Costs surge cuts operating margin by 8.62 points QoQ
Revenue rose +2.78%, but expenses grew +13.10%; other income supplied 33.28% of pre-tax profit.
Filed 06 Nov 2026, 16:56 IST · after market close · INDOAMIN (INDOAMIN)
Key takeaways
- Consolidated operating margin fell 8.62 percentage points QoQ to 5.47% as expenses grew +13.10% against revenue growth of +2.78%.
- Consolidated net profit declined -72.04% QoQ to Rs 8.60 cr, while interest costs rose +7.52% and the tax rate increased 0.63 percentage points.
- Other income contributed 33.28% of consolidated profit before tax, making the Rs 11.75 cr pre-tax profit less dependent on operations.
Revenue edged up, but profit conversion weakened sharply
Consolidated revenue increased +2.78% QoQ to Rs 385.06 cr, but operating profit fell -60.08% to Rs 21.08 cr. That mismatch drove operating margin down 8.62 percentage points from Q1FY27. Pre-tax profit fell -71.81% to Rs 11.75 cr, and net profit declined -72.04% to Rs 8.60 cr.
Costs, interest and other income shaped the quarter
Expenses rose +13.10% QoQ, much faster than revenue, which explains the margin compression. Interest costs increased +7.52% to Rs 6.72 cr, while depreciation rose +3.01% to Rs 6.51 cr. Other income rose +171.53% to Rs 3.91 cr and represented 33.28% of pre-tax profit, a notable quality factor in the reported earnings.
The quarter was filed after market close
The consolidated results were filed after market close on 06 Nov 2026. There is no post-results market reaction to assess yet, so the stock's move cannot be compared with its historical response to 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 | ₹385 cr | ₹375 cr | +2.78% |
| Other income | ₹4 cr | ₹1 cr | +171.53% |
| Expenses | ₹364 cr | ₹322 cr | +13.10% |
| Operating profit | ₹21 cr | ₹53 cr | -60.08% |
| Operating margin (%) | 5.47% | 14.09% | — |
| Interest | ₹7 cr | ₹6 cr | +7.52% |
| Depreciation | ₹7 cr | ₹6 cr | +3.01% |
| Profit before tax | ₹12 cr | ₹42 cr | -71.81% |
| Tax | ₹3 cr | ₹11 cr | -71.15% |
| Net profit | ₹9 cr | ₹31 cr | -72.04% |
| EPS (₹) | ₹1.23 | ₹4.19 | -70.64% |
What to watch
- Whether operating margin recovers from 5.47% after the 8.62-percentage-point QoQ decline.
- Whether expense growth moderates from +13.10% against revenue growth of +2.78%.
- Whether other income remains below or above its 33.28% contribution to profit before tax.