Greencrest Financial Services profit falls 28% to Rs 1.40 crore

Greencrest Financial Services Limited reported profit of Rs 1.40 crore for the six months ended September 30, 2026, down 28% from Rs 1.96 crore a year earlier, as revenue from sale of shares fell to Rs 3.91 crore from Rs 6.81 crore despite interest income rising to Rs 3.64 crore.

Why did Greencrest Financial Services’ first-half profit fall?

Greencrest Financial Services’ first-half profit fell because the reduction in revenue from sale of shares exceeded the rise in interest income. Total income for the six months ended September 30, 2026 declined to Rs 8.04 crore from Rs 11.03 crore in the corresponding six months of 2025, while profit before tax decreased to Rs 1.88 crore from Rs 2.61 crore.

Revenue from sale of shares was Rs 3.91 crore in the latest half year, compared with Rs 6.81 crore a year before, a reduction of Rs 2.90 crore. Interest income, in contrast, rose to Rs 3.64 crore from Rs 3.39 crore. Gains from trading in shares and the futures and options, or FNO, segment also declined to Rs 44.92 lakh from Rs 80.90 lakh, while dividend income fell to Rs 1.36 lakh from Rs 2.46 lakh.

The reported tax expense declined to Rs 47.41 lakh from Rs 65.80 lakh, alongside the lower pre-tax result. However, that decrease did not offset the decline in income: profit after tax was Rs 1.40 crore, versus Rs 1.96 crore in the prior-year half. Basic and diluted earnings per share were Rs 0.04, compared with Rs 0.05 for the six months ended September 30, 2025.

How did Greencrest Financial Services perform in the September quarter?

Greencrest Financial Services reported profit of Rs 54.33 lakh in the quarter ended September 30, 2026, down from Rs 85.77 lakh in the preceding June 2026 quarter and Rs 1.03 crore in the September 2025 quarter. Total income was Rs 1.52 crore, compared with Rs 6.52 crore in the immediately preceding quarter and Rs 5.65 crore a year earlier.

The quarter contained no revenue from sale of shares, while the June 2026 quarter recorded Rs 3.91 crore and the September 2025 quarter recorded Rs 3.76 crore. Interest income was Rs 1.74 crore in the September 2026 quarter, below Rs 1.90 crore in June but above Rs 1.85 crore a year earlier. The company also recorded a Rs 22.26 lakh loss from trading in shares and the FNO segment, compared with a Rs 67.18 lakh gain in the preceding quarter.

Finance costs rose to Rs 1.44 crore during the September 2026 quarter from Rs 85.00 lakh in June and Rs 73.25 lakh a year earlier. Total expenses were Rs 76.30 lakh, compared with Rs 5.40 crore in June and Rs 4.27 crore in the September 2025 quarter. Changes in inventories reduced expenses by Rs 86.96 lakh in the latest quarter, whereas the June quarter included a Rs 3.10 crore expense under that line.

Which revenue streams changed for Greencrest Financial Services?

Greencrest Financial Services’ revenue mix shifted toward interest income in the six months ended September 30, 2026, because share-sale revenue fell to Rs 3.91 crore while interest income increased to Rs 3.64 crore. In the previous corresponding half year, revenue from sale of shares was Rs 6.81 crore and interest income was Rs 3.39 crore.

The change was most visible in the September quarter, when Greencrest Financial Services reported no share-sale revenue and total operating revenue of Rs 1.52 crore. That operating figure was below interest income of Rs 1.74 crore because the company reported a Rs 22.26 lakh loss from trading and FNO activities, alongside dividend income of Rs 72,000.

For the financial year ended March 31, 2026, Greencrest Financial Services had reported Rs 30.07 crore of revenue from sale of shares, Rs 7.24 crore of interest income and Rs 77.78 lakh of trading and FNO gains. The six-month filing does not provide a management forecast or target for these revenue sources, but it identifies lower revenue from sale of shares as the main change in the first-half income mix.

What do Greencrest Financial Services’ balance sheet and cash flow show?

Greencrest Financial Services reported total assets of Rs 140.13 crore at September 30, 2026, compared with Rs 107.87 crore at September 30, 2025. Loans and advances were Rs 111.10 crore, up from Rs 94.19 crore, while trade receivables rose to Rs 7.04 crore from Rs 94.22 lakh.

Total financial liabilities were Rs 82.04 crore at the latest half-year date, compared with Rs 49.05 crore a year earlier. Borrowings other than debt securities increased to Rs 53.63 crore from Rs 47.59 crore, and other financial liabilities were Rs 21.82 crore against nil in the comparative balance sheet. Total equity rose to Rs 58.09 crore from Rs 57.08 crore, including paid-up equity share capital of Rs 36.55 crore in both periods.

Net cash from operating activities was an outflow of Rs 6.35 crore in the six months ended September 30, 2026, compared with an outflow of Rs 6.44 crore a year earlier. An increase in loans and advances used Rs 4.86 crore of operating cash, while inventories generated Rs 2.23 crore through a reported decrease. Cash from investing activities was Rs 3.65 crore, mainly reflecting Rs 3.64 crore of interest income, and short-term borrowings added Rs 2.84 crore.

Cash and cash equivalents closed at Rs 19.24 lakh on September 30, 2026, compared with Rs 4.47 lakh on September 30, 2025. Greencrest Financial Services also stated that balances in trade payables, trade receivables, loans and advances and other financial liabilities remain subject to confirmation or reconciliation. Management said it does not expect material adjustments to the financial statements from that process.

How were Greencrest Financial Services’ results reviewed?

Greencrest Financial Services’ unaudited results were reviewed by its audit committee and approved by its board on November 12, 2026. The company said the statements were prepared under Indian Accounting Standard 34, or Ind AS 34, for interim financial reporting and the non-banking financial company format applicable under the Companies Act framework.

Greencrest Financial Services identifies a single operating segment, Finance & Investments, under Ind AS 108, so it did not provide a separate segment report for the quarter. Its statutory auditor, SGAJ & Associates, performed a limited review rather than a full audit. The auditor said that nothing had come to its attention to indicate that the results failed to provide required disclosures or contained a material misstatement.

Conclusion

Greencrest Financial Services’ six-month result reflects a lower contribution from share sales, with the Rs 2.90 crore year-on-year reduction in that revenue line exceeding the Rs 25.23 lakh increase in interest income. Total income fell by Rs 2.99 crore, profit before tax declined by Rs 73.95 lakh and reported profit after tax was lower by Rs 55.56 lakh.

The next reported period will show whether share-sale revenue resumes after recording nil in the September 2026 quarter, and how interest income develops after reaching Rs 3.64 crore in the first half. Investors can also watch the disclosed reconciliation of receivables, payables, loans and advances, and other financial liabilities, alongside movements in loans and advances of Rs 111.10 crore and borrowings of Rs 53.63 crore.