Odigma slips into operating loss as revenue falls 10.80% QoQ
Expenses declined 9.65%, less than the 10.80% revenue drop, while other income supported reported profit.
Filed 27 Oct 2026, 12:53 IST · Odigma Consultancy Solutions Ltd (ODIGMA)
Key takeaways
- Standalone operating profit slipped into a Rs 0.05 cr loss as revenue fell 10.80% QoQ and expenses declined only 9.65%.
- Net profit fell 13.33% QoQ to Rs 0.13 cr, with other income equal to 261.11% of profit before tax.
- The stock rose 3.45% on the result date despite opening with a 3.39% gap-down.
Price around the results
Revenue decline pushes operations into the red
Odigma Consultancy Solutions reported standalone revenue of Rs 10.99 cr in Q2FY27, down 10.80% QoQ, while expenses fell 9.65%. Because costs declined more slowly than revenue, operating profit moved from Rs 0.09 cr to a Rs 0.05 cr loss. This reduced operating margin by 1.19 percentage points to -0.46%.
Reported profit depended heavily on other income
Other income rose 46.87% QoQ, while depreciation increased 9.09%, leaving profit before tax down 10.00% at Rs 0.18 cr. Other income represented 261.11% of profit before tax, so the quarter's positive net profit was not generated by operations alone. The tax rate also rose by 1.12 percentage points to 25.16%, adding to the pressure on net profit.
Operating margin was lowest among 25 reported IT peers
There is no year-on-year comparison in the reported period, but the sequential trend shows a fall from 0.73% operating margin in Q1FY27 to -0.46% in Q2FY27. Among 25 Information Technology peers that had reported the same quarter, Odigma's margin was 19.96 percentage points below the 19.50% median and ranked lowest.
Shares gained after an initially weak open
The stock rose 3.45% on the result date, although it opened with a 3.39% gap-down. The move was accompanied by a 1.13 times volume ratio, while the stock's reaction relative to the market was 3.46%.
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 | ₹11 cr | ₹12 cr | -10.80% |
| Other income | ₹0 cr | ₹0 cr | +46.87% |
| Expenses | ₹11 cr | ₹12 cr | -9.65% |
| Operating profit | ₹-0 cr | ₹0 cr | — |
| Operating margin (%) | -0.46% | 0.73% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | +9.09% |
| Profit before tax | ₹0 cr | ₹0 cr | -10.00% |
| Tax | ₹0 cr | ₹0 cr | -20.00% |
| Net profit | ₹0 cr | ₹0 cr | -13.33% |
| EPS (₹) | ₹0.04 | ₹0.05 | -20.00% |
Operating margin of -0.46% compares with a Information Technology sector median of 19.50% across 25 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +3.45% | +3.46% |
Volume on the results session was 1.13× its 20-day average.
What to watch
- Whether revenue recovers from the Rs 10.99 cr reported in Q2FY27.
- Whether operating margin returns above the Q1FY27 level of 0.73%.
- Whether profit before tax remains positive without other income exceeding 261.11% of it.