How did Fractal perform in Q1 FY27?

Revenue grew 20% YoY to ₹912.5 crore, and net income surged 92% YoY.

Why did the TMT vertical decline?

TMT revenue fell 22% YoY. Management attributed it to client-specific cutbacks but expects healthy sequential growth.

What is the healthcare pilot with Mumbai?

Fractal is piloting its healthcare AI platform with Mumbai's municipal corporation across public hospitals. It is an early-stage project.

Who is the departing CFO and what happened?

Ashwath Bhat is stepping down after five and a half years. No reason was given; a successor search is underway.

Earnings · IT - Software · Mid cap

Fractal Q1 revenue up 20%, CFO Bhat departs

Revenue rose to ₹912.5 cr, net profit surged 92% YoY. TMT vertical fell 22% but management expects sequential recovery. CFO Ashwath Bhat leaves; healthcare pilot with Mumbai launched.

— 1 earlier story on Fractal Analytics Ltd. →

FRACTAL By Tipsheet Editorial 27 Jul 2026 · 9:30 PM IST Verify on BSE · NSE

Mkt cap₹15,898 cr

P/E54.41×

ROE12.72%

Debt / eq.0.15

₹912.5 cr Q1 FY27 revenue, up 20% YoY

What's new

Revenue up 20% to ₹912.5 cr; net profit jumps 92% YoY
TMT vertical declines 22%, management expects sequential recovery
CFO Ashwath Bhat steps down after five and a half years; successor search underway
Healthcare AI pilot with Mumbai municipal corporation launched

Why this matters

Fractal's core growth remains strong, but the TMT drag and leadership change temper the picture. The healthcare pilot opens a new public-sector avenue, though near-term impact is small.

What we're watching

Successor appointment for CFO Ashwath Bhat
Scale-up of healthcare pilot with Mumbai municipal corporation
TMT vertical growth trajectory in coming quarters

The full read

Fractal delivered a strong Q1: revenue hit ₹912.5 crore, up 20% YoY, and net profit surged 92%. But the TMT vertical is a drag, down 22%, though management expects a sequential recovery. The bigger surprise: CFO Ashwath Bhat is leaving after five and a half years; a successor search is underway. On the bright side, a healthcare AI pilot with Mumbai's municipal corporation opens a new door. The transcript is routine, but the news inside it is real: strong growth, a leadership change, and a new government pilot.

Questions answered

How did Fractal perform in Q1 FY27?: Revenue grew 20% YoY to ₹912.5 crore, and net income surged 92% YoY.
Why did the TMT vertical decline?: TMT revenue fell 22% YoY. Management attributed it to client-specific cutbacks but expects healthy sequential growth.
What is the healthcare pilot with Mumbai?: Fractal is piloting its healthcare AI platform with Mumbai's municipal corporation across public hospitals. It is an early-stage project.
Who is the departing CFO and what happened?: Ashwath Bhat is stepping down after five and a half years. No reason was given; a successor search is underway.

Mentioned: ₹912.5 cr · Ashwath Bhat · Mumbai municipal corp

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

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27 Jul 2026 · 9:30 PM IST Fractal Q1 revenue up 20%, CFO Bhat departs
47d ago Fractal launches an AI profit engine for e-commerce, with Amazon integration