Interest and depreciation cut Ester's operating profit to Rs 23.53 cr before tax
Consolidated net profit was Rs 18.62 cr, including Rs 9.35 cr of other income, while the operating margin stood at 11.47%.
Filed 11 Aug 2026, 15:13 IST · ESTER (ESTER)
Key takeaways
- Consolidated operating profit was Rs 49.58 cr at an 11.47% operating margin.
- Interest of Rs 17.09 cr and depreciation of Rs 18.30 cr reduced operating profit to Rs 23.53 cr of profit before tax.
- Net profit was Rs 18.62 cr, with other income contributing Rs 9.35 cr and the tax rate at 20.89%.
Operating profit narrowed sharply below the revenue line
Ester reported consolidated revenue of Rs 432.16 cr and operating profit of Rs 49.58 cr in Q1FY27. The 11.47% operating margin left limited room for interest and depreciation to be absorbed before tax. With no year-on-year or sequential comparison provided, the quarter is best read through its earnings bridge rather than momentum.
Finance costs and depreciation absorbed over two-thirds of operating profit
Profit before tax was therefore Rs 23.53 cr. Other income of Rs 9.35 cr supported pre-tax profit, so reported earnings also reflected non-operating income.
Tax rate was 20.89% in the consolidated quarter
Tax expense was Rs 4.92 cr on profit before tax of Rs 23.53 cr, producing a 20.89% tax rate. Net profit came in at Rs 18.62 cr and basic EPS was Rs 1.84. There is no quarter-on-quarter or year-on-year trend in the supplied results to establish a direction for margins or earnings.
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 | ₹432 cr |
| Other income | ₹9 cr |
| Expenses | ₹383 cr |
| Operating profit | ₹50 cr |
| Operating margin (%) | 11.47% |
| Interest | ₹17 cr |
| Depreciation | ₹18 cr |
| Profit before tax | ₹24 cr |
| Tax | ₹5 cr |
| Net profit | ₹19 cr |
| EPS (₹) | ₹1.84 |
What to watch
- Whether operating margin moves above or below 11.47%.
- Whether interest expense remains near Rs 17.09 cr.
- Whether other income remains close to Rs 9.35 cr.