SCPL revenue halves QoQ, but faster cost cuts lift operating margin
Net profit fell 53.65% as the tax rate rose to 33.00%, while lower interest expense provided some relief.
Filed 07 Nov 2026, 14:14 IST · after market close · SCPL (SCPL)
Key takeaways
- Standalone revenue fell 50.76% QoQ to Rs 65.31 cr, while expenses declined 52.01%, limiting the operating-profit fall to 40.20%.
- Operating margin improved 2.27 percentage points to 12.81% as expenses fell faster than revenue, reversing the decline seen in Q1FY27.
- Net profit declined 53.65% to Rs 3.24 cr as the tax rate rose 7.79 percentage points to 33.00%, despite a 37.99% fall in interest costs.
Sharp sequential contraction in standalone revenue
SCPL's standalone revenue fell 50.76% QoQ to Rs 65.31 cr, and operating profit declined 40.20% to Rs 8.36 cr. The sharper 52.01% fall in expenses partly cushioned the effect of the lower revenue base, but net profit still fell 53.65% to Rs 3.24 cr.
Lower costs lifted margin, while tax pressure cut earnings
Expenses fell faster than revenue, lifting operating margin by 2.27 percentage points to 12.81%. Interest costs fell 37.99%, but the tax rate increased 7.79 percentage points to 33.00%, weighing on the conversion of pre-tax profit into net profit. Other income was Rs 0, so reported profit received no support from non-operating income.
Margin rebounds after Q1FY27 dip
Operating margin moved from 11.46% in Q4FY26 to 10.54% in Q1FY27 before recovering to 12.81% in Q2FY27. This marks a rebound after one quarter of sequential margin decline, but there is no year-on-year comparison in the reported figures.
Results filed after market close
The standalone results were filed after market close, so there is no market reaction to assess yet. The stock's response cannot be compared with its post-results history from the available information.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹65 cr | ₹133 cr | -50.76% |
| Other income | ₹0 cr | ₹0 cr | -100.00% |
| Expenses | ₹57 cr | ₹119 cr | -52.01% |
| Operating profit | ₹8 cr | ₹14 cr | -40.20% |
| Operating margin (%) | 12.81% | 10.54% | — |
| Interest | ₹1 cr | ₹2 cr | -37.99% |
| Depreciation | ₹2 cr | ₹2 cr | -12.08% |
| Profit before tax | ₹5 cr | ₹9 cr | -48.34% |
| Tax | ₹2 cr | ₹2 cr | -32.20% |
| Net profit | ₹3 cr | ₹7 cr | -53.65% |
| EPS (₹) | ₹3.08 | ₹6.66 | -53.75% |
What to watch
- Whether revenue recovers from the Q2FY27 level of Rs 65.31 cr.
- Whether operating margin holds above 12.81% after the Q2FY27 rebound.
- Whether the tax rate moves back from 33.00% toward the Q1FY27 level of 25.21%.