IGCL's Rs 9.55 cr operating profit leaves Rs 2.41 cr net profit
Interest of Rs 4.51 cr and depreciation of Rs 2.77 cr absorbed much of operating profit, while other income was Rs 0.85 cr.
Filed 12 Aug 2026, 11:53 IST · IGCL (IGCL)
Key takeaways
- IGCL converted Rs 168.54 cr of consolidated revenue into Rs 2.41 cr of net profit in Q1FY27.
- Interest of Rs 4.51 cr and depreciation of Rs 2.77 cr reduced Rs 9.55 cr of operating profit to Rs 3.12 cr of profit before tax.
- The Rs 2.41 cr consolidated profit came after Rs 0.85 cr of other income and tax at 22.73%.
Operating profit converted weakly to net earnings
IGCL reported consolidated revenue of Rs 168.54 cr and operating profit of Rs 9.55 cr, implying a 5.67% operating margin. After interest, depreciation and tax, only Rs 2.41 cr reached net profit, with EPS at Rs 0.38. The main feature of the quarter was the limited conversion of operating profit into earnings available to shareholders.
Interest and depreciation were the main deductions
Interest of Rs 4.51 cr and depreciation of Rs 2.77 cr together took a substantial portion of operating profit before tax was applied. Other income was Rs 0.85 cr against profit before tax of Rs 3.12 cr, so non-operating income formed part of the reported earnings mix. Tax was Rs 0.71 cr at a 22.73% tax rate.
Q1FY27 establishes the current earnings base
The quarter's consolidated operating margin was 5.67%, while net profit was Rs 2.41 cr after the financing and depreciation charges. With no management commentary accompanying the results, the reported cost structure and the gap between operating profit and net profit are the clearest indicators for assessing the next quarter.
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 | ₹169 cr |
| Other income | ₹1 cr |
| Expenses | ₹159 cr |
| Operating profit | ₹10 cr |
| Operating margin (%) | 5.67% |
| Interest | ₹5 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹3 cr |
| Tax | ₹1 cr |
| Net profit | ₹2 cr |
| EPS (₹) | ₹0.38 |
What to watch
- Whether operating margin moves from 5.67% in the next quarter.
- Whether interest remains close to or below Rs 4.51 cr.
- Whether other income remains at Rs 0.85 cr or changes its contribution to profit before tax.