Revenue growth lifted margins, but depreciation kept GOLDTECH in loss
Consolidated revenue rose +23.58% QoQ and operating margin expanded +10.11 percentage points, but interest and depreciation still drove a Rs 0.97 cr pre-tax loss.
Filed 12 Nov 2026, 18:31 IST · after market close · GOLDTECH (GOLDTECH)
Key takeaways
- Consolidated revenue grew +23.58% QoQ to Rs 33.39 cr while expenses rose +10.44%, lifting operating margin by +10.11 percentage points.
- Despite operating profit of Rs 5.03 cr, depreciation rose +56.67% and interest increased +19.40%, leaving a Rs 0.97 cr pre-tax loss.
- Net loss narrowed to Rs 0.98 cr from Rs 2.60 cr in Q1FY27, while other income represented -113.40% of pre-tax profit because PBT remained negative.
Revenue growth brought operating leverage
Consolidated revenue rose +23.58% QoQ to Rs 33.39 cr, while expenses increased +10.44% to Rs 28.36 cr. The slower expense growth lifted operating profit to Rs 5.03 cr and expanded operating margin from 4.97% in Q1FY27 to 15.08%.
Depreciation and interest absorbed the operating gain
The operating improvement did not flow through to pre-tax profit because depreciation increased +56.67% to Rs 4.70 cr and interest rose +19.40% to Rs 2.40 cr. As a result, the consolidated pre-tax loss narrowed from Rs 2.60 cr to Rs 0.97 cr, but remained negative.
Lower loss, with limited support from non-operating items
Net loss narrowed to Rs 0.98 cr from Rs 2.60 cr in Q1FY27, and EPS improved from Rs -0.50 to Rs -0.19. Other income was Rs 1.10 cr, equal to -113.40% of PBT on the reported ratio because pre-tax profit was negative; the Rs 0.01 cr tax charge and -1.03% tax rate had little bearing on the result.
Results came after market close
The consolidated results were filed after market close on 12 Nov 2026. There is therefore no post-results market reaction to assess yet.
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 | ₹33 cr | ₹27 cr | +23.58% |
| Other income | ₹1 cr | ₹1 cr | +2.80% |
| Expenses | ₹28 cr | ₹26 cr | +10.44% |
| Operating profit | ₹5 cr | ₹1 cr | +275.37% |
| Operating margin (%) | 15.08% | 4.97% | — |
| Interest | ₹2 cr | ₹2 cr | +19.40% |
| Depreciation | ₹5 cr | ₹3 cr | +56.67% |
| Profit before tax | ₹-1 cr | ₹-3 cr | +62.69% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-1 cr | ₹-3 cr | +62.31% |
| EPS (₹) | ₹-0.19 | ₹-0.50 | +62.00% |
What to watch
- Whether revenue growth continues after the +23.58% QoQ increase.
- Whether operating margin holds above 15.08% after the +10.11 percentage-point improvement.
- Whether depreciation and interest moderate from Rs 4.70 cr and Rs 2.40 cr, respectively.