Emkay posts Rs 9.11 cr profit amid crude-price volatility
Other income was Rs 4.61 cr against Rs 8.73 cr of pre-tax profit, while management said primary-market activity picked up.
Filed 27 Jul 2026, 17:38 IST · after market close · EMKAY (EMKAY)
Key takeaways
- The quarter delivered a 19.11% consolidated operating margin, with operating profit of Rs 17.57 cr on revenue of Rs 91.92 cr.
- Other income of Rs 4.61 cr was substantial relative to Rs 8.73 cr of pre-tax profit, while the 8.21% tax rate supported reported earnings.
- EPS was Rs 3.39 as management said primary-market activity picked up after a subdued second half of FY26.
Q1FY27 profit included a sizeable non-operating contribution
Emkay reported consolidated net profit of Rs 9.11 cr and EPS of Rs 3.39 for Q1FY27. Other income of Rs 4.61 cr was substantial relative to pre-tax profit of Rs 8.73 cr, so the reported earnings mix included a meaningful non-operating contribution. The 8.21% tax rate also supported the conversion of pre-tax profit into net profit.
Interest remained a significant charge below operating profit
Operating profit was Rs 17.57 cr, while interest expense was Rs 4.29 cr and depreciation was Rs 3.01 cr. These charges reduced the amount flowing from operating profit to pre-tax profit. The reported operating margin was 19.11% on revenue of Rs 91.92 cr.
Primary-market activity improved as crude prices swung sharply
Management said primary-market activity picked up meaningfully after a subdued second half of FY26. The company also said the US-Iran conflict caused sharp swings in crude oil prices during the quarter. Its presentation flags that a prolonged Middle East disruption could affect crude prices, inflation expectations and investor sentiment.
Results were filed after market close
The consolidated results were filed after market close on 27 Jul 2026. The initial results note therefore does not include a post-results market reaction.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹92 cr |
| Other income | ₹5 cr |
| Expenses | ₹74 cr |
| Operating profit | ₹18 cr |
| Operating margin (%) | 19.11% |
| Interest | ₹4 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹9 cr |
| Tax | ₹1 cr |
| Net profit | ₹9 cr |
| EPS (₹) | ₹3.39 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Primary market activity picked up meaningfully after a subdued second half of FY26.
Problems & risks
- The US-Iran conflict caused heightened volatility and sharp swings in crude oil prices during the quarter.
- A prolonged Middle East disruption could affect crude oil prices, inflation expectations and investor sentiment because India depends on energy imports.
What to watch
- Whether operating margin holds near 19.11% in the next quarter.
- Whether other income remains around Rs 4.61 cr and how it affects profit quality.
- Whether interest expense stays close to Rs 4.29 cr relative to operating profit of Rs 17.57 cr.