Kissht Q1 FY27: consolidated PAT up 59% YoY to ₹95 Cr as AUM surges 61%, margins expand

OnEMI Technology Solutions (Kissht) reported consolidated PAT of ₹95.1 Cr for Q1 FY27, up 59.2% YoY from ₹59.7 Cr and up 15.7% QoQ from ₹82.2 Cr, on consolidated revenue from operations of ₹669.5 Cr (+44.6% YoY, +8.1% QoQ). Standalone PAT grew faster, at ₹51.9 Cr (+86.6% YoY on ₹215.7 Cr revenue, +54.6% YoY) — a >27-point divergence from the consolidated growth rate, since the consolidated numbers are dominated by lending subsidiary Si Creva Capital, which scaled more slowly than the parent this quarter. This is the company's first quarterly print since its May 2026 IPO (NSE/BSE: KISSHT). Margins expanded on both counts: consolidated net profit margin rose to 14.1% from 12.8% a year ago, and PBT margin to 18.9% from 17.1%, as total expenses grew 42.2% YoY, trailing the 44.6% revenue growth. Impairment on financial instruments — the second-largest cost line — rose 27.9% YoY to ₹128.1 Cr, but AUM grew 60.9% YoY to ₹8,001 Cr (from ₹4,972 Cr), meaning credit cost fell as a share of the book, consistent with management's stated goal of disciplined asset quality; the filing does not disclose a gross NPA number this quarter, so progress against the <2.25% target can't be confirmed. Finance costs rose 38.2% YoY on a larger borrowing base funding the higher loan book. Management's FY27 guidance from the prior concall — AUM growth above 40%, gross NPA below 2.25%, return on average assets of 4.5-5% and return on equity of 19-21% — was reiterated alongside this result per the company's Q1FY27 business update. The 60.9% AUM growth clears the AUM bar comfortably; the NPA and return-ratio targets remain unverified this quarter as they weren't disclosed in the filing. No formal Street consensus estimates for this print could be located — the stock listed only in May 2026 and has thin analyst coverage so far — so vsStreet is unknown rather than a genuine miss or beat. The quarter also carried several corporate actions: completion of the ₹850 Cr fresh-issue IPO with ₹772.5 Cr of proceeds utilised by quarter-end, incorporation of wholly-owned subsidiary Invincible Minds for mutual-fund distribution, and (just after quarter-end) a ₹325 Cr NCD issuance by subsidiary Si Creva. The filing itself carries no separate management press commentary beyond the regulatory board-outcome disclosure and auditors' limited review reports.