IVC posts profit despite a 1.52 operating loss
Other income of 4.46 more than offset the operating loss, while tax absorbed 57.84% of profit before tax.
Filed 13 Aug 2026, 14:49 IST · IVC (IVC)
Key takeaways
- Consolidated operations remained loss-making, with an operating loss of 1.52 and a -18.58% operating margin.
- Other income of 4.46 exceeded profit before tax of 2.88, making reported earnings dependent on non-operating income.
- A 57.84% tax rate reduced net profit to 1.21 despite positive reported earnings.
Operating loss outweighed by other income
IVC's consolidated Q1FY27 revenue of 8.17 did not cover expenses of 9.69, resulting in an operating loss of 1.52. Other income of 4.46 lifted profit before tax to 2.88, so the reported profit did not come from operations. Interest was 0.0 and depreciation was 0.06.
Reported profit has weak operating support
Other income was larger than profit before tax, highlighting the limited contribution from the core business in the quarter. The 57.84% tax rate then absorbed 1.66, leaving net profit of 1.21 and EPS of Rs 0.06.
The next quarter will test operating recovery
The key issue is whether revenue can cover expenses after the operating margin fell to -18.58%. The quality of earnings will also depend on the relationship between other income of 4.46 and profit before tax of 2.88.
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 | ₹8 cr |
| Other income | ₹4 cr |
| Expenses | ₹10 cr |
| Operating profit | ₹-2 cr |
| Operating margin (%) | -18.58% |
| Interest | ₹0 cr |
| Depreciation | ₹0 cr |
| Profit before tax | ₹3 cr |
| Tax | ₹2 cr |
| Net profit | ₹1 cr |
| EPS (₹) | ₹0.06 |
What to watch
- Whether operating margin moves above -18.58%.
- Whether revenue of 8.17 covers expenses of 9.69.
- Whether other income remains close to or above profit before tax of 2.88.