MWL reports Rs 7.84 cr operating loss but Rs 12.02 cr net profit
The consolidated quarter had a -2.48% operating margin, while other income was Rs 0.64 cr and tax rate was 5.53%.
Filed 24 Jul 2026, 18:45 IST · after market close · MWL (MWL)
Key takeaways
- MWL reported a consolidated operating loss of Rs 7.84 cr in Q1FY27, with operating margin at -2.48%.
- Despite the operating loss, reported profit before tax was Rs 12.73 cr and net profit was Rs 12.02 cr.
- The reported tax rate was 5.53%, so tax absorbed only Rs 0.70 cr of pre-tax profit.
Revenue did not cover the cost base
MWL's consolidated expenses of Rs 324.05 cr exceeded revenue of Rs 316.22 cr, resulting in an operating loss of Rs 7.84 cr. The operating margin consequently stood at -2.48%, making cost absorption the central issue in the quarter.
Reported profit was disconnected from operations
The company reported profit before tax of Rs 12.73 cr despite the operating loss, creating the quarter's main profit-quality question. Other income of Rs 0.64 cr was small relative to reported pre-tax profit and does not explain the profit on its own. The 5.53% tax rate reduced pre-tax profit by only Rs 0.70 cr, leaving net profit at Rs 12.02 cr.
Results were filed after market close
MWL filed these consolidated Q1FY27 results after market close on 24 July 2026. No post-results stock reaction is covered here.
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 | ₹316 cr |
| Other income | ₹1 cr |
| Expenses | ₹324 cr |
| Operating profit | ₹-8 cr |
| Operating margin (%) | -2.48% |
| Interest | ₹14 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹13 cr |
| Tax | ₹1 cr |
| Net profit | ₹12 cr |
| EPS (₹) | ₹4.01 |
What to watch
- Whether operating margin improves from -2.48%.
- Whether expenses fall below revenue of Rs 316.22 cr.
- Whether reported profit before tax remains above the operating-profit level of -Rs 7.84 cr.