Sky Gold’s margin edges up, but remains below the sector median
Net profit rose +23.31% QoQ as revenue growth slightly outpaced expenses; the results were filed after market close.
Filed 27 Oct 2026, 17:43 IST · after market close · Sky Gold & Diamonds Ltd (SKYGOLD)
Key takeaways
- Consolidated revenue rose +18.77% QoQ while expenses grew +18.58%, lifting operating margin by 0.15 percentage points to 7.94%.
- Net profit increased +23.31% QoQ to Rs 129.35 cr as the tax rate eased by 0.09 percentage points and interest rose only +0.59%.
- Sky Gold’s 7.94% operating margin was 4.28 percentage points below the 12.22% median for 65 reporting Consumer Discretionary peers.
Price around the results
Revenue momentum lifted consolidated Q2FY27 profit
Revenue growth of +18.77% QoQ slightly exceeded expense growth of +18.58%, allowing operating profit to grow faster at +21.08%. Net profit rose +23.31% to Rs 129.35 cr, while EPS increased +23.84% to Rs 8.26. The results were filed after market close, so there is no immediate market reaction to assess.
Slightly slower cost growth supported the margin
Operating margin improved by 0.15 percentage points to 7.94% because expenses grew marginally slower than revenue. The tax rate declined by 0.09 percentage points to 22.09%, providing a small lift to net profit, while interest expense increased only +0.59%. Other income accounted for 4.26% of profit before tax, so it was not the main earnings driver.
Margin improved sequentially but trails sector peers
The available sequential direction was positive, with operating margin rising from 7.79% in Q1FY27 to 7.94% in Q2FY27. Even so, Sky Gold’s margin was 4.28 percentage points below the 12.22% median among 65 Consumer Discretionary peers that had reported.
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 | ₹2,391 cr | ₹2,013 cr | +18.77% |
| Other income | ₹7 cr | ₹8 cr | -10.94% |
| Expenses | ₹2,201 cr | ₹1,856 cr | +18.58% |
| Operating profit | ₹190 cr | ₹157 cr | +21.08% |
| Operating margin (%) | 7.94% | 7.79% | — |
| Interest | ₹26 cr | ₹25 cr | +0.59% |
| Depreciation | ₹5 cr | ₹5 cr | +17.44% |
| Profit before tax | ₹166 cr | ₹135 cr | +23.17% |
| Tax | ₹37 cr | ₹30 cr | +22.68% |
| Net profit | ₹129 cr | ₹105 cr | +23.31% |
| EPS (₹) | ₹8.26 | ₹6.67 | +23.84% |
Operating margin of 7.94% compares with a Consumer Discretionary sector median of 12.22% across 65 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 7.94% in the next quarter.
- Whether expense growth remains below the current +18.77% revenue growth rate.
- Whether the 4.28 percentage-point gap to the sector median narrows.