Tax credit lifts NDL's Q1 net profit above pre-tax profit
Standalone operating profit was Rs 24.38 cr, while a negative tax rate of -43.44% raised net profit to Rs 14.80 cr.
Filed 12 Aug 2026, 15:21 IST · NDL (NDL)
Key takeaways
- A tax credit of Rs 4.48 cr lifted net profit to Rs 14.80 cr, above profit before tax of Rs 10.32 cr.
- Operating profit was Rs 24.38 cr on revenue of Rs 622.39 cr, leaving operating margin at 3.92%.
- Interest of Rs 4.86 cr and depreciation of Rs 11.63 cr absorbed a substantial part of operating profit before tax.
Tax credit shapes the quarter's profit
NDL reported standalone revenue of Rs 622.39 cr and operating profit of Rs 24.38 cr in Q1FY27. After interest of Rs 4.86 cr and depreciation of Rs 11.63 cr, profit before tax was Rs 10.32 cr. The Rs 4.48 cr tax credit lifted net profit to Rs 14.80 cr, so reported earnings were flattered by the tax line.
Low operating margin leaves limited cushion
Expenses of Rs 598.01 cr consumed most of revenue, resulting in an operating margin of 3.92%. The gap between operating profit and profit before tax was narrowed by both interest and depreciation. Other income of Rs 2.43 cr was present, but the main distortion to net profit came from the tax credit rather than this line.
No comparative or market-response signal yet
The quarter has no sequential or year-on-year comparison in the reported set, and there is no multi-quarter trend to establish direction. There is also no post-results stock reaction history available for this filing, so the quarter is best read through its operating margin and tax-adjusted profit quality.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹622 cr |
| Other income | ₹2 cr |
| Expenses | ₹598 cr |
| Operating profit | ₹24 cr |
| Operating margin (%) | 3.92% |
| Interest | ₹5 cr |
| Depreciation | ₹12 cr |
| Profit before tax | ₹10 cr |
| Tax | ₹-4 cr |
| Net profit | ₹15 cr |
| EPS (₹) | ₹0.10 |
What to watch
- Whether operating margin moves from 3.92% in the next reported quarter.
- Whether net profit remains above profit before tax of Rs 10.32 cr without a tax credit of Rs 4.48 cr.
- Whether interest of Rs 4.86 cr and depreciation of Rs 11.63 cr continue to absorb operating profit of Rs 24.38 cr.