MAITHANALL returns to profit as other income drives Q1FY27
Operating margin weakened as expenses fell less than revenue, while other income accounted for 83.8% of consolidated pre-tax profit.
Filed 13 Aug 2026, 16:51 IST · after market close · MAITHANALL (MAITHANALL)
Key takeaways
- Consolidated net profit swung from a Rs 70.68 cr loss in Q4FY26 to Rs 395.72 cr in Q1FY27, largely on other income.
- Revenue fell 3.51% QoQ while expenses declined only 0.92%, narrowing operating margin by 2.17 percentage points to 16.84%.
- Other income contributed 83.8% of profit before tax, making the quarter's earnings quality dependent on non-operating income.
Revenue softness brought operating margin down
On a consolidated basis, revenue declined 3.51% QoQ to Rs 539.53 cr, while expenses fell only 0.92% to Rs 448.70 cr. Because costs contracted less than revenue, operating profit fell 14.56% and operating margin narrowed by 2.17 percentage points to 16.84%.
Other income drove the profit swing
Profit before tax turned positive at Rs 497.82 cr from a Rs 72.32 cr loss in Q4FY26, after other income moved from negative Rs 158.96 cr to Rs 417.17 cr. Other income represented 83.8% of pre-tax profit, while the tax rate rose by 18.24 percentage points to 20.51%; the net-profit rebound was therefore not helped by a lower tax rate.
Lower interest softened the decline below operating profit
Interest expense fell 67.57% QoQ to Rs 4.55 cr, partly offsetting the weaker operating result below the operating-profit line. Depreciation was broadly unchanged, declining 0.18%, so the main swing in reported earnings came from other income rather than a change in operating costs or depreciation.
Results were filed after market close
MAITHANALL filed these consolidated Q1FY27 results after market close on 13 Aug 2026. The results are too fresh for a market reaction to be assessed.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 | Q4FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹540 cr | ₹559 cr | -3.51% |
| Other income | ₹417 cr | ₹-159 cr | — |
| Expenses | ₹449 cr | ₹453 cr | -0.92% |
| Operating profit | ₹91 cr | ₹106 cr | -14.56% |
| Operating margin (%) | 16.84% | 19.01% | — |
| Interest | ₹5 cr | ₹14 cr | -67.57% |
| Depreciation | ₹6 cr | ₹6 cr | -0.18% |
| Profit before tax | ₹498 cr | ₹-72 cr | — |
| Tax | ₹102 cr | ₹-2 cr | — |
| Net profit | ₹396 cr | ₹-71 cr | — |
| EPS (₹) | ₹135.01 | ₹-24.21 | — |
What to watch
- Whether operating margin recovers from 16.84% after its 2.17-percentage-point QoQ decline.
- Whether other income's contribution to pre-tax profit falls from 83.8%.
- Whether revenue reverses its 3.51% QoQ decline from Rs 539.53 cr.