Mkventures Capital PAT jumps 82% YoY to ₹6.40 Cr as consultancy fees nearly double

Mkventures Capital's consolidated profit after tax rose 82.3% year-on-year to ₹6.40 Cr (₹3.51 Cr in Q2 FY26) on consolidated revenue from operations of ₹10.04 Cr, up 65.5% YoY (₹6.06 Cr); standalone PAT was ₹6.67 Cr on revenue of ₹10.00 Cr. Net profit margin expanded to 63.5% of total income from 56.4% a year ago. The sequential base was unusually weak — Q1 FY27 consolidated PAT was just ₹0.89 Cr — so the 618% QoQ PAT rise is a base/volatility artifact of this NBFC's lumpy mark-to-market book rather than a growth trend, and should not be read as momentum. The YoY growth is driven almost entirely by the Consultancy division, whose segment profit of ₹7.80 Cr nearly doubled both YoY (+92.6% from ₹4.05 Cr) and QoQ (+91.0% from ₹4.09 Cr) on division revenue of ₹8.63 Cr. The Loans & Investment division — a proprietary investment book with no interest income booked this quarter — swung from a ₹1.63 Cr segment loss in Q1 FY27 to a ₹1.00 Cr profit now, but that is still roughly flat year-on-year (₹1.02 Cr in Q2 FY26); the swing traces to 'net gain on fair value changes' of ₹1.41 Cr this quarter versus just ₹0.01 Cr in Q1 FY27 — a volatile line that investors should not extrapolate. No exceptional items were booked in either period, so the headline growth is not inflated by a one-off; the quality caveat is concentration in a single inherently lumpy income line rather than a one-time item. There is no management guidance or prior concall commentary on record for this company, and no analyst/brokerage coverage or consensus estimate could be located — consistent with its micro-cap profile (~₹120 Cr consolidated net worth) — so both the guidance and Street comparisons are unknown rather than a miss. No management press release accompanied the filing beyond the standard BSE outcome letter. Alongside the results, the Board approved an interim dividend of ₹0.25/share (2.5% of the ₹10 face value) for FY25-26, and the filing follows the resignation of several non-executive/independent directors in late September 2026 over shareholding-conflict disclosures — a governance item unconnected to this quarter's numbers.