Revenue jumps 57.05% QoQ as operating margin rises 9.4 points
Expenses grew 40.92%, but the quarter still relied on other income for 16.88% of pre-tax profit.
Filed 28 Oct 2026, 19:31 IST · after market close · SADHNANIQ (SADHNANIQ)
Key takeaways
- Revenue grew 57.05% QoQ while expenses rose 40.92%, lifting operating margin by 9.4 percentage points to 17.92%.
- Net profit returned to Rs 1.37 cr from a Rs 0.55 cr loss in Q1FY27, but other income contributed 16.88% of pre-tax profit.
- Interest expense fell 1.57% QoQ even as depreciation rose 10.58%, leaving pre-tax profit at Rs 1.54 cr.
Revenue growth outpaced the cost base
Consolidated revenue rose 57.05% QoQ to Rs 42.75 cr, while expenses increased 40.92% to Rs 35.09 cr. That gap drove the 9.4 percentage-point expansion in operating margin to 17.92%, with operating profit rising 230.17% to Rs 7.66 cr.
Other income remained material to pre-tax profit
Other income fell 92.99% QoQ to Rs 0.26 cr, but still accounted for 16.88% of pre-tax profit of Rs 1.54 cr. Interest expense was broadly stable, declining 1.57%, while depreciation increased 10.58% to Rs 3.24 cr. The tax rate was 11.04%, compared with -511.11% in Q1FY27, when the company reported a pre-tax loss, making the sequential tax comparison less meaningful.
Operating margin recovered from the Q1 level
Operating margin improved from 8.52% in Q1FY27 to 17.92%, marking a clear quarter-to-quarter recovery. Net profit moved from a Rs 0.55 cr loss to Rs 1.37 cr profit as pre-tax profit turned positive. The consolidated results were filed after market close on 28 October 2026, so no market reaction is covered here.
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 | ₹43 cr | ₹27 cr | +57.05% |
| Other income | ₹0 cr | ₹4 cr | -92.99% |
| Expenses | ₹35 cr | ₹25 cr | +40.92% |
| Operating profit | ₹8 cr | ₹2 cr | +230.17% |
| Operating margin (%) | 17.92% | 8.52% | — |
| Interest | ₹3 cr | ₹3 cr | -1.57% |
| Depreciation | ₹3 cr | ₹3 cr | +10.58% |
| Profit before tax | ₹2 cr | ₹-0 cr | — |
| Tax | ₹0 cr | ₹0 cr | -63.04% |
| Net profit | ₹1 cr | ₹-1 cr | — |
| EPS (₹) | ₹0.00 | ₹0.00 | — |
What to watch
- Whether operating margin holds above 17.92% next quarter.
- Whether expense growth remains below revenue growth after the 40.92% QoQ increase in expenses.
- Whether other income's contribution to pre-tax profit remains around or below 16.88%.