Raama Finance half-year profit rises to Rs 6.21 crore for September 2026

Raama Finance Limited reported standalone unaudited profit of Rs 6.21 crore for the half year ended September 30, 2026, up from Rs 12.23 lakh a year earlier, as profit before tax rose to Rs 8.46 crore. Raama Finance’s September-quarter profit, however, was Rs 1.86 crore, below Rs 4.36 crore in June.

How much did Raama Finance earn in the first half?

Raama Finance earned Rs 6.21 crore after tax in the half year ended September 30, 2026, compared with Rs 12.23 lakh in the corresponding half year ended September 30, 2025. Profit before tax increased to Rs 8.46 crore from Rs 16.35 lakh, while reported total tax expense rose to Rs 2.24 crore from Rs 4.12 lakh.

The reported result came after total expenses of Rs 32.22 crore for the six months to September 2026, against Rs 17.40 lakh a year earlier. The filing shows no exceptional items in either half-year period. It reports profit from continuing operations of Rs 6.21 crore for September 2026, with no separately reported profit or loss from discontinued operations.

Revenue from operations was Rs 31.71 crore in the September 2026 half year, compared with Rs 33.75 lakh in the prior-year period. Net gain on fair-value changes was Rs 40.59 crore, while interest income was Rs 8.57 crore and fees and commission income was Rs 31.42 lakh. The presentation of line items in the supplied results statement is affected by formatting, so the filing’s reported total income and profit figures provide the clearest period comparison.

Raama Finance reported basic earnings per share, or EPS, of Rs 1.52 for the half year, versus Rs 0.04 in the previous corresponding period. Diluted EPS was Rs 0.43, compared with Rs 0.04. The company states that the EPS figures are based on shares with a face value of Rs 1 each and are not annualised.

Why was Raama Finance’s September-quarter profit lower than June?

Raama Finance’s profit for the quarter ended September 30, 2026 was Rs 1.86 crore, down from Rs 4.36 crore in the quarter ended June 30, 2026. Profit before tax fell to Rs 1.86 crore from Rs 6.60 crore over the two quarters, while the June quarter included a Rs 2.24 crore current-tax expense and the September-quarter column shows no tax expense.

Total expenses increased to Rs 17.51 crore in the September quarter from Rs 14.71 crore in the June quarter. Other expenses rose to Rs 14.21 crore from Rs 11.89 crore, an increase of Rs 2.32 crore. Employee-benefits expense declined to Rs 1.66 crore from Rs 2.32 crore, while finance costs increased to Rs 38.33 lakh from Rs 11.57 lakh.

The company reported total revenue from operations of Rs 14.27 crore for the September quarter, compared with Rs 17.43 crore in June. Interest income was Rs 4.70 crore in September and Rs 3.87 crore in June, but net gain on fair-value changes declined to Rs 19.28 crore from Rs 21.31 crore. These movements were disclosed alongside the sequential reduction in profit before tax.

The June quarter contributed Rs 4.36 crore of the reported Rs 6.21 crore half-year profit, while the September quarter contributed Rs 1.86 crore. September-quarter basic EPS was Rs 0.45, below Rs 0.54 in June, and diluted EPS was Rs 0.13 versus Rs 0.22. The September 2026 quarter still exceeded the Rs 12.16 lakh profit reported for the quarter ended September 30, 2025.

What changed in Raama Finance’s balance sheet and cash position?

Raama Finance reported total assets of Rs 66.52 crore at September 30, 2026, compared with Rs 43.96 crore at March 31, 2026. Total equity increased to Rs 41.19 crore from Rs 29.34 crore over the six-month period, while total financial liabilities rose to Rs 17.24 crore from Rs 9.90 crore.

Cash and cash equivalents increased to Rs 12.76 crore at September 30 from Rs 3.30 crore at March 31. Loans rose to Rs 15.08 crore from Rs 9.23 crore, and trade or other receivables increased to Rs 35.09 crore from Rs 24.87 crore. Investments moved in the other direction, declining to Rs 95.95 lakh from Rs 3.74 crore.

The half-year cash-flow statement records a net increase in cash and cash equivalents of Rs 9.45 crore for the six months ended September 30, 2026, against Rs 2.15 crore for the prior-year half year. Cash at the beginning of the period was Rs 3.30 crore and cash at the end was Rs 12.76 crore.

Financing activities generated Rs 16.25 crore in the September 2026 half year. The filing lists proceeds of Rs 5.63 crore from issue of equity share capital including premium, Rs 4.67 crore from issue of debt securities and Rs 6.54 crore from borrowings. Investing activities used Rs 4.82 crore, including Rs 5.53 crore for purchases of investments, while operating activities used Rs 1.97 crore.

What did Raama Finance disclose about its review and business segments?

Raama Finance reported one reportable segment, financial services including non-banking financial company, or NBFC, operations, for the period ended September 30, 2026. The company therefore did not provide separate revenue, profit or asset data across multiple operating segments. Its disclosed Rs 6.21 crore half-year profit is presented within this single-segment structure.

Goyal Nagpal & Co. issued a limited review report dated November 14, 2026 on the quarterly unaudited results. The auditor said that nothing had come to its attention to suggest the statement did not disclose information required under the applicable Securities and Exchange Board of India regulations or that it contained a material misstatement.

The auditor also stated that a limited review is substantially less extensive in scope than an audit under Standards on Auditing and therefore does not provide audit assurance. Raama Finance’s filing letter, dated November 14, 2026, says the standalone results were reviewed by the audit committee and approved by the board, while the statutory auditor’s report covers the quarter ended September 30, 2026.

One note beneath the results says the board took the figures on record at a meeting held on November 14, 2025, despite the filing letter and review report both carrying the date November 14, 2026. The company also says prior-period figures were regrouped or rearranged where necessary to make them comparable. The filing does not explain the differing board-meeting year.

Conclusion

Raama Finance’s September 2026 half-year filing shows a year-on-year rise in profit to Rs 6.21 crore from Rs 12.23 lakh, accompanied by total assets of Rs 66.52 crore and cash of Rs 12.76 crore at period-end. The sequential picture was different, with September-quarter profit of Rs 1.86 crore below the June-quarter figure of Rs 4.36 crore as total expenses increased to Rs 17.51 crore.

The next results release can show whether the September-quarter increase in other expenses to Rs 14.21 crore persists and how loans of Rs 15.08 crore and receivables of Rs 35.09 crore develop. Readers can also watch for clarification of the board-meeting date discrepancy between the November 14, 2025 date in the results note and the November 14, 2026 dates on the filing and limited review report.