Revenue grew 35.78%, but SecureKloud's operating margin stayed at -37.67%
Expenses grew 33.88% QoQ and the standalone net loss widened 8.84%; the results were filed after market close.
Filed 11 Nov 2026, 18:47 IST · after market close · SecureKloud Technologies Ltd (SECURKLOUD)
Key takeaways
- Standalone revenue grew +35.78% QoQ while expenses rose +33.88%, improving operating margin by 1.87 percentage points but not ending the operating loss.
- The standalone net loss widened +8.84% QoQ, with EPS at Rs -0.96.
- SecureKloud's -37.67% operating margin was 53.89 percentage points below the Information Technology peer median and ranked third from the bottom among 74 companies.
Price around the results
Revenue growth narrowed the operating margin deficit
SecureKloud's standalone revenue grew +35.78% QoQ, faster than the +33.88% increase in expenses. That lifted operating margin by 1.87 percentage points to -37.67%, although the operating loss still widened +29.07% because the larger revenue base was not enough to offset the cost base. The quarter's net loss widened +8.84% QoQ.
Higher interest added to the earnings pressure
Interest expense rose +15.00% QoQ while depreciation was unchanged, adding pressure below operating profit. The tax rate increased by 6.75 percentage points to 8.11%, and the negative tax line provided a benefit to reported net profit despite the pre-tax loss. Other income contributed only -3.74% of pre-tax profit, so it did not materially support earnings.
Margin remained near the bottom of the IT peer set
Among 74 Information Technology companies that had reported, SecureKloud's -37.67% operating margin was 53.89 percentage points below the sector median of 16.22%. It ranked third from the bottom, making the margin gap more significant than the 1.87-percentage-point QoQ improvement.
After-market filing leaves the reaction for later
The standalone results were filed at 18:47 IST, after market close. The stock response is therefore not part of this update.
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 | ₹8 cr | ₹6 cr | +35.78% |
| Other income | ₹0 cr | ₹-0 cr | — |
| Expenses | ₹11 cr | ₹8 cr | +33.88% |
| Operating profit | ₹-3 cr | ₹-2 cr | -29.07% |
| Operating margin (%) | -37.67% | -39.54% | — |
| Interest | ₹0 cr | ₹0 cr | +15.00% |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹-3 cr | ₹-3 cr | -16.78% |
| Tax | ₹-0 cr | ₹-0 cr | -600.00% |
| Net profit | ₹-3 cr | ₹-3 cr | -8.84% |
| EPS (₹) | ₹-0.96 | ₹-0.88 | -9.09% |
Operating margin of -37.67% compares with a Information Technology sector median of 16.22% across 74 peers that have reported Q2FY27.
What to watch
- Whether operating margin moves above -37.67% next quarter.
- Whether expense growth stays below the +35.78% QoQ revenue growth rate.
- Whether interest expense moderates after its +15.00% QoQ increase.