Net profit plunges 92.81% QoQ as other income dries up
Operating margin improved marginally, but other income still accounted for 91.5% of consolidated profit before tax.
Filed 13 Nov 2026, 19:13 IST · after market close · UNIVPHOTO (UNIVPHOTO)
Key takeaways
- Consolidated net profit fell 92.81% QoQ to Rs 3.26 cr as other income dropped 92.95%.
- Other income contributed 91.5% of consolidated profit before tax, leaving reported profit heavily dependent on non-operating income.
- Operating margin rose 0.13 percentage points to 14.73% because expenses declined slightly faster than revenue.
Other income drove the quarterly profit collapse
Consolidated revenue declined 59.12% QoQ to Rs 2.24 cr, while operating profit fell 58.75% to Rs 0.33 cr. The larger swing came below operating profit: other income fell 92.95% to Rs 3.23 cr, reducing profit before tax to Rs 3.53 cr from Rs 46.59 cr.
Costs kept operating margin broadly stable
Expenses declined 59.19% QoQ, slightly faster than the 59.12% fall in revenue, allowing operating margin to improve by 0.13 percentage points. With no interest expense and depreciation unchanged at Rs 0.03 cr, the quarter's operating performance was relatively steady despite the sharp fall in revenue.
Reported profit quality remains weak
Other income made up 91.5% of consolidated profit before tax, so the Rs 3.26 cr net profit was driven mainly by non-operating income rather than the operating business. The tax rate rose 4.95 percentage points QoQ to 7.65%, meaning tax did not cushion the sequential decline in profit.
Results were filed after market close
The company filed these consolidated results after market close on 13 November 2026. The immediate stock response therefore falls outside this note.
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 cr | ₹5 cr | -59.12% |
| Other income | ₹3 cr | ₹46 cr | -92.95% |
| Expenses | ₹2 cr | ₹5 cr | -59.19% |
| Operating profit | ₹0 cr | ₹1 cr | -58.75% |
| Operating margin (%) | 14.73% | 14.60% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹4 cr | ₹47 cr | -92.42% |
| Tax | ₹0 cr | ₹1 cr | -78.57% |
| Net profit | ₹3 cr | ₹45 cr | -92.81% |
| EPS (₹) | ₹2.98 | ₹41.41 | -92.80% |
What to watch
- Whether operating margin holds above 14.73%.
- Whether other income's contribution to profit before tax falls from 91.5%.
- Whether the tax rate moves from 7.65%.