UCAL’s operating profit was cut sharply by interest and depreciation
The company reported Rs 19.39 cr of operating profit but only Rs 5.84 cr of consolidated net profit after finance costs, depreciation and tax.
Filed 13 Aug 2026, 12:10 IST · UCAL (UCAL)
Key takeaways
- UCAL reported consolidated Q1FY27 operating profit of Rs 19.39 cr, while profit before tax was Rs 7.9 cr after Rs 6.99 cr of interest and Rs 6.2 cr of depreciation.
- Consolidated net profit was Rs 5.84 cr after a 26.11% tax rate, resulting in EPS of Rs 2.64.
- Other income of Rs 1.7 cr contributed to the consolidated profit before tax of Rs 7.9 cr.
Operating profit leaves limited room below the line
UCAL’s consolidated revenue of Rs 203.15 cr produced an operating margin of 9.54%. The gap between operating profit of Rs 19.39 cr and profit before tax of Rs 7.9 cr reflects the substantial burden from interest and depreciation.
Interest and depreciation drove the profit conversion
Interest expense was Rs 6.99 cr and depreciation was Rs 6.2 cr, together absorbing much of operating profit before tax. Other income of Rs 1.7 cr provided a non-operating contribution, so reported pre-tax earnings were not solely generated by operations.
Tax reduced earnings further
A 26.11% tax rate reduced profit before tax of Rs 7.9 cr to consolidated net profit of Rs 5.84 cr. Basic EPS for the quarter was Rs 2.64, making the below-operating-line cost structure important to the reported per-share result.
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 | ₹203 cr |
| Other income | ₹2 cr |
| Expenses | ₹184 cr |
| Operating profit | ₹19 cr |
| Operating margin (%) | 9.54% |
| Interest | ₹7 cr |
| Depreciation | ₹6 cr |
| Profit before tax | ₹8 cr |
| Tax | ₹2 cr |
| Net profit | ₹6 cr |
| EPS (₹) | ₹2.64 |
What to watch
- Whether operating margin holds at 9.54% or changes with the next quarter’s revenue and expense mix.
- Interest expense relative to Rs 6.99 cr and depreciation relative to Rs 6.2 cr.
- Whether the tax rate moves from 26.11% and how that affects EPS from Rs 2.64.