Mumbai, July 22 -- Profit before tax was up 24.4% to Rs 279.8 crore in Q2 2026, compared with Rs 225.0 crore in the corresponding quarter of the previous year.

The net impact of foreign exchange movement was a loss of Rs. 8.2 crore in Q2 2026 as against a loss of Rs 6.6 crore in Q2 2025.

Crisil stated that the yields on corporate bonds remain elevated, resulting in a 25.7% on-year decline in issuance by value in Q2 2026. The number of issuers saw a 15.3% decrease on-year, while the number of issuances fell 12.9%.

Bank credit remained robust at 17.7% as of May 2026 compared to 9.0% as of May 2025. Credit to large corporates rebounded to 14.4%, while that to non-banking finance companies remained the key driver of services sector credit ...