OnEMI Technology Solutions Ltd., which operates the digital lending platform Kissht, reported a 100% year-on-year rise in net profit to Rs 125 crore for the quarter ended September. Its assets under management grew 68% over the same period.
Profit was also up 32% from the June quarter. Diluted earnings per share came in at Rs 7.1, compared with Rs 4.7 a year earlier, a 51% increase.
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Kissht Q2 FY27 Highlights (YoY)
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- Net profit up 100% at Rs 125 crore.
- AUM up 68% at Rs 9,317 crore; up 16% sequentially.
- Return on average AUM at 5.78% (annualised).
- Return on average equity at 21.65% (annualised).
- Cumulative customers up 22% at over 1.28 crore.
Asset Quality
Gross NPA fell 75 basis points from a year ago to 2.18%. It was 7 basis points lower than the previous quarter. Net NPA eased 2 basis points sequentially to 0.34%.
Provision coverage on Stage 3 assets stood at 84.55%. Expected credit loss coverage on Stage 2 assets rose to 77.6%, from 59.6% a year ago. Collection efficiency at the 30-days-past-due level was 97.12%.
Loan Mix
Unsecured personal loans still make up most of the book, at Rs 8,580 crore, or 92.1% of AUM. All of these loans are sourced digitally. Loans against property, the secured segment, accounted for Rs 737 crore, or 7.9%. This business runs through 107 branches across nine states and union territories, and the company expects it to keep scaling through FY27 and beyond.
Off-book AUM, held by more than eight partners, stood at Rs 5,118 crore, or 54.9% of the total. The lender works with over 45 lending and co-lending partners.
Capital
Net worth more than doubled to Rs 2,377 crore. The company credited retained earnings and its initial public offering in May 2026. The capital adequacy ratio was 34.8%, with Tier-1 capital at 33.7%. Debt-to-equity stood at 0.94 times.
Acuite Ratings upgraded the company to A/Stable from A-/Stable during the quarter. CRISIL and India Ratings maintain A-/Stable.
After the quarter ended, Kissht raised Rs 832.2 crore through a preferential issue. It received in-principle approval from BSE and NSE on Oct. 19.
For the current fiscal, the company expects AUM to grow over 60% and credit costs to fall by more than 15% year-on-year. It has kept its gross NPA guidance below 2.25% and expects return on average equity above 20%. “Our priorities remain unchanged: to grow sustainably without compromising credit quality,” said Ranvir Singh, chairman and chief executive officer.
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