Negative other income drives Punj Lloyd’s Q2 loss to Rs 720.76 cr
Revenue declined while expenses increased sequentially, but the main deterioration came from other income swinging to a Rs 709.27 cr loss.
Filed 03 Nov 2026, 17:20 IST · after market close · PUNJLLOYD (PUNJLLOYD)
Key takeaways
- Punj Lloyd’s consolidated pre-tax loss widened to Rs 720.76 cr as other income turned negative at Rs 709.27 cr.
- Revenue fell 16.20% sequentially while expenses rose 9.75%, pushing operating margin down 45.06 percentage points.
- The quarter’s net loss of Rs 720.76 cr compares with Rs 7.66 cr in Q1FY27, with the tax rate unchanged at 0.00%.
Other income dominated the consolidated loss
Punj Lloyd’s consolidated profit before tax fell to a loss of Rs 720.76 cr from Rs 7.66 cr in Q1FY27. Other income moved from Rs 2.84 cr to negative Rs 709.27 cr, and accounted for 98.41% of pre-tax profit on the reported measure. With tax remaining at 0.00%, the entire pre-tax loss flowed through to net profit.
Lower revenue met higher expenses
Revenue declined 16.20% sequentially, while expenses increased 9.75%, so costs grew as revenue contracted. That combination pushed operating profit further into loss and narrowed operating margin by 45.06 percentage points to negative 90.52%. The operating deterioration was therefore material even before the large other-income loss.
Operating margin worsened sharply from Q1
The operating margin moved from negative 45.46% in Q1FY27 to negative 90.52% in Q2FY27, marking a second consecutive quarter of negative margin in the available trend. Net loss also widened from Rs 7.66 cr to Rs 720.76 cr sequentially, but the scale of that change was primarily driven by other income rather than interest or tax.
Results were filed after market close
The consolidated results were filed after market close on 03 Nov 2026. There is no market reaction to assess yet.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹13 cr | ₹16 cr | -16.20% |
| Other income | ₹-709 cr | ₹3 cr | — |
| Expenses | ₹25 cr | ₹23 cr | +9.75% |
| Operating profit | ₹-12 cr | ₹-7 cr | -66.85% |
| Operating margin (%) | -90.52% | -45.46% | — |
| Interest | ₹-1 cr | ₹3 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | -100.00% |
| Profit before tax | ₹-721 cr | ₹-8 cr | -9309.40% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-721 cr | ₹-8 cr | -9309.40% |
| EPS (₹) | ₹-14382.34 | ₹-153.06 | -9296.54% |
What to watch
- Whether operating margin improves from negative 90.52% in the next quarter.
- Whether other income moves back from negative Rs 709.27 cr toward a non-negative contribution.
- Whether expenses stop rising after the 9.75% sequential increase.