Interest and depreciation cut operating profit sharply before tax
Consolidated operating profit was Rs 736.61 cr, but Rs 293.27 cr of interest and Rs 187.25 cr of depreciation reduced profit before tax to Rs 315.18 cr.
Filed 20 Aug 2026, 18:29 IST · after market close · MANIPALHOS (MANIPALHOS)
Key takeaways
- Consolidated operating profit of Rs 736.61 cr translated into a 23.83% operating margin in Q1FY27.
- Interest of Rs 293.27 cr and depreciation of Rs 187.25 cr materially reduced the conversion of operating profit into Rs 243.43 cr of net profit.
- Other income of Rs 59.09 cr contributed to pre-tax profit, so Q1 earnings were not generated solely by operations.
Price around the results
Operating profit did not fully flow through to net profit
The consolidated result generated Rs 736.61 cr of operating profit on revenue of Rs 3,090.63 cr, but net profit was Rs 243.43 cr. Interest of Rs 293.27 cr and depreciation of Rs 187.25 cr were the main reported charges between operating profit and profit before tax.
Other income supported the pre-tax result
Other income of Rs 59.09 cr added to the Rs 315.18 cr profit before tax. This means the quarter's pre-tax earnings included a non-operating contribution alongside the hospital business's operating profit. The reported tax rate was 22.76%, with tax expense at Rs 71.75 cr.
No sequential, annual or market comparison is available yet
The results were filed after market close on 20 Aug 2026, so there is no post-result stock move to assess. The quarter also has no reported year-on-year or sequential comparison, leaving the next disclosure to establish the direction of revenue, margins and financing costs.
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 | ₹3,091 cr |
| Other income | ₹59 cr |
| Expenses | ₹2,354 cr |
| Operating profit | ₹737 cr |
| Operating margin (%) | 23.83% |
| Interest | ₹293 cr |
| Depreciation | ₹187 cr |
| Profit before tax | ₹315 cr |
| Tax | ₹72 cr |
| Net profit | ₹243 cr |
| EPS (₹) | ₹1.96 |
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -1.25% | -1.33% |
| Next session | +2.31% | — |
| 5 sessions | +6.53% | +6.76% |
| 15 sessions | -0.97% | — |
Volume on the results session was 0.27× its 20-day average.
What to watch
- Whether operating margin holds above 23.83%.
- Whether interest remains below Rs 293.27 cr.
- Whether other income remains a contributor alongside operating profit of Rs 736.61 cr.