RNFI Services (RNFI) Q3 25/26 earnings summary

Executive summary

• Celebrated 10 years of operations, with rapid expansion post-IPO, ongoing investments in new business lines and technology, and a focus on AI initiatives and automation for sustainable, margin-led growth.

• Diversified business model with no single product dominating profit growth; emphasis on annuity income streams, cross-selling, and portfolio diversification across BFSI and non-BFSI sectors.

• Enhanced operational efficiency through automation, process optimization, and improved controls.

• Integration of Payworld is nearly complete, expected to drive improved numbers in the coming year.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025; statutory auditors issued limited review reports with no material misstatements.

Financial highlights

• 9M FY26 consolidated revenue at ₹729.3 Cr, up 3.8% year-over-year; gross profit at ₹134.1 Cr, up 40.4%; EBITDA at ₹46 Cr, up 46.9%; PAT at ₹24.1 Cr, up 63.3%.

• Q3 FY26 consolidated revenue at ₹257.8 Cr, up 5.6% year-over-year; gross profit at ₹51.6 Cr, up 44%; EBITDA at ₹17.5 Cr, up 46.4%; PAT at ₹9.5 Cr, up 59.4%.

• Standalone Q3 revenue from operations: ₹7,505.90 lakhs; nine months: ₹20,992.28 lakhs; standalone Q3 net profit: ₹561.42 lakhs; nine months: ₹1,552.44 lakhs.

• Consolidated Q3 revenue from operations: ₹25,854.99 lakhs; nine months: ₹73,336.77 lakhs; consolidated Q3 net profit: ₹952.53 lakhs; nine months: ₹2,408.30 lakhs.

• Revenue growth offset by a 75% decline in DMT volumes, compensated by higher-margin business growth.

Outlook and guidance

• Management maintains a 40%-50% year-on-year growth target for non-Forex business, with sequential revenue growth expected as DMT impact subsides and new products scale.

• Committed to scaling technology platforms, expanding regulated businesses, and margin improvement, with a focus on scalable operations and robust compliance.

• Subsidiary RNFI Money Private Limited received RBI approval for six new branches, enhancing digital presence in foreign remittance; Reliassure Insurance Broking Private Limited received IRDAI approval for two new branches.

• Loan collection segment targeted to grow more than 3x in the coming years.

• Anticipates further margin expansion as platform scales and new products are launched.