Revenue growth outpaced costs, but tax rate rose sharply at ACCURACY
Consolidated revenue rose +28.14% sequentially and operating margin improved 0.55 percentage points, while the tax rate climbed 26.65 percentage points.
Filed 07 Nov 2026, 18:42 IST · after market close · ACCURACY (ACCURACY)
Key takeaways
- Consolidated revenue increased by +28.14% sequentially while expenses rose +27.40%, lifting operating margin by 0.55 percentage points.
- Net profit increased by +223.53% sequentially to Rs 1.10 cr, but the tax rate rose by 26.65 percentage points to 49.22%.
- Interest expense increased by +17.90% sequentially to Rs 4.15 cr, while other income contributed only 6.91% of pre-tax profit.
Revenue growth lifted operating margin
On a consolidated basis, revenue growth outpaced expense growth in Q2FY27, with revenue rising +28.14% sequentially against a +27.40% increase in expenses. That operating leverage lifted operating profit by +42.86% and improved operating margin from 4.77% to 5.32%, or 0.55 percentage points. The improvement came despite depreciation increasing by +12.83%.
Higher finance cost and tax diluted earnings quality
Interest expense increased by +17.90% sequentially to Rs 4.15 cr, adding pressure below the operating line. Profit before tax increased by +393.18% from a low Q1FY27 base, but the tax rate rose from 22.57% to 49.22%, limiting the conversion into net profit. Other income represented 6.91% of pre-tax profit, so it was not the main driver of earnings.
Margin improved sequentially as results came after market close
Operating margin moved up from 4.77% in Q1FY27 to 5.32% in Q2FY27, marking an improvement in the available quarter-to-quarter direction. The consolidated results were filed after market close on 7 November 2026 at 18:42 IST.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹180 cr | ₹141 cr | +28.14% |
| Other income | ₹0 cr | ₹0 cr | -48.28% |
| Expenses | ₹171 cr | ₹134 cr | +27.40% |
| Operating profit | ₹10 cr | ₹7 cr | +42.86% |
| Operating margin (%) | 5.32% | 4.77% | — |
| Interest | ₹4 cr | ₹4 cr | +17.90% |
| Depreciation | ₹3 cr | ₹3 cr | +12.83% |
| Profit before tax | ₹2 cr | ₹0 cr | +393.18% |
| Tax | ₹1 cr | ₹0 cr | +970.00% |
| Net profit | ₹1 cr | ₹0 cr | +223.53% |
| EPS (₹) | ₹0.07 | ₹0.03 | +133.33% |
What to watch
- Whether operating margin holds above 5.32%.
- Whether interest expense moves below Rs 4.15 cr.
- Whether the tax rate falls from 49.22%.