KFin Technologies543720Quarterly results

Q2FY27: Revenue up 29.9% y-o-y, PAT up 7.5% y-o-y, EBITDA margin at 40.1%

Q2FY27 revenue ₹4,018.0 million, up 29.9% y-o-y.

By ScoutQuest · Mon 26 Oct 2026, 8:11 PM IST · 4 min read

Q2FY27 revenue: ₹4,018.0 million, up 29.9% y-o-y
Q2FY27 PAT: ₹1,003.4 million, up 7.5% y-o-y
EBITDA margin: 40.1%

Quarter at a glance

Revenue from operations stood at ₹4,018.0 million, up 29.9% y-o-y.
EBITDA stood at ₹1,610.3 million, up 18.7% y-o-y. EBITDA margin was 45.8% excluding Ascent and 40.1% including Ascent.
PAT stood at ₹1,003.4 million, up 7.5% y-o-y. PAT margin was 30.5% excluding Ascent and 25.0% including Ascent.
Diluted EPS stood at ₹5.78, up 7.5% y-o-y.
International and other investor solutions revenue rose 157.9% y-o-y (20.9% y-o-y excluding Ascent); Ascent Fund Services revenue rose 31.3% y-o-y.
Non-domestic mutual fund revenue share in overall revenue improved to 42.1% y-o-y.

First half (H1FY27)

Revenue from operations stood at ₹7,583.3 million, up 30.0% y-o-y.
EBITDA stood at ₹2,830.1 million, up 13.4% y-o-y, with EBITDA margin at 42.8% excluding Ascent and 37.3% including Ascent.
PAT stood at ₹1,755.6 million, up 3.2% y-o-y, with PAT margin at 28.7% excluding Ascent and 23.2% including Ascent.
Diluted EPS stood at ₹10.12, up 3.0% y-o-y.
Non-domestic mutual fund revenue share in overall revenue improved to 41.0% y-o-y.
Cash and cash equivalents stood at ₹5,508.6 as on September 30, 2026.

Business highlights

Overall AUUM continued to grow faster than the industry: KFintech's AUUM growth was 15.1% y-o-y against 13.1% for the industry, with an overall AUUM market share of 33.1%. Equity AUUM growth was 14.3% y-o-y against 15.0% for the industry, with an equity AUUM market share of 32.8%.
The company won a new RTA deal from Ashika Group.
Number of international clients increased to 515 (Ascent: 394 and KFintech SEA: 121). AUUM increased y-o-y to US$51.9 billion (₹4,943 billion) from US$10.6 billion (₹934 billion). New mandates include fund administration in GIFT city; Singapore, the USA and the Middle East remain Ascent's fastest-growing markets, with 24 new funds added in Singapore, 10 in the US and 7 in the Middle East.
Added 437 new corporate clients under issuer solutions; market share was 50.2% in NSE500 companies. New IPO mandates won during the quarter include Abakkus Asset Manager, Mahanadi Coalfields, JSW One Platform, Goldi Solar and Muthoot FinCorp.
Number of alternate funds was 785 with a market share of 37.2%; AUM grew 12.9% y-o-y to ₹20.3 trillion. Won 25 new AIF funds including from JM Financial Asset Management, 360 One WAM, Godrej Asset Management and Onterra Capital Advisor, plus a new mandate from a pension fund for an end-to-end mPower platform solution.
NPS subscriber base grew to 2.5 mm by 41.2% y-o-y against 14.1% growth for the industry; market share in overall subscribers' base was 12.8% as on September 30, 2026, up from 10.3% as on June 30, 2025.

What management said

Sreekanth Nadella, Managing Director and CEO, said the quarter reflects resilience, product innovation capability and AI-driven execution across operating business lines. He noted revenues grew 30% y-o-y led by strong deal wins across segments and the growing scale of the international business, alongside shallow momentum in domestic public markets. He said EBITDA expanded sequentially, driven by scale benefits in non-mutual fund operating lines, deployment of AI and RPA driven productivity levers, and disciplined cost management, and that the sales pipeline has been augmented substantially.

How to read the numbers

Revenue growth of 29.9% y-o-y in the quarter outpaced EBITDA growth of 18.7% and PAT growth of 7.5%, so profit growth was slower than revenue growth.
The release separately shows margins with and without Ascent: EBITDA margin of 45.8% excluding Ascent versus 40.1% including it, and PAT margin of 30.5% versus 25.0%. This lets a reader see the margin profile of the business before and after including the acquired operations.
Growth in international and other investor solutions revenue of 157.9% y-o-y is partly due to Ascent; excluding Ascent the same line grew 20.9% y-o-y.
In overall AUUM, KFintech's growth of 15.1% y-o-y was above the industry's 13.1%, while in equity AUUM its growth of 14.3% y-o-y was below the industry's 15.0%.

Key figures table (₹ million)

Revenue: Q2FY27 4,018.0; Q1FY27 3,565.4; Q2FY26 3092.3; H1FY27 7,583.3; H1FY26 5,832.9
EBITDA: Q2FY27 1,610.3; Q1FY27 1,219.8; Q2FY26 1,357.1; H1FY27 2,830.1; H1FY26 2,495.7
EBITDA margin %: Q2FY27 40.1%; Q1FY27 34.2%; Q2FY26 43.9%; H1FY27 37.3%; H1FY26 42.8%
Profit After Tax (PAT): Q2FY27 1003.4; Q1FY27 752.1; Q2FY26 933.1; H1FY27 1,755.6; H1FY26 1,705.7
PAT margin %: Q2FY27 25.0%; Q1FY27 21.1%; Q2FY26 30.2%; H1FY27 23.2%; H1FY26 29.2%
Diluted EPS (₹): Q2FY27 5.78; Q1FY27 4.34; Q2FY26 5.38; H1FY27 10.12; H1FY26 9.83

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