SPCENET posts operating loss as other income drives Q1 profit
Other income exceeded profit before tax, leaving the Rs 13.76 cr net profit reliant on non-operating income.
Filed 14 Aug 2026, 17:00 IST · after market close · SPCENET (SPCENET)
Key takeaways
- SPCENET reported a Rs 0.87 cr operating loss despite Rs 48.88 cr of consolidated revenue in Q1FY27.
- Other income of Rs 19.85 cr exceeded the Rs 16.37 cr profit before tax, making reported profit heavily dependent on non-operating income.
- Net profit was Rs 13.76 cr at a 15.91% tax rate, while EPS stood at Rs 0.23.
Operating business remained loss-making
SPCENET's consolidated operating profit was negative at Rs 0.87 cr, producing an operating margin of -1.79%. The company nevertheless reported Rs 13.76 cr of net profit because other income was Rs 19.85 cr.
Profit quality is the central issue
Other income of Rs 19.85 cr was higher than the Rs 16.37 cr profit before tax, so the reported profit was not generated by the operating business alone. Interest of Rs 0.99 cr and depreciation of Rs 1.62 cr were additional costs below operating profit, while the 15.91% tax rate reduced the pre-tax result to Rs 13.76 cr of net profit.
No comparison or market reaction yet
The filing provides no year-on-year or sequential comparison, and no multi-quarter trend is available to establish whether the operating loss is a continuation or a change in direction. The consolidated results were filed after market close on 14 Aug 2026, so there is no reported market reaction yet.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹49 cr |
| Other income | ₹20 cr |
| Expenses | ₹50 cr |
| Operating profit | ₹-1 cr |
| Operating margin (%) | -1.79% |
| Interest | ₹1 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹16 cr |
| Tax | ₹3 cr |
| Net profit | ₹14 cr |
| EPS (₹) | ₹0.23 |
What to watch
- Whether operating margin moves above the Q1FY27 level of -1.79%.
- Whether other income remains close to or below Rs 19.85 cr.
- Whether the tax rate stays near 15.91% as operating profitability changes.