Aye Finance’s profit after tax rose 151% in the September quarter, with its assets under management and disbursements also growing as ICICI Securities reportedly lowered its price target.
The lender’s unaudited results put profit after tax at ₹86.72 crore for the three months ended Sept. 30, 2026, compared with ₹34.53 crore in the year-earlier period. Total income was ₹527.12 crore.
Aye Finance had ₹7,597 crore in assets under management on Sept. 30, 26% more than a year earlier, according to its investor presentation. Second-quarter disbursements totaled ₹1,403 crore, up 15% from the first quarter. Credit cost was 3.82%, while gross and net nonperforming asset ratios were 4.20% and 1.62%, respectively.
The company says it provides credit to underserved micro, small and medium enterprises, including loans for working capital and business expansion. Its presentation puts the average loan size at ₹1.7 lakh and describes underwriting that groups borrowers by business clusters and uses artificial intelligence and machine-learning models. The company’s reported expansion is accompanied by measurable credit costs and nonperforming loans.
In remarks included in the presentation, Managing Director and Co-founder Sanjay Sharma said the lender adjusted loan disbursements in drought-hit parts of Maharashtra, Karnataka and Madhya Pradesh.
Mint and Whalesbook reported that ICICI Securities lowered its target price for Aye Finance to ₹200 from ₹285. Mint also reported that the brokerage retained its Buy rating and reduced its valuation multiple to 1.4 times estimated FY28 book value per share from 2 times, citing near-term volatility. The target and rating are analyst views, not company guidance.
Mint reported that Aye Finance shares declined 25.56% over the month through Oct. 23. Mint did not identify a confirmed trigger for the decline, and the reporting does not connect the share move to the lender’s disbursement decisions in drought-affected areas.
