PNB Gilts posts Rs 44.84 cr profit after Rs 342.16 cr interest cost
Standalone operating profit was Rs 402.54 cr, while a 25.57% tax rate reduced profit before tax of Rs 60.24 cr to net profit.
Filed 13 Oct 2026, 13:04 IST · PNB Gilts Ltd (PNBGILTS)
Key takeaways
- PNB Gilts reported standalone Q2FY27 net profit of Rs 44.84 cr after Rs 342.16 cr of interest cost.
- Operating profit was Rs 402.54 cr on revenue of Rs 436.32 cr, implying that interest was the main deduction before tax.
- Other income was only Rs 0.45 cr against standalone profit before tax of Rs 60.24 cr, limiting its contribution to earnings quality.
Price around the results
Operating profit remained large relative to revenue
PNB Gilts reported standalone revenue of Rs 436.32 cr and operating profit of Rs 402.54 cr in Q2FY27. Expenses were Rs 33.78 cr, leaving an operating margin of 92.26%. With no quarter-on-quarter or year-on-year comparison in this release, the absolute cost and margin levels are the main read-through.
Interest was the central earnings deduction
Interest cost of Rs 342.16 cr was the main charge between operating profit and profit before tax of Rs 60.24 cr. Other income contributed only Rs 0.45 cr, so pre-tax earnings were not materially supported by that line. Tax of Rs 15.4 cr, at a 25.57% tax rate, brought standalone net profit to Rs 44.84 cr and EPS to Rs 2.49.
The quarter sets benchmarks for the next reported period
The key operating reference points are the 92.26% operating margin, Rs 342.16 cr interest cost and Rs 44.84 cr standalone net profit. The absence of comparative data means the next reported quarter will provide the first clear read on direction in these measures.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹436 cr |
| Other income | ₹0 cr |
| Expenses | ₹34 cr |
| Operating profit | ₹403 cr |
| Operating margin (%) | 92.26% |
| Interest | ₹342 cr |
| Depreciation | ₹1 cr |
| Profit before tax | ₹60 cr |
| Tax | ₹15 cr |
| Net profit | ₹45 cr |
| EPS (₹) | ₹2.49 |
What to watch
- Whether operating margin holds above 92.26%.
- Whether interest cost remains close to or below Rs 342.16 cr.
- Whether net profit moves from the Rs 44.84 cr standalone base without relying on other income above Rs 0.45 cr.