Paisalo Digital: PAT +30% YoY to ₹61.3 Cr on NIM strength; QoQ cools as funding costs jump

On a consolidated basis — the primary lens here, given standalone (₹60.86 Cr) and consolidated (₹61.31 Cr) PAT differ by under 1% — Paisalo Digital's Q1 FY27 profit rose 29.98% year-on-year to ₹61.31 Cr on revenue of ₹260.29 Cr, up 19.01% YoY. EPS came in at ₹0.67 against ₹0.52 a year ago. Sequentially, though, momentum cooled: revenue was flat versus Q4 FY26 (-0.24% QoQ) while PAT fell 15.11% QoQ from ₹72.23 Cr, so the year-on-year growth and margin-expansion story sits alongside a clear sequential slowdown.

The margin bridge explains the divergence. Net profit margin (PAT/total income) expanded to 23.56% from 21.57% a year ago, but compressed sharply from 27.68% in the March quarter. The compression traces to two lines: consolidated finance costs jumped 31.97% QoQ to ₹115.58 Cr even as revenue held flat, and impairment/credit-cost provisioning more than doubled QoQ to ₹15.73 Cr from ₹7.15 Cr — despite reported asset quality staying steady at GNPA 0.69% and NNPA 0.48%. Net Interest Margin nonetheless held at 6.61% consolidated (6.57% standalone), above management's guided floor of "at or above 6.5%" set on the Q4 FY26 call.

The stock went into the print at ₹71.3, up 2.5% over the past month of trading.

No formal street estimates for this print turned up in a search — Paisalo Digital carries no visible broker-preview coverage, so vsStreet is unrated rather than guessed. Management's press release beyond the regulatory statement was not provided with this filing. Against the prior guidance to double AUM, income and net profit over three fiscal years (roughly a 26% CAGR pace) while holding NIM ≥6.5%, this quarter's +29.98% YoY PAT growth and 6.61% NIM keep the company on track, though the sequential dip needs to reverse for that pace to hold. The quarter's corporate actions — a ₹15,000 Cr NCD public issue approved August 1, a ₹900 Cr (₹90,000 Lakh) NCD shelf prospectus approved July 17, and ₹40 Cr of commercial paper allotted July 14 — show funding lines being built out ahead of growth, consistent with the finance-cost jump already visible this quarter and a cost-of-funds risk as more of this debt is drawn down.