CreditAccess Grameen Q2 Results, October 22, 2026: Record ₹502 Crore Profit, Guidance Raised

CreditAccess Grameen Q2 results came out on Thursday evening, October 22, 2026, and this one is a proper bounce-back quarter. The Bengaluru microlender posted its highest-ever quarterly profit, ₹501.6 crore, nearly four times what it made a year ago, and then raised its return guidance for the full year.

CreditAccess Grameen Q2 results in numbers

The figures below come from the company’s results filing and press release on NSE, for the July-September quarter (Q2 FY27) against the same quarter last year:

• Profit after tax: ₹501.6 crore, up 298.7% from ₹125.8 crore. It was ₹493.4 crore in the June quarter, so the sequential gain is small.
• Total income: ₹1,904.8 crore, up 26.2% from ₹1,509 crore.
• Pre-provision operating profit: ₹970.2 crore, up 39.6%.
• Credit cost: ₹299 crore, down 43.2% from a year ago.
• Profit before tax: ₹670.9 crore, against ₹169.2 crore.
• Basic EPS: ₹31.27 for the quarter, against ₹7.87 a year earlier.

For the first half, profit was ₹995 crore. That is already well above the ₹777.6 crore the company earned in the whole of FY26, and miles ahead of the ₹186 crore it made in H1 last year.

Where the jump really came from

Look at the gap between the two growth rates. Income grew about 26%, but profit almost quadrupled. Most of that difference is provisions. Credit cost fell 43.2% to ₹299 crore while pre-provision profit rose 39.6%. Put those two together and a quarter of decent business growth turns into a record bottom line.

Asset quality numbers back this up. Portfolio at risk beyond 90 days (PAR 90+) stood at 1.1%, and PAR 0+, which counts any loan even a day overdue, was 2.1%. Gross and net NPAs, measured mostly at 60+ days past due, were 1.79% and 0.59%. Collection efficiency on current loans, the X-bucket, was 99.71% in September.

Loan book and the shift to retail

Assets under management grew 19.5% year on year to ₹30,946 crore, from ₹25,903 crore. Disbursements rose 19.4% to ₹6,355 crore. The company added 2.3 lakh new borrowers in the quarter, and 35% of them were new to credit.

The mix is changing too. Retail finance, which covers individual business loans, housing and two-wheeler loans, made up 23.3% of AUM in September, up from 20.6% in June. That matters for a lender built mainly on group loans. A more varied book is less exposed to the next stress cycle in joint-liability lending.

The branch count grew 5.3% to 2,326, and the company works across 460 districts in 16 states and Puducherry. Liquidity was ₹3,501.9 crore, about 10.2% of total assets, and the capital adequacy ratio was 26.9%.

Guidance goes up, loan rates come down

Managing director and CEO Ganesh Narayanan said the company has lifted its FY27 return on assets (ROA) guidance to 5.2-5.8% from 4.0-4.8%, and its return on equity (ROE) guidance to 21-24% from 16-20%. AUM growth guidance stays at 20-25% and credit cost guidance at 3-4%. Q2 ROA was 5.8% and ROE 23.2%.

He also said loan pricing has been cut by 50 basis points from October. And he flagged caution in districts facing drought-related problems, which is the one soft spot investors will watch in the second half.

What we take away

The profit headline is mostly a story about provisions returning to normal, not a sudden surge in lending. That is fine, but it means the next few quarters depend on collections holding up. A 50 bps rate cut will also nibble at margins. Still, a lender guiding for 5%+ ROA after a rough patch says CreditAccess sees its own rough patch as over. The CEO called FY27 a clear turnaround in profitability. We saw a similar pattern in Aye Finance’s Q2 numbers, where falling credit costs did the heavy lifting.

If you want a framework for reading a results filing like this one, our guide on how to analyse quarterly results walks through the line items step by step.

Disclaimer: This article is for information only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.