Other income outweighed operating profit in INDOCO's Q1FY27
Consolidated earnings were shaped more by Rs 99.52 cr of other income than by the Rs 41.02 cr operating profit.
Filed 28 Jul 2026, 11:54 IST · INDOCO (INDOCO)
Key takeaways
- Other income of Rs 99.52 cr exceeded consolidated operating profit of Rs 41.02 cr in Q1FY27.
- Interest of Rs 28.29 cr and depreciation of Rs 34.53 cr weighed on the conversion of operating earnings into pre-tax profit.
- Net profit of Rs 65.44 cr included the benefit of a 15.8% tax rate.
Operating earnings were modest relative to reported profit
INDOCO's consolidated Q1FY27 operating profit was Rs 41.02 cr on revenue of Rs 467.5 cr, leaving operating margin at 8.77%. Reported profit before tax was Rs 77.72 cr, so the earnings profile was not driven by operations alone.
Other income was the key profit-quality factor
Other income of Rs 99.52 cr was more than twice operating profit, making it the central factor behind pre-tax earnings. Interest of Rs 28.29 cr and depreciation of Rs 34.53 cr further reduced the contribution from operating profit, while the 15.8% tax rate supported net profit of Rs 65.44 cr.
The next quarter will show whether core earnings improve
With no sequential or year-on-year comparison supplied, the main read-through is the balance between operating profit and non-operating income. The reported quarter sets an operating-profit reference point of Rs 41.02 cr and an other-income reference point of Rs 99.52 cr.
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 | ₹468 cr |
| Other income | ₹100 cr |
| Expenses | ₹426 cr |
| Operating profit | ₹41 cr |
| Operating margin (%) | 8.77% |
| Interest | ₹28 cr |
| Depreciation | ₹35 cr |
| Profit before tax | ₹78 cr |
| Tax | ₹12 cr |
| Net profit | ₹65 cr |
| EPS (₹) | ₹7.09 |
What to watch
- Whether operating profit moves above or below Rs 41.02 cr.
- Whether other income remains close to or below Rs 99.52 cr.
- Whether the tax rate changes from 15.8%.