Consolidated PAT triples YoY to ₹9.99 Cr; AUM already past FY27 target, NPM slips to 21%

Regency Fincorp's consolidated PAT for Q2 FY27 rose to ₹9.99 Cr, up 200.7% year-on-year from ₹3.32 Cr (standalone, the only comparable basis a year ago, since consolidation began this quarter) and up 42.1% sequentially from ₹7.03 Cr in Q1 FY27. Consolidated total income was ₹46.63 Cr, up 388.8% YoY and 167.6% QoQ. On a standalone-only basis — stripping out the newly consolidated wholly-owned subsidiary Regency Fin Technology — PAT grew 171.1% YoY to ₹9.01 Cr, still a very strong organic print but the more comparable figure given the change in consolidation scope. There is no formal sell-side coverage of this micro-cap NBFC; a search turned up no consensus estimates for the quarter, so the print cannot be graded against street expectations. The growth came with a clear margin trade-off: consolidated net profit margin fell to 21.4% from 40.3% in Q1 FY27 and 34.8% a year ago, and PBT margin slipped to 28.6% from 53.9% and 47.5% respectively. The dilution traces to a new "Sale of Products and Services" line that contributed ₹14.19 Cr of revenue this quarter (nil in prior periods) alongside a jump in finance costs to ₹8.36 Cr (standalone) from ₹5.07 Cr in Q1 FY27, consistent with funding a sharply larger loan book. Against management's own FY27 targets from the last concall — revenue "₹75+ Cr" and PAT ₹25-30 Cr for the full year, with AUM targeted at ₹500-550 Cr by FY27-end — the company is running well ahead of plan: H1 FY27 consolidated total income of ₹64.06 Cr is already 85% of the full-year revenue guidance, H1 PAT of ₹17.01 Cr is 57-68% of the full-year PAT range, and consolidated loans & advances of ₹593.68 Cr at half-year end have already overshot the ₹500-550 Cr medium-term AUM target months ahead of schedule. The quarter's NCD issuances (₹330 Cr raised across seven tranches between July and September, at coupons stepping down from 14% to 12%) are directionally consistent with the cost-of-funds-reduction guidance (13.25% today toward 11.75-12.5% by FY27-end), though the filing does not disclose a computed cost-of-funds figure to confirm progress directly. Concurrent with the results, the board on October 16 approved a further ₹312 Cr fundraise and called an EGM for November 11 to approve a capital increase — both post-quarter actions pointing to continued aggressive balance-sheet scaling. No management press release accompanied this filing to independently verify the quarter's framing.