Mufin Green Finance Limited, a listed non-banking financial company (NBFC) focused on climate finance and digital lending, reported a significant improvement in profitability and operating efficiency for the first quarter of FY27.
The company’s Profit Before Tax (PBT) increased to ₹18.63 crore in Q1 FY27, compared with ₹4.22 crore in Q1 FY26. Profit After Tax (PAT) rose 345.8% year-on-year (YoY) to ₹13.82 crore, from ₹3.10 crore in the corresponding quarter last year. Net Interest Income (NII) increased 64.3% YoY to ₹35.16 crore, compared with ₹21.40 crore in Q1 FY26.
Mufin also reported a 17.2% YoY decline in operating expenses to ₹13.55 crore, compared with ₹16.37 crore in Q1 FY26. Pre-Provisioning Operating Profit more than doubled, increasing 102.3% YoY to ₹62.98 crore.
The company’s cost of borrowing declined to 11.17% in Q1 FY27, compared with 12.17% in Q4 FY26. During the quarter, Mufin added Union Bank of India and Wint Wealth as new lenders, securing ₹25 crore through a term loan and ₹100 crore through a non-convertible debenture (NCD) facility, respectively.
Insurance Premium Financing continued to be one of Mufin’s key digital lending products. The offering enables customers to finance insurance premium payments through structured financing rather than paying the full premium upfront. Mufin said it is expanding the product as part of its broader digital lending portfolio amid growing adoption of digital financial services.
The company’s credit profile is reflected in its A– (Stable) rating from Acuité. During Q1 FY27, CRISIL assigned an LGD of 1% + 0.25% to Mufin’s Mediclaim Premium Financing Pool, supporting the quality of its securitisation pool and access to funding.
Kapil Garg, Managing Director of Mufin Green Finance, said the Q1 FY27 performance reflects the company’s focus on profitable and sustainable growth, supported by stronger NII, improved operating efficiency and lower borrowing costs. He added that the company will continue to strengthen lender relationships, expand digital lending capabilities and focus on responsible growth.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
