Milgrey Finance Reports Q3 Loss Amid Zero Operational Revenue

Milgrey Finance & Investments Ltd reported a net loss of ₹0.076 lakh for the third quarter of FY26, with no revenue generated from its operations. The company stated that its total revenue for the quarter was zero, representing a 100% year-on-year decline from the prior year's comparable period.

For the nine months ended December 31, 2025, Milgrey Finance posted a net profit of ₹104.050 lakh. This marks an increase from ₹65.040 lakh in the same period last fiscal year. The company noted that the 132.46% growth in total revenue for the nine-month period was driven entirely by 'Other Income'.

Milgrey Finance operates as a Non-Banking Financial Company (NBFC), typically engaged in lending and investment activities. However, the latest financial results indicate a significant departure from conventional revenue generation, with operational income ceasing.

The company's current financial structure means profitability relies heavily on 'Other Income' sources, rather than revenue from its core lending or investment operations. This dependency makes the company's financial performance more vulnerable to external market conditions and fluctuations in non-operational earnings. Investors are likely to focus on the lack of core business revenue and the sustainability of 'Other Income'.

In comparison, peer NBFCs like Poonawalla Fincorp Ltd and Edelweiss Financial Services Ltd typically generate substantial revenue from their core lending and financial service operations.

Key metrics for the period include:

• Total Revenue YoY growth for Q3 FY26 was -100.00% (standalone).
• Total Revenue YoY growth for the nine months ended December 31, 2025, was 132.46% (standalone).

Moving forward, investors will be tracking any updates on the resumption of Milgrey Finance's core lending or investment operations, the specific sources and sustainability of its 'Other Income,' and management's commentary on addressing the operational revenue gap.