Hexa Tradex profit jumps as operating earnings surge without revenue growth
Operating profit rose 354.74% sequentially, while the tax rate increased 11.62 percentage points and other income contributed only 1.17% of pre-tax profit.
Filed 05 Nov 2026, 15:28 IST · Hexa Tradex Ltd (HEXATRADEX)
Key takeaways
- Consolidated net profit rose 349.70% sequentially to Rs 7.51 cr as operating profit increased 354.74%.
- Revenue was unchanged sequentially at Rs 4.37 cr, so the earnings improvement came from the expense line rather than sales growth.
- Operating margin at 197.49% was 141.70 percentage points above the 55.79% median for 100 reported Financial Services peers.
Price around the results
Profit growth came without a revenue increase
Hexa Tradex’s consolidated revenue was unchanged sequentially at Rs 4.37 cr, but operating profit rose 354.74% to Rs 8.64 cr. The reported expense line showed a -124.21% sequential change, making cost movement the main explanation for the earnings swing rather than business growth. Net profit consequently increased 349.70% to Rs 7.51 cr.
Higher tax rate did not prevent the profit surge
The tax rate increased 11.62 percentage points to 11.86%, so the quarter’s net profit growth was not helped by a lower tax burden. Interest expense declined 8.70% sequentially, while other income accounted for only 1.17% of pre-tax profit. This leaves operating earnings, rather than ancillary income, as the key contributor to the reported profit.
Margin was far above the reported peer median
Hexa Tradex’s operating margin of 197.49% was 141.70 percentage points above the 55.79% median among 100 Financial Services peers that had reported the same quarter. The available quarterly trend shows the current result against Q1FY27, when revenue was also Rs 0.00 cr and operating profit was Rs 1.90 cr, pointing to a sharp sequential change in reported operating earnings.
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 | ₹4 cr | ₹0 cr | — |
| Other income | ₹0 cr | ₹0 cr | +900.00% |
| Expenses | ₹-4 cr | ₹-2 cr | -124.21% |
| Operating profit | ₹9 cr | ₹2 cr | +354.74% |
| Operating margin (%) | 197.49% | — | — |
| Interest | ₹0 cr | ₹0 cr | -8.70% |
| Depreciation | ₹0 cr | ₹0 cr | — |
| Profit before tax | ₹9 cr | ₹2 cr | +407.14% |
| Tax | ₹1 cr | ₹0 cr | — |
| Net profit | ₹8 cr | ₹2 cr | +349.70% |
| EPS (₹) | ₹1.36 | ₹0.30 | +353.33% |
Operating margin of 197.49% 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 | +0.91% | -1.10% |
Volume on the results session was 0.33× its 20-day average.
What to watch
- Whether revenue moves above Rs 4.37 cr after being unchanged sequentially.
- Whether operating margin remains near 197.49%.
- Whether the tax rate stays close to 11.86% while interest expense remains below Rs 0.21 cr.