High tax rate leaves PRIMO with Rs 4.68 cr Q1 net profit
Consolidated operating margin was 14.83%, but a 52.71% tax rate and Rs 3.69 cr interest expense reduced profit after tax.
Filed 14 Aug 2026, 17:07 IST · after market close · PRIMO (PRIMO)
Key takeaways
- A 52.71% tax rate weighed on consolidated Q1FY27 net profit of Rs 4.68 cr.
- Operating profit of Rs 20.80 cr translated into a 14.83% operating margin before depreciation, interest and tax.
- Operating profit of Rs 20.80 cr narrowed to profit before tax of Rs 9.90 cr after Rs 13.49 cr depreciation and Rs 3.69 cr interest, despite Rs 6.28 cr of other income.
Q1 profit was reduced below the operating line
PRIMO reported consolidated operating profit of Rs 20.80 cr, but profit before tax was Rs 9.90 cr. Depreciation of Rs 13.49 cr and interest of Rs 3.69 cr more than offset Rs 6.28 cr of other income. The tax charge of Rs 5.22 cr, equivalent to a 52.71% tax rate, left net profit at Rs 4.68 cr.
Operating margin was 14.83% in Q1FY27
Revenue of Rs 140.28 cr generated an operating margin of 14.83% after Rs 119.48 cr of expenses. The key earnings-quality issue is the gap between operating profit and net profit, with depreciation, interest and the elevated tax rate accounting for the reduction. Other income of Rs 6.28 cr also made a meaningful contribution relative to profit before tax of Rs 9.90 cr.
Results were filed after market close
PRIMO filed its consolidated Q1FY27 results at 17:07 IST on 14 August 2026, after market close.
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 | ₹140 cr |
| Other income | ₹6 cr |
| Expenses | ₹119 cr |
| Operating profit | ₹21 cr |
| Operating margin (%) | 14.83% |
| Interest | ₹4 cr |
| Depreciation | ₹13 cr |
| Profit before tax | ₹10 cr |
| Tax | ₹5 cr |
| Net profit | ₹5 cr |
| EPS (₹) | ₹0.19 |
What to watch
- Whether operating margin holds above 14.83%.
- Whether the tax rate moves below 52.71%.
- Whether other income remains close to Rs 6.28 cr.