5paisa Capital (5PAISA) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 saw volatile equity markets due to tariff uncertainties, FII outflows exceeding $10B, and geopolitical tensions, impacting investor sentiment and market participation.

• Customer base reached 5.01 million as of Q2FY26, with 0.95 lakh new clients acquired, up 20% quarter-over-quarter.

• Major product and technology upgrades were implemented, including real-time onboarding, enhanced ETF dashboard, advanced trading tools, and migration of the mobile app to Flutter.

• Customer satisfaction remains high with a CSAT score of 94% and app rating of 4.2.

• Unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2025, were approved and released, with statutory auditor review and unmodified reports issued.

Financial highlights

• Q2 FY26 revenue was ₹773 million (down 1% QoQ, down 23% YoY); net profit for the quarter was ₹95 million, down 18% QoQ and 57% YoY.

• Average daily turnover increased 19% QoQ to INR 2.67 trillion.

• MTF income grew 22% QoQ; average client funding book expanded 17% QoQ to INR 364 crore.

• Mutual fund AUM rose 4.7% sequentially to INR 1,647 crore.

• Consolidated revenue from operations for H1 FY26 was ₹15,485.88 lakhs, with consolidated net profit at ₹2,103.02 lakhs.

Outlook and guidance

• No specific forward-looking revenue or growth guidance was provided due to market dependency, but management expects H2 to be better if market conditions improve.

• Focus on expanding wallet share through mutual funds, margin trading, and new product launches, with strategic emphasis on monetizing older client cohorts and unlocking new markets.

• The company is in the process of responding to regulatory and tax notices, with potential financial impact undetermined at this stage.