Revenue jumps, but higher costs and interest cut Reliable Data profit
Consolidated revenue rose +36.60% QoQ, but faster expense growth and a 114.71% rise in interest reduced earnings.
Filed 12 Nov 2026, 17:45 IST · after market close · Reliable Data Services Ltd (RELIABLE)
Key takeaways
- Consolidated revenue rose +36.60% QoQ, but expenses grew faster at +39.71%, cutting operating margin by 2.10 percentage points to 5.82%.
- Consolidated net profit fell -26.36% QoQ as interest expense jumped +114.71%, while the tax rate stayed at 26.00%.
- At 5.82%, operating margin was 45.79 percentage points below the 51.61% median for 118 Financial Services peers.
Price around the results
Revenue growth did not translate to profit
In consolidated Q2FY27, revenue increased +36.60% QoQ to Rs 78.64 cr, but operating profit rose only +0.44% to Rs 4.58 cr. Net profit declined -26.36% to Rs 1.76 cr, showing that the higher revenue base did not carry through to earnings.
Faster costs and financing expense squeezed margins
Expenses grew +39.71% QoQ, outpacing revenue growth and reducing operating margin by 2.10 percentage points to 5.82%. Interest expense rose +114.71% to Rs 1.46 cr, while depreciation increased +27.59% to Rs 0.74 cr. Other income contributed 0.00% of pre-tax profit, and the unchanged 26.00% tax rate did not flatter the profit comparison.
Margin fell from Q1 and sits well below sector peers
Operating margin declined from 7.92% in Q1FY27 to 5.82% in Q2FY27, a sequential deterioration rather than an isolated level comparison. Among 118 Financial Services companies that reported the quarter, Reliable Data's margin was 45.79 percentage points below the 51.61% sector median and ranked 12th from the bottom.
Results were filed after the market close
The consolidated results were filed at 17:45 IST on 12 Nov 2026, after market close. The stock's post-results response is therefore too fresh to place against its historical reaction pattern.
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 | ₹79 cr | ₹58 cr | +36.60% |
| Other income | ₹0 cr | ₹-0 cr | — |
| Expenses | ₹74 cr | ₹53 cr | +39.71% |
| Operating profit | ₹5 cr | ₹5 cr | +0.44% |
| Operating margin (%) | 5.82% | 7.92% | — |
| Interest | ₹1 cr | ₹1 cr | +114.71% |
| Depreciation | ₹1 cr | ₹1 cr | +27.59% |
| Profit before tax | ₹2 cr | ₹3 cr | -26.32% |
| Tax | ₹1 cr | ₹1 cr | -26.19% |
| Net profit | ₹2 cr | ₹2 cr | -26.36% |
| EPS (₹) | ₹1.71 | ₹2.32 | -26.29% |
Operating margin of 5.82% compares with a Financial Services sector median of 51.61% across 118 peers that have reported Q2FY27.
What to watch
- Whether operating margin recovers from 5.82% after the 2.10-percentage-point QoQ decline.
- Whether interest expense moves down from Rs 1.46 cr after rising +114.71% QoQ.
- Whether expense growth falls below the +39.71% QoQ pace recorded this quarter.