 |
| Other Expenses | 109.84 | 91.77 |
| Fees and Commission Expense | 36.19 | 35.64 |
Employee benefit expenses decreased to ₹202.50 lakhs from ₹220.22 lakhs in the corresponding quarter last year, contributing to improved profitability margins.
Board Approval and Audit Updates
The Board of Directors approved these unaudited financial results at their meeting held on January 14, 2026. The results have been reviewed by the Audit Committee and received an unmodified opinion from the statutory auditors, M/s. Anand & Ponnappan, Chartered Accountants, who were appointed as the new statutory auditors for the financial year.
The company continues to operate as a single segment entity under Indian Accounting Standards, focusing on merchant banking and related financial services as a subsidiary of Indian Bank.
Historical Stock Returns for Indbank Merchant Banking
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.60% | -0.34% | +8.41% | +11.56% | -11.75% | +212.92% |
19
