Interest turned a smaller operating loss into a wider Rs 6.36 cr net loss
Expenses fell 81.12% QoQ, but interest rose from zero to Rs 7.21 cr as revenue stayed at Rs 0 cr.
Filed 11 Sep 2026, 16:30 IST · after market close · SRPL (SRPL)
Key takeaways
- Standalone revenue remained at Rs 0 cr, while expenses fell 81.12% quarter on quarter to Rs 0.47 cr and narrowed the operating loss.
- Interest expense of Rs 7.21 cr, versus nil in Q4FY26, drove the pre-tax loss 142.75% deeper sequentially to Rs 6.36 cr.
- Other income of Rs 1.4 cr offset 22.01% of the pre-tax loss, while the zero tax charge moved the tax rate 14.43 percentage points higher from Q4FY26.
Lower expenses could not offset the absence of revenue
SRPL reported no revenue for the quarter, leaving the business dependent on non-operating income while expenses fell to Rs 0.47 cr from Rs 2.49 cr in Q4FY26. The lower cost base narrowed the operating loss by 81.12% sequentially, but it did not produce operating profit because revenue remained at Rs 0 cr.
Interest became the main source of deterioration
The sequential loss expansion came from Rs 7.21 cr of interest expense, compared with nil in the previous quarter. This more than offset the improvement in operating loss and pushed the pre-tax loss 142.75% deeper. Other income rose to Rs 1.4 cr and offset 22.01% of the pre-tax loss, so reported earnings were not supported by operating activity.
Standalone results were filed after market close
Net loss widened 112.00% sequentially to Rs 6.36 cr, despite the lower expense base, while the tax charge fell to nil from Rs 0.38 cr. The tax-rate movement of 14.43 percentage points did not flatter profit because the company remained loss-making. With only Q4FY26 available for comparison, there is not yet a multi-quarter direction to establish; the standalone results were filed after market close on 11 September 2026.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 | Q4FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0 cr | ₹0 cr | — |
| Other income | ₹1 cr | ₹0 cr | +13900.00% |
| Expenses | ₹0 cr | ₹2 cr | -81.12% |
| Operating profit | ₹-0 cr | ₹-2 cr | +81.12% |
| Interest | ₹7 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | -35.71% |
| Profit before tax | ₹-6 cr | ₹-3 cr | -142.75% |
| Tax | ₹0 cr | ₹0 cr | -100.00% |
| Net profit | ₹-6 cr | ₹-3 cr | -112.00% |
| EPS (₹) | ₹-0.30 | ₹-0.14 | -114.29% |
What to watch
- Whether revenue moves above Rs 0 cr in the next quarter.
- Whether interest expense stays below the current Rs 7.21 cr.
- Whether expenses remain below Rs 0.47 cr and the operating loss narrows further.