Amrutanjan's operating margin widens 11.41 points QoQ
Revenue grew +31.28% QoQ while expenses rose +15.34%, lifting operating margin, though it remained 3.77 points below the healthcare-peer median.
Filed 03 Nov 2026, 18:12 IST · after market close · Amrutanjan Health Care Ltd (AMRUTANJAN)
Key takeaways
- Standalone operating margin rose 11.41 percentage points QoQ to 17.47% as revenue grew +31.28% while expenses grew +15.34%.
- Net profit increased +295.42% QoQ, but other income contributed 13.07% of pre-tax profit and the tax rate fell 2.89 percentage points.
- Operating margin was 3.77 percentage points below the 21.24% median for 56 Healthcare peers.
Price around the results
Operating leverage drives the Q2FY27 rebound
Amrutanjan Health Care's standalone revenue growth outpaced expense growth sharply in Q2FY27, producing a steep sequential improvement in operating profit and net profit. EPS rose to Rs 5.98 from Rs 1.51 in Q1FY27 as the operating margin recovered from 6.06% to 17.47%. This was a clear quarter-on-quarter rebound, rather than evidence of a sustained multi-quarter direction.
Lower cost growth lifted margins, with some profit-quality support
Expenses grew +15.34% QoQ against revenue growth of +31.28%, so operating margin expanded by 11.41 percentage points. The net-profit increase also received support outside operations: other income accounted for 13.07% of pre-tax profit, while the tax rate declined by 2.89 percentage points to 25.18%. Interest was unchanged sequentially.
Margin remains below the Healthcare peer median
The 17.47% operating margin was 3.77 percentage points below the 21.24% median among 56 Healthcare companies that had reported the quarter. The comparison places Amrutanjan's margin in the lower part of the peer set, despite the sharp sequential recovery.
Market reaction is still pending
The standalone results were filed after market close on 03 Nov 2026. The stock's immediate response therefore cannot yet be assessed.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹135 cr | ₹103 cr | +31.28% |
| Other income | ₹3 cr | ₹2 cr | +68.72% |
| Expenses | ₹112 cr | ₹97 cr | +15.34% |
| Operating profit | ₹24 cr | ₹6 cr | +278.37% |
| Operating margin (%) | 17.47% | 6.06% | — |
| Interest | ₹0 cr | ₹0 cr | +0.00% |
| Depreciation | ₹3 cr | ₹2 cr | +81.77% |
| Profit before tax | ₹23 cr | ₹6 cr | +280.56% |
| Tax | ₹6 cr | ₹2 cr | +242.35% |
| Net profit | ₹17 cr | ₹4 cr | +295.42% |
| EPS (₹) | ₹5.98 | ₹1.51 | +296.03% |
Operating margin of 17.47% compares with a Healthcare sector median of 21.24% across 56 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 17.47% after the 11.41-point QoQ rebound.
- Whether expenses continue to grow slower than revenue, as they did at +15.34% versus +31.28% QoQ.
- Whether other income's 13.07% share of pre-tax profit declines or persists.