Mangal Credit profit falls 28.47% as expenses outpace revenue
Standalone operating margin narrowed 2.66 percentage points, while interest expense rose 7.88% sequentially.
Filed 03 Nov 2026, 19:27 IST · after market close · Mangal Credit & Fincorp Ltd (MANCREDIT)
Key takeaways
- Standalone net profit fell 28.47% quarter on quarter as revenue declined 4.11% while expenses rose 10.05%.
- Operating margin narrowed by 2.66 percentage points to 79.38%, with interest expense up 7.88%.
- Mangal Credit’s operating margin was 28.78 percentage points above the 50.6% median for 79 reported Financial Services peers.
Price around the results
Sequential profit drop follows weaker revenue
Mangal Credit reported standalone net profit of Rs 4.07 cr in Q2FY27, down 28.47% from Q1FY27, while EPS fell 28.52% to Rs 1.93. Revenue declined 4.11% to Rs 21.25 cr, and the results were filed after market close on 03 Nov 2026.
Higher costs and interest squeezed profitability
Expenses grew 10.05% even as revenue fell 4.11%, reducing operating profit by 7.26% and narrowing operating margin by 2.66 percentage points. Interest expense rose 7.88%, while the tax rate increased by 0.62 percentage points to 26.43%, adding to the pressure on profit before tax. Other income was zero, so reported profit was not supported by that source.
Margin stays above the Financial Services peer median
Mangal Credit’s 79.38% operating margin was 28.78 percentage points above the 50.6% median among 79 Financial Services peers that had reported the quarter. The available quarterly comparison shows a sequential margin decline from 82.04%, but does not establish a longer multi-quarter direction.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹21 cr | ₹22 cr | -4.11% |
| Other income | ₹0 cr | ₹0 cr | — |
| Expenses | ₹4 cr | ₹4 cr | +10.05% |
| Operating profit | ₹17 cr | ₹18 cr | -7.26% |
| Operating margin (%) | 79.38% | 82.04% | — |
| Interest | ₹11 cr | ₹10 cr | +7.88% |
| Depreciation | ₹1 cr | ₹0 cr | +6.12% |
| Profit before tax | ₹6 cr | ₹8 cr | -27.90% |
| Tax | ₹1 cr | ₹2 cr | -26.26% |
| Net profit | ₹4 cr | ₹6 cr | -28.47% |
| EPS (₹) | ₹1.93 | ₹2.70 | -28.52% |
Operating margin of 79.38% compares with a Financial Services sector median of 50.60% across 79 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 79.38% after the 2.66-percentage-point sequential decline.
- Whether revenue recovers from the 4.11% quarter-on-quarter fall.
- Whether interest expense growth moderates from 7.88%.