Crest profit falls 18.31% qoq as costs outpace revenue
Revenue grew 23.31%, but expenses surged 135.24%, cutting operating margin by 24.6 percentage points; other income contributed 14.81% of pre-tax profit.
Filed 05 Nov 2026, 19:13 IST · after market close · Crest Ventures Ltd (CREST)
Key takeaways
- Consolidated net profit fell 18.31% sequentially even as revenue grew 23.31%.
- Operating margin contracted 24.6 percentage points because expenses rose 135.24%, far faster than revenue.
- Crest's 48.27% operating margin was 7.52 percentage points below the 55.79% median for 100 reported financial-services peers.
Price around the results
Revenue growth did not translate into profit growth
Crest reported consolidated revenue growth of 23.31% from Q1FY27, but net profit declined 18.31% and EPS fell 14.96%. The mismatch came from a sharp increase in operating costs, which reduced operating profit by 18.29% despite higher revenue. Results were filed after market close on 5 November 2026.
Expense growth drove the margin reset
Expenses rose 135.24% sequentially against 23.31% revenue growth, narrowing operating margin by 24.6 percentage points to 48.27%. Interest expense increased 4.31%, while the tax rate rose 7.59 percentage points to 26.18%, adding to the pressure on profit after tax. Other income accounted for 14.81% of pre-tax profit, so it was a meaningful contributor to reported earnings.
Margin was below the financial-services peer median
Among 100 financial-services companies that had reported, Crest's 48.27% operating margin was 7.52 percentage points below the sector median of 55.79%. This quarter therefore showed both sequential margin deterioration and weaker positioning against the reported peer set.
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 | ₹37 cr | ₹30 cr | +23.31% |
| Other income | ₹2 cr | ₹6 cr | -67.02% |
| Expenses | ₹19 cr | ₹8 cr | +135.24% |
| Operating profit | ₹18 cr | ₹22 cr | -18.29% |
| Operating margin (%) | 48.27% | 72.87% | — |
| Interest | ₹6 cr | ₹5 cr | +4.31% |
| Depreciation | ₹2 cr | ₹8 cr | -80.53% |
| Profit before tax | ₹13 cr | ₹14 cr | -9.87% |
| Tax | ₹3 cr | ₹3 cr | +26.72% |
| Net profit | ₹9 cr | ₹11 cr | -18.31% |
| EPS (₹) | ₹3.41 | ₹4.01 | -14.96% |
Operating margin of 48.27% compares with a Financial Services sector median of 55.79% across 100 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +1.22% | -0.80% |
Volume on the results session was 2.16× its 20-day average.
What to watch
- Whether operating margin recovers from 48.27% after its 24.6 percentage-point sequential decline.
- Whether expense growth moderates from 135.24% against 23.31% revenue growth.
- Whether the tax rate moves back from 26.18% after rising 7.59 percentage points sequentially.