Lalithaa Jewellery’s profit rose faster than sales as margin edged up
Sequential revenue growth slightly outpaced expenses, but the 6.29% operating margin remained below the sector median of 11.25%.
Filed 11 Nov 2026, 20:15 IST · after market close · Lalithaa Jewellery Mart Ltd (LALITHAA)
Key takeaways
- Consolidated revenue rose 16.39% sequentially to Rs 7,019.56 cr, while expenses grew 16.26%, allowing operating margin to improve by 0.11 percentage points.
- Net profit increased 21.53% sequentially to Rs 253.05 cr despite interest expense rising 9.30%; the tax rate eased by 0.09 percentage points.
- Operating margin at 6.29% was 4.96 percentage points below the 11.25% median for 299 Consumer Discretionary peers that had reported.
Price around the results
Sequential growth came with modest operating leverage
Consolidated revenue increased 16.39% sequentially, broadly matched by a 16.26% rise in expenses. That small difference lifted operating profit 18.38% and widened operating margin by 0.11 percentage points to 6.29%. Net profit grew faster, at 21.53%, reaching Rs 253.05 cr.
Interest rose, while other income did little to shape profit
Interest expense increased 9.30% sequentially to Rs 68.14 cr, a cost increase that needs monitoring alongside the rise in operating profit. The tax rate eased by 0.09 percentage points to 26.49%, providing a modest lift to earnings conversion. Other income contributed only 1.14% of pre-tax profit, so reported profit was largely operating-led rather than supported by non-operating income.
Margin remains below the Consumer Discretionary peer median
Lalithaa Jewellery’s 6.29% operating margin was 4.96 percentage points below the 11.25% median among 299 reported Consumer Discretionary peers. With only Q1FY27 available for comparison, the quarter establishes a sequential improvement of 0.11 percentage points but does not yet show a multi-quarter direction.
Results were filed after market close
The consolidated results were filed at 20:15 IST on 11 November 2026, after the market closed. A share-price reaction is therefore not yet part of this results readout.
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 | ₹7,020 cr | ₹6,031 cr | +16.39% |
| Other income | ₹4 cr | ₹4 cr | +10.73% |
| Expenses | ₹6,578 cr | ₹5,658 cr | +16.26% |
| Operating profit | ₹441 cr | ₹373 cr | +18.38% |
| Operating margin (%) | 6.29% | 6.18% | — |
| Interest | ₹68 cr | ₹62 cr | +9.30% |
| Depreciation | ₹33 cr | ₹30 cr | +8.04% |
| Profit before tax | ₹344 cr | ₹284 cr | +21.39% |
| Tax | ₹91 cr | ₹75 cr | +20.98% |
| Net profit | ₹253 cr | ₹208 cr | +21.53% |
| EPS (₹) | ₹4.80 | ₹4.16 | +15.38% |
Operating margin of 6.29% compares with a Consumer Discretionary sector median of 11.25% across 299 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 6.29% after the 0.11 percentage-point sequential improvement.
- Whether expense growth remains at or below the 16.39% sequential revenue-growth rate.
- Whether interest growth moderates from the 9.30% sequential increase and other income remains close to 1.14% of pre-tax profit.