MAS Financial Services Reports 22% Rise in Q2 Net Profit at ₹110 Crore

Ahmedabad-based non-banking financial company MAS Financial Services Ltd reported a standalone net profit of ₹110 crore for the second quarter, driven by higher net interest income and gains on the assignment of financial assets. The company's assets under management grew by 23 per cent year-on-year to reach ₹16,011 crore.

Ahmedabad-based non-banking financial company (NBFC) MAS Financial Services Ltd has reported a 22 per cent year-on-year increase in its standalone net profit for the second quarter (Q2FY27), coming in at ₹110 crore compared to ₹90 crore in the corresponding period of the previous fiscal year.

According to the company's financial disclosures, the profit growth was supported by robust performance in net interest income and gains generated from the assignment of financial assets.

The NBFC logged a net interest income of ₹237 crore during the quarter, marking a 44.5 per cent increase from ₹164 crore recorded in the year-ago period. Additionally, the gain on the assignment of financial assets rose by 17 per cent year-on-year to ₹12 crore, compared to ₹53 crore in Q2FY26.

However, certain segments saw declines. Fees and commission income dropped 33 per cent year-on-year to ₹18 crore from ₹27 crore. Concurrently, fees and commission expenses increased by 50 per cent to reach ₹46.5 crore, up from ₹31 crore in the previous year's corresponding quarter.

The company's loan book—which includes microenterprise loans, SME loans, two-wheeler loans, commercial vehicle loans, and salaried personal loans—expanded by 31 per cent year-on-year to stand at ₹12,156 crore as of September-end 2026. Furthermore, the standalone assets under management (AUM) grew by 23 per cent to reach ₹16,011 crore.

As of September 30, 2026, MAS Financial Services maintained a total of seven co-lending agreements with other lenders, with a combined outstanding amount of ₹2,437 crore under these partnerships.

"The steady performance reported by MAS Financial Services highlights the continued credit demand in segments such as microenterprise and SME lending. A 23 per cent growth in assets under management, backed by a strong net interest income, demonstrates the viability of scaling traditional non-banking financial models through disciplined portfolio management and co-lending partnerships." — Dr. Shishir Gupta, Founder & CEO, StartupLanes