Aptus Q1 FY27: consolidated PAT +19% YoY to ₹261 Cr, EPS ₹5.21; NII drives print as credit costs double
PAT +19% YoY · revenue +15.4% · margins expanding · inline vs street
₹600.29 Cr
+15.4% YoY
₹260.94 Cr
+19% YoY
42.73%
+1.4pp YoY
₹5.21
Aptus Value Housing Finance posted a steady, growth-led first quarter. Consolidated net profit rose ~19% YoY to ₹260.94 Cr (from ₹219.25 Cr) on revenue from operations of ₹600.29 Cr, up ~15.4% YoY, with basic EPS at ₹5.21 versus ₹4.39 a year ago. The bottom line was essentially flat sequentially (Q4 FY26: ₹260.95 Cr) — but Q4 is an audited balancing figure, so YoY is the cleaner read: net margin widened to ~43.5% of operating revenue from ~42.1% a year ago as net interest income (interest income ₹529.16 Cr, +12.7% YoY) outpaced a benign funding line (finance costs ₹169.68 Cr, +5.8% YoY).
Q1 FY-2027 vs prior quarters
The notable swing under the hood is credit cost: consolidated impairment on financial instruments doubled to ₹21.49 Cr from ₹10.59 Cr a year ago (and up from ₹15.93 Cr in Q4), yet profit still compounded ~19% — the housing-finance book's spread absorbed the higher provisioning. Asset quality held: standalone GNPA 1.42%, NNPA 1.07%, provision coverage 25%. Standalone PAT grew faster at ~24.6% YoY (₹192.72 Cr), so the holding company outpaced the consolidated group this quarter as the 100% subsidiary Aptus Finance India's incremental contribution moderated — a >3% growth divergence worth flagging, though both lines tell the same double-digit-growth story.
The stock went into the print at ₹281, down 2.8% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.
What the summary numbers don't show
Small ₹3.75 Cr loss on ARC transfer of stressed loans (536 accounts) booked within expenses
Against the Street, brokerage previews framed a strong topline (revenue estimates in the ₹650–730 Cr range on differing definitions) and the post-result read was constructive — analysts reiterated 'Buy' and the stock rose on the print. Management gives no formal profit guidance but has publicly targeted 22–24% AUM growth for FY27; this quarter's ~15% revenue and ~19% profit growth are consistent with, though not ahead of, that ambition, and the Aug 1 concall is the checkpoint for AUM and disbursement momentum. The board approved the results on July 31 alongside routine Reg-52 debenture disclosures; the ₹2.50 interim dividend flagged in company events was a prior (FY26) action, not declared with this quarter.
W1
AUM/disbursement growth vs management's 22–24% FY27 AUM target — checkpoint at the Aug 1 concall
W2
Credit-cost trajectory: consolidated impairment doubled YoY to ₹21.49 Cr; watch whether this normalises or signals rising stress
W3
Net-margin durability (~43.5%) as finance costs re-price; funding line grew just 5.8% YoY this quarter
Clean digital filing, both statements present, current column = quarter ended 30.06.2026 (Unaudited). Units in Lakhs, converted to Cr (÷100). No material exceptional items; small ₹3.75 Cr loss on ARC transfer of stressed loans sits within total expenses (not a separate exceptional line). Consolidated PAT ₹260.94 Cr flat QoQ vs Q4 (₹260.95 Cr) — Q4 is an audited balancing figure. Standalone GNPA 1.42%/NNPA 1.07%.