RMDRIP revenue falls 28.32% QoQ as operating margin drops 6.33 points
Expenses declined 22.49%, less than revenue, while a higher tax rate deepened the 64.78% fall in consolidated net profit.
Filed 09 Nov 2026, 14:46 IST · RMDRIP (RMDRIP)
Key takeaways
- Consolidated revenue fell 28.32% sequentially to Rs 28.95 cr, while expenses declined only 22.49%, cutting operating margin by 6.33 percentage points.
- Net profit dropped 64.78% to Rs 1.87 cr as the tax rate rose 8.59 percentage points to 32.74%.
- Other income contributed 9.35% of pre-tax profit, but could not offset the 60.29% sequential fall in pre-tax profit.
Revenue contraction put pressure on Q2 profitability
Consolidated revenue fell 28.32% sequentially to Rs 28.95 cr, and operating profit declined 48.77% to Rs 4.58 cr. The sharper fall in operating profit than revenue reflects the weaker operating leverage in the quarter. Pre-tax profit fell 60.29% to Rs 2.78 cr.
Expenses fell slower than revenue and tax rate rose
Expenses declined 22.49%, less than the 28.32% fall in revenue, so operating margin narrowed 6.33 percentage points from Q1FY27. Interest expense fell 2.56%, but depreciation rose 5.81%, adding to the pressure below operating profit. The tax rate increased 8.59 percentage points to 32.74%, which further reduced the conversion of pre-tax profit into net profit.
Other income was material but did not change the quarter's picture
Other income rose 225.00% sequentially to Rs 0.26 cr and represented 9.35% of pre-tax profit. That contribution was not enough to offset the operating decline and higher tax rate. With only Q1FY27 available in the trend, the quarter establishes a sequential margin decline from 22.15% to 15.82%, rather than a multi-quarter direction.
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 | ₹29 cr | ₹40 cr | -28.32% |
| Other income | ₹0 cr | ₹0 cr | +225.00% |
| Expenses | ₹24 cr | ₹31 cr | -22.49% |
| Operating profit | ₹5 cr | ₹9 cr | -48.77% |
| Operating margin (%) | 15.82% | 22.15% | — |
| Interest | ₹1 cr | ₹1 cr | -2.56% |
| Depreciation | ₹1 cr | ₹1 cr | +5.81% |
| Profit before tax | ₹3 cr | ₹7 cr | -60.29% |
| Tax | ₹1 cr | ₹2 cr | -46.15% |
| Net profit | ₹2 cr | ₹5 cr | -64.78% |
| EPS (₹) | ₹0.04 | ₹0.42 | -90.48% |
What to watch
- Whether revenue recovers from Rs 28.95 cr after the 28.32% sequential decline.
- Whether operating margin returns above the Q1FY27 level of 22.15%.
- Whether the tax rate moves down from 32.74% and reduces the gap between pre-tax profit and net profit.