Revenue jumped 44.32%, but Rs 16.58 cr depreciation kept OILCOUNTUB in loss
Standalone operating margin improved 8.87 percentage points sequentially, yet depreciation remained far above operating profit and kept pre-tax profit negative.
Filed 05 Nov 2026, 13:46 IST · OILCOUNTUB (OILCOUNTUB)
Key takeaways
- Standalone revenue rose 44.32% quarter on quarter to Rs 25.17 cr, while expenses grew slower at 30.62%, lifting operating margin by 8.87 percentage points.
- The company still reported a standalone net loss of Rs 12.39 cr because depreciation of Rs 16.58 cr outweighed operating profit of Rs 3.84 cr.
- The net loss narrowed 18.00% quarter on quarter to Rs 12.39 cr, but interest expense increased 93.75% to Rs 0.31 cr.
Revenue recovered sharply, but the loss persisted
Standalone revenue increased 44.32% quarter on quarter to Rs 25.17 cr, while expenses rose 30.62%, so the faster revenue growth translated into a 245.95% increase in operating profit. That improvement was not enough to offset Rs 16.58 cr of depreciation against Rs 3.84 cr of operating profit. Pre-tax loss narrowed from Rs 15.24 cr to Rs 12.75 cr, while net loss narrowed to Rs 12.39 cr.
Margin expanded, while depreciation remained the main drag
Operating margin improved by 8.87 percentage points to 15.24% because expenses grew more slowly than revenue. Interest expense rose 93.75% quarter on quarter to Rs 0.31 cr, adding pressure but remaining much smaller than depreciation. Other income was Rs 0.30 cr and accounted for -2.35% of pre-tax profit, so the reported loss was not materially supported by non-operating income.
Sequential improvement came from operations, not below-the-line items
The quarter-on-quarter improvement in net loss and EPS reflects the stronger operating result, as depreciation was broadly unchanged at Rs 16.58 cr versus Rs 16.59 cr in the previous quarter. The tax rate increased by 1.95 percentage points to 2.85%, limiting the effect of the tax line on the reported result. The available trend shows operating margin moving up from 6.37% in Q1FY27 to 15.24% in Q2FY27.
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 | ₹25 cr | ₹17 cr | +44.32% |
| Other income | ₹0 cr | ₹0 cr | -25.00% |
| Expenses | ₹21 cr | ₹16 cr | +30.62% |
| Operating profit | ₹4 cr | ₹1 cr | +245.95% |
| Operating margin (%) | 15.24% | 6.37% | — |
| Interest | ₹0 cr | ₹0 cr | +93.75% |
| Depreciation | ₹17 cr | ₹17 cr | -0.06% |
| Profit before tax | ₹-13 cr | ₹-15 cr | +16.34% |
| Tax | ₹-0 cr | ₹-0 cr | -157.14% |
| Net profit | ₹-12 cr | ₹-15 cr | +18.00% |
| EPS (₹) | ₹-2.33 | ₹-2.90 | +19.66% |
What to watch
- Whether operating margin holds above 15.24% in the next quarter.
- Whether depreciation remains close to Rs 16.58 cr while operating profit improves.
- Whether interest expense falls back from Rs 0.31 cr.