Revenue surged +218.88% QoQ as costs fell -9.60%
Operating margin reached 99.14%, while a 14.05-percentage-point rise in the tax rate limited the conversion of pre-tax profit into net profit.
Filed 03 Nov 2026, 13:57 IST · Summit Securities Ltd (SUMMITSEC)
Key takeaways
- Consolidated revenue rose +218.88% QoQ to Rs 130.39 cr while expenses fell -9.60%.
- Operating margin widened by 2.20 percentage points to 99.14%, placing it 48.54 percentage points above the peer median.
- Net profit rose +174.53% QoQ to Rs 96.88 cr, despite the tax rate increasing by 14.05 percentage points to 25.05%.
Price around the results
Revenue growth drove the profit increase
Summit Securities reported consolidated revenue growth of +218.88% QoQ to Rs 130.39 cr, lifting operating profit by +226.08% to Rs 129.26 cr. Net profit rose +174.53% to Rs 96.88 cr, with EPS increasing +174.54% to Rs 88.87. The profit increase was therefore led by a sharp rise in revenue rather than other income, which was Rs 0.00 cr.
Lower expenses widened an already high margin
Expenses fell -9.60% QoQ even as revenue rose +218.88%, widening operating margin by 2.20 percentage points to 99.14%. Other income contributed 0.00% of pre-tax profit, so there was no other-income boost to profit quality. The tax rate rose by 14.05 percentage points to 25.05%, which explains why net profit growth trailed the +226.00% increase in pre-tax profit.
Margin was well above the Financial Services peer median
Summit Securities’ 99.14% operating margin was 48.54 percentage points above the 50.60% median among 79 Financial Services peers that had reported the quarter. The two-quarter sequence in the data shows margin improving from 96.94% in Q1FY27 to 99.14% in Q2FY27.
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 | ₹130 cr | ₹41 cr | +218.88% |
| Other income | ₹0 cr | ₹0 cr | -100.00% |
| Expenses | ₹1 cr | ₹1 cr | -9.60% |
| Operating profit | ₹129 cr | ₹40 cr | +226.08% |
| Operating margin (%) | 99.14% | 96.94% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | — |
| Profit before tax | ₹129 cr | ₹40 cr | +226.00% |
| Tax | ₹32 cr | ₹4 cr | +642.66% |
| Net profit | ₹97 cr | ₹35 cr | +174.53% |
| EPS (₹) | ₹88.87 | ₹32.37 | +174.54% |
Operating margin of 99.14% compares with a Financial Services sector median of 50.60% across 79 peers that have reported Q2FY27.
What to watch
- Whether operating margin remains near 99.14% in the next quarter.
- Whether expenses stay close to or below Rs 1.13 cr after falling -9.60% QoQ.
- Whether the tax rate moves from 25.05% after its 14.05-percentage-point QoQ increase.