Interest and depreciation sharply narrowed Rane Holdings’ Q1 profit conversion
The consolidated quarter produced Rs 107.14 cr of operating profit, but Rs 20.07 cr of interest and Rs 54.58 cr of depreciation reduced profit before tax to Rs 60.58 cr.
Filed 13 Aug 2026, 16:05 IST · after market close · RANEHOLDIN (RANEHOLDIN)
Key takeaways
- Consolidated Q1FY27 net profit of Rs 48.27 cr came after Rs 107.14 cr operating profit was reduced by Rs 20.07 cr interest and Rs 54.58 cr depreciation.
- Operating margin was 6.75%, while expenses of Rs 1,479.74 cr absorbed most of revenue of Rs 1,586.88 cr.
- Other income of Rs 28.09 cr was a material support to profit before tax of Rs 60.58 cr.
Operating profit did not fully convert into earnings
Rane Holdings reported consolidated revenue of Rs 1,586.88 cr and operating profit of Rs 107.14 cr in Q1FY27. The Rs 54.58 cr depreciation charge and Rs 20.07 cr interest cost together took a substantial portion of operating profit before tax. Profit before tax was therefore Rs 60.58 cr, with net profit at Rs 48.27 cr.
Cost base kept operating margin at 6.75%
Expenses of Rs 1,479.74 cr were the main constraint on operating profitability, leaving an operating margin of 6.75%. The quarter also included Rs 28.09 cr of other income, which provided a material contribution to profit before tax. Tax was Rs 12.31 cr, resulting in a reported tax rate of 20.32%.
Results were filed after market close
The consolidated results were filed on 13 August 2026 at 16:05 IST, after the market closed. There is no reported post-results stock reaction to assess, and no quarter-on-quarter or year-on-year comparison is available in this release.
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 | ₹1,587 cr |
| Other income | ₹28 cr |
| Expenses | ₹1,480 cr |
| Operating profit | ₹107 cr |
| Operating margin (%) | 6.75% |
| Interest | ₹20 cr |
| Depreciation | ₹55 cr |
| Profit before tax | ₹61 cr |
| Tax | ₹12 cr |
| Net profit | ₹48 cr |
| EPS (₹) | ₹26.17 |
What to watch
- Whether operating margin moves from 6.75% in the next reported quarter.
- Whether interest remains near Rs 20.07 cr relative to operating profit of Rs 107.14 cr.
- Whether other income remains a material contributor from its Q1FY27 level of Rs 28.09 cr.