GIC Housing Finance profit jumps 467.86% QoQ on margin rebound
Expenses fell 64.98% QoQ while revenue rose 3.29%; a lower tax rate also amplified the earnings increase.
Filed 12 Nov 2026, 20:09 IST · after market close · GIC Housing Finance Ltd (GICHSGFIN)
Key takeaways
- Consolidated net profit jumped +467.86% QoQ to Rs 57.24 cr as operating profit rose +28.94%.
- Operating margin widened 18.05 percentage points to 90.74% as expenses fell -64.98% while revenue grew +3.29%.
- GIC Housing Finance's 90.74% operating margin was 39.13 percentage points above the 51.61% median for 118 reported Financial Services peers.
Price around the results
Profit rebound came from operating improvement
In consolidated Q2FY27, revenue grew +3.29% QoQ, while operating profit increased +28.94%, indicating that the earnings improvement was driven mainly by operating leverage rather than topline growth. Net profit rose +467.86% QoQ to Rs 57.24 cr, with EPS increasing to Rs 10.63 from Rs 1.87.
Lower expenses drove the margin expansion
Expenses fell -64.98% QoQ even as revenue grew +3.29%, widening operating margin by 18.05 percentage points to 90.74%. Interest expense rose +1.72%, so it did not drive the improvement. Other income contributed 2.33% of profit before tax and was not a material earnings driver, while the tax rate fell 23.00 percentage points to 20.18%, further amplifying net profit growth.
Margin rebounded sharply versus Q1 and peers
The operating margin improved from 72.69% in Q1FY27 to 90.74% in Q2FY27, marking a sharp sequential rebound. The company's margin was 39.13 percentage points above the 51.61% median among 118 Financial Services peers that had reported.
Results were filed after market close
The company filed its consolidated Q2FY27 results after market close on 12 Nov 2026. A post-results market move is not assessed here.
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 | ₹276 cr | ₹267 cr | +3.29% |
| Other income | ₹2 cr | ₹1 cr | +173.77% |
| Expenses | ₹26 cr | ₹73 cr | -64.98% |
| Operating profit | ₹250 cr | ₹194 cr | +28.94% |
| Operating margin (%) | 90.74% | 72.69% | — |
| Interest | ₹176 cr | ₹173 cr | +1.72% |
| Depreciation | ₹4 cr | ₹4 cr | +5.79% |
| Profit before tax | ₹72 cr | ₹18 cr | +304.23% |
| Tax | ₹14 cr | ₹8 cr | +88.90% |
| Net profit | ₹57 cr | ₹10 cr | +467.86% |
| EPS (₹) | ₹10.63 | ₹1.87 | +468.45% |
Operating margin of 90.74% compares with a Financial Services sector median of 51.61% across 118 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 90.74% after its 18.05-percentage-point QoQ rebound.
- Whether expenses remain below Rs 25.51 cr after falling -64.98% QoQ.
- Whether the tax rate stays near 20.18% after declining 23.00 percentage points QoQ.